商用房地產(chǎn)市場(chǎng)介紹和評(píng)估基礎(chǔ)(房地產(chǎn)金融與投資-武-預(yù)覽頁(yè)
【正文】 FAPVEffective Rent Net Lease with Free Rent year 1 2 3 4 5 Net rent Average rent Present value Effective rent Net Lease with CPI Adjustments The rent will be $11 per square foot the first year. After the first year,the rent will be increased by the amount of any increase in the CPI. The CPI is expected to be 2% during the second year,3% the third year,4% the fourth year,5% the fifth year. 用 CPI調(diào)整租金的凈租賃方式 Net Lease with 100% CPI Adjustment year 1 2 3 4 5 Expected CPI NA 2% 3% 4% 5% Net rent Average rent Present value Effective rent Gross Lease Year 1 2 3 4 5 Gross rent Less expenses Net rent Average rent Present value Effective rent Gross lease with Expense stop at $4 Year 1 2 3 4 5 Gross rent Less expenses Plus reimbursement Net rent Average rent Present value Effective rent gross lease with Expense Stop at $4 and CPI Adjustment Year 1 2 3 4 5 Expected CPI NA 2% 3% 4% 5% Gross rent Less expenses Plus reimbursement Net rent Average rent Present value Effective rent NOI分析 潛在總收入 :建筑物中所有可租用面積全部被租出時(shí)可獲得的收入 有效總收入 :建筑物中已出租面積的收入 凈營(yíng)業(yè)收入是決定房地產(chǎn)經(jīng)濟(jì)可行性的關(guān)鍵 某一時(shí)點(diǎn)上房地產(chǎn)的價(jià)值等于該房地產(chǎn)在其經(jīng)濟(jì)壽命期內(nèi)預(yù)期凈營(yíng)業(yè)收入的現(xiàn)值 。清理場(chǎng)地費(fèi)用將用光土地收入。 Riskless rate Treasury bonds Commercial mortgage Corporate bonds Common stocks Real estate investments Expected return Risk Capitalization Rate 第一年的凈營(yíng)業(yè)收入與房地產(chǎn)價(jià)值之間的比率叫資
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