The following office building is 100,000 gross sq.ft. The rental space is 96,000 sq.ft Chase Bank Occuples 70,000 sq.ft. Shapley Law Firm 10,000, sq.ft. and Securities Broker 16,000 sq. ft Lease term & remaining lease expenses.per sg. ft. are listed belaw. Determine the Net Operating Income. Lease Calculations: Given Lease Data, Solve for NOI Spreadsheet Assumption: Elve year holding.perlod. Vacancy does not take effect until the beginning of year 4. Input Data: $15.00 100,000 s.t. 96,000 s.f. Current Market Rent Giross square feet of building Net rentable square feet of building Management costs Estimated increase in CPI Vacancy rate starting year 4 Selling expenses 5.00% of EGI 4.00% per year 5.00% per year 5% 3 $16.00 Year Market Rent Projection $15.00 $15.50 $16.75 $17.50 $18.00 Increase In rent on lease renewal Chase Bank Shapely Law firm Securities Broker $2.75 $3.00 $3.00 SUMMARY LEASE INFORMATION Current Sq. t. Remaining term (yrs) Tenant Rent Current per s.f Rent Shapely Law firm Securities Broker $3.00 SUMMARY LEASE INFORMATION Current Sq. ft. Rent per s.f. Current Remaining term (yrs) Tenant Rent $14.00 $0 Chase Bank Shapely Law Firm Securities Broker $14.50 4. Q. $15.00 Total Summary of Expense Information Dollars persf. $1.55 0.15 2.00% per year 4.00% per year 5.00% per year 3.00% per year $148,800 increase Property tax Insurance Utilities Janitorial Maintenance Subtotal (before mgt) 14,400 increase 1.25 increase 120,000 76,800 0.80 increase 0.70 increase 3.00% per year 67.200. 427,200 4.45 (before management expenses) Management $0. 0.00 5.00% of EGI Total $427,200 $4.45 Summary of Expense Information Dollars per s.f. $1.55 Property tax Insurance Utilities Janitorial Maintenance Subtotal (before mgt) $148,800 2.00% per year 4.00% per year 5.00% per year 3.00% per year 3.00% per year increase 14,400 0.15 increase 120,000 1.25 increase 76,800 0.80 increase 67.200 427,200 0.70 increase 4.45 (before management expenses) Management $0. 0.00 5.00% of EGI Total $427,200 $4.45 PROJECTED BASE INCOME Year 3. 6. Bank Law firm 0. 0. Broker 0. Potential Gross Income Vacancy Effective Gross Income 0. 0. 0. 2.