商用房地產(chǎn)市場介紹和評估基礎(chǔ)(房地產(chǎn)金融與投資-武-全文預(yù)覽
【正文】 per floor ?Rentable area per floor Usable area per floor One floor has a total of 20230 square feet Every tenant has 4500 square feet Usable area=18000 (=4500 4) square feet Common area=2023 square feet Load factor per floor=20230247。預(yù)計租約到期加油站將結(jié)束其使用壽命。 NOI=100000 － =$ 147 915)25%,15,( 82 ?年MP V IFA 8479 15)25%,?,(1000 00 ?年MP V IFA%?i Discount Rate and Capitalization Rate 貼現(xiàn)率與資本化率 Discount rate or required internal rate of return,是投資者在投資期內(nèi)要求的與風(fēng)險相當(dāng)?shù)念A(yù)期收益率。 謝謝觀看 /歡迎下載 BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES. BY FAITH I BY FAITH 。 對加油站例子 %8479 15$1000 00$ ??R資本化率貼現(xiàn)率增加，資本化率增加。 一投資者申請到 $700000抵押貸款， 25年期，年復(fù)利 10%，每年還款 $ 。也等于負(fù)債價值與股本價值之和。 18000= Rentable area for a tenant=4500 =5000 Effective Rent有效租金 To calculate the effective rent we will use the following procedure: (1) calculate the present value of the expected rent stream. The rental stream is the amount received after considering expenses that the owner must pay. (2) Calculate an equivalent level annuity over the term of the lease. Net lease with steps 租金逐期增加的凈租賃方式 Rent will be $10 per square foot the first year and will increase by $1 per square foot each year until the end of the lease. All operating expenses will be paid by the tenant. Lease term=five years, discount rate=10% 5432 1413121110 ?????PV$? $790 )5%,10,(????? yrsPV I
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