You negotiate a percentage rent component of the lease with the Large Commercial tenant in Unit G1. The Percentage Rent clause says that the tenant will pay you 2% of their gross sales, not to exceed $12,000 in percentage rent. The Large Commercial tenant has given you their sales projections for the next 10 years (row 51). Enter an IF function in cells E45:N45 that calculates the percentage rent based on the tenants sales projection for that Year.

Unit # Unit Time Unit Type 2022 2022 2022 2024 2025 2026 2027 2028 2029 2030 2031 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Unit 1A 1 Bedroom Unit 1B 2 Bedroom Unit 10 2 Bedroom Unit 10 3 Bedroom Unit 2A 1 Bedroam Unit 26 2 Bedroom Unit 20 2 Bedroom Unit 2D 3 Bedroom Unit 3A 1 Bedroom Unit 3B 2 Bedroom Unit 3C 2 Bedroom Unit 30 3 Bedroom Unit 4A 1 Bedroom Unit 45 2 Bedroam Unit 4C 2 Bedroom Unit 40 2 Bedroom Unit 5A 2 Bedroom Unit 5B 2 Bedroom Unit 5C 3 Bedroom Unit 5D 3 Bedroom Unit 1 La Comme Unit G2 Small Commercial Unit Ga Small Camera Unit 64 Smail Commercial Total Base Rent 19,200 26,400 26,400 33,600 19,200 26,400 26,400 33,600 19,200 26,400 26,400 33,600 19,200 26,400 26,400 33,600 26,400 26,400 33,600 33,600 33,600 38,400 38,400 38,400 $691,200 19,584 26,92 26,928 34,272 19,584 26,928 26,928 34,272 19,584 26,928 26,928 34,272 19,584 26,928 26,928 34,272 26,928 26,928 34,272 34,272 33,600 38,400 38,400 38,400 19,976 27,467 27,467 34,957 19,976 27,467 22,467 34,957 19,976 27,467 27,467 34,957 19,976 27,457 27,467 20,375 28.016 28,016 35,657 20,375 28.016 28,016 35,657 20,375 28,016 28.016 35,657 20,375 28,016 28,016 35,657 28,015 28,016 35,657 35,657 33,600 38,400 38,400 38,400 $724,399 20,783 28,576 28,575 36,370 20,783 28,575 28,576 36,370 20,783 28,576 28,576 36,370 20,783 28,575 28,576 36,370 28,575 28,576 36,370 36,370 36,960 42.240 42,240 42,240 $750,791 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 SO 51 21,198 29,148 29,148 37,097 21,198 29,148 29,148 37,097 21,199 29,148 29,149 37,097 21.198 29,148 29,148 37,097 29,148 29,149 37,097 37,097 36,960 42.240 42,240 42,240 $762,533 21,622 29,731 29,731 37.839 21,622 29,731 29,731 37,839 21,622 29,731 29,721 37,839 21,622 29,731 29,731 37,839 22,055 30,325 30,325 38,596 22,055 30,325 30,325 38,598 22,055 30,325 30,325 38,595 22,055 30,325 30,325 38,596 22,195 30,932 30,932 39,368 22,495 30,932 30,982 39,368 22,496 30,932 30,932 39,36 22,496 30,93% 22,946 31,550 31,550 40.155 22,946 31,550 31,550 40,155 22,946 31,550 31,550 40,155 22.946 31,550 31,550 40,155 31,550 31,550 40,155 40.155 36,960 42.240 42,240 42.240 $811,895 30.932 39,368 27,457 27,467 34,957 34,957 33,600 38,400 38,400 38,400 $713,113 29,731 29,721 37,839 37.839 36,960 42,240 42,240 42.240 $774,510 30,325 30,325 38,595 38,596 36,960 42.240 42,240 42.240 $786,727 30,932 30,932 39,368 39,369 36,960 42,240 42,240 42.240 $799,188 $702,048 2% Percentage Rent Potential Gross Rent $691,200 $702,048 $713,113 $724,399 $750,791 $762,533 $774,510 $786,727 $799,188 $811,898 $33,786 $31,104 $660,096 $ $31,592 5670,456 $32,090 $681,023 $32,598 $691,801 $34,314 $728.219 $34,853 $739,658 $35,403 $751,324 $35,963 $763,225 $36,535 $775,363 $717,006 Less: Vacancy & Collection loss Effective Gross Rent Additional Notes Large Commercial Tenant Soles Projections 520000 530000 550000 545000 548000 580000 595000 610000 625000 610000