Retail Property

Pro Forma Statement of Cash Flow $-$ Base Year Estimate

Revenue: Base Rents $(600,000$ sq$.$ft$.$ @ $$10)6,000,000($assuming no vacancy$)$

Overage Rent $($based on tenants' revenue$)350,000$

CAM $($Common Area Maintenance$)$ recoveries $300,000$

Less: Vacancy @ $15\%=900,000$

Maintenance$/$Repair $950,000$

Management$/$Admin$/$Leasing $200,000$

Property Taxes $1,200,000$

Insurance $75,000$

Recurring Capital Expenses $120,000$

What is the Net Operating Income?