To use this calculator, input the total rentable square feet, base rent per square foot, and all associated costs such as property tax, insurance, and maintenance. You can also input the leased area, vacancy rate, and cap rate for more detailed calculations.
Total Annual Rent = (Base Rent per Sq ft * Leased Area) + Property Tax + Insurance Cost + Maintenance Cost
Net Operating Income (NOI) = Total Annual Rent * (1 - Vacancy Rate) - (Property Tax + Insurance Cost + Maintenance Cost)
Property Value = NOI / Cap Rate
Suppose you have a property with 10,000 rentable square feet, a base rent of $15 per square foot, $20,000 in property tax, $5,000 in insurance, and $10,000 in maintenance costs. If 8,000 square feet are leased, with a 5% vacancy rate and a 6% cap rate, the calculator will compute the total annual rent, monthly rent, and property value.
When using this calculator, remember that market conditions can change, affecting rent and property values. It's important to regularly review and adjust your inputs to reflect these changes. Additionally, consider consulting with a real estate professional for more personalized advice.