You are calculating NOI for a potential refinancing of a CRE loan.  Net rent received, after deducting a vacancy and bad debt loss, is $300,000/year.

Owner's Expenses:        
Supplies    $3,000    
Manager's Salary    $20,000
Replacement Reserves    $12,000    
Electricity    $23,000
Water    $5,000    
Property Insurance (2-year Premium Payment)    $18,000
Depreciation    $35,000
Real Estate Property Taxes    $20,000
Janitor's Salary    $15,000    
Interest on Mortgage    $22,000
Miscellaneous Repairs    $15,000        

 

Calculate NOI