A retail tenant has negotiated an absolute net lease for 10,000 square feet of gross leasable area, payable at $11 per square foot. The percentage clause in the lease requires the tenant to pay as additional rent an amount equal to 4 percent of gross sales above the natural breakpoint in sales. Projected sales for year three of the projection are $3,000,000. 

How much overage rent will the tenant have to pay at the end of Year 3?

Answer rating: 100% (QA)

To calculate the overage rent that the tenant will have to pay at the end of Year 3 we need to deter... View the full answer