Instructions: Using the following data and rent roll, project the NOI of the building for the years 2024, 2025, and 2026. Please make sure to make your calculations to the right of the data and rent roll of this worksheet. Projected inflation (CPI) 2024 3.0% 2025 2.0% 2026 1.0% RENT ROLL Floor 1 Unit number Unit 1 Space vocation Retail Lease start 2021-01-01 Lease end 2030-12-31 Lease type Triple Net Square footage 25,000 Rent/sq ft 2024 2025 2026 27 28 29 Percentage factor 5% 5% 5% Breakpoint 1,000,000 1,020,000 1,040,000 Common Area 1,000 Floor 2 Unit number Unit 2 Space vocation Office Lease start 2021-01-01 Lease end 2028-12-31 Lease type Net Square footage 15,000 Rent/sq ft 2024 2025 2026 60 +Inflation +Inflation Unit number Unit 3 Space vocation Office Lease start 2022-06-01 Lease end 2028-06-01 Lease type Double Net Square footage 10,000 Rent/sq ft 2024 2025 2026 23 23 24 Common Area 2,000 Floor 3 Unit number Unit 4 Space vocation Office Lease start 2020-01-01 Lease end 2025-12-31 Lease type Gross Square footage 25,000 Rent/sq ft 2024 2025 2026 52 52 NOTE 1 TOTAL LEASABLE 75,000 TOTAL COMMON 3,000 TOTAL BUILDING 78,000 NOTE 1: It is anticipated that this lease will not be renewed. The unit will be vacant for 2 months. The new lease will have a free rent period of 2 months and a base rent (gross) of $55/sq ft Retail sales for Unit 1 in 2023 2,500,000 Expenses for 2023 Property taxes 600,000 Insurance 60,000 Maintenance & operations 250,000 Security 55,000 Snow removal 35,000 Utilities 250,000 Depreciation 60,000