商业净营业收入计算器
计算商业房产的净营业收入。
净营业收入 (NOI)
$160,450
Net Operating Income (NOI) vs Annual Gross Rental Income
公式
## Commercial NOI Calculation Net Operating Income is the most important metric in commercial real estate. It measures a property's income-producing ability before debt service and capital expenditures. ### Standard NOI Formula **NOI = Effective Gross Income - Operating Expenses** Where: - Effective Gross Income = Potential Gross Income - Vacancy & Credit Loss - Operating Expenses = Taxes + Insurance + Maintenance + Management + Utilities + Other ### What NOI Excludes - Debt service (mortgage payments) - Capital expenditures (roof replacement, HVAC, etc.) - Depreciation and amortization - Income taxes ### Operating Expense Benchmarks - **Office**: 40-55% of EGI - **Retail (NNN)**: 10-20% (tenants pay most expenses) - **Industrial**: 20-35% - **Multifamily**: 35-50% Lower expense ratios mean more income flows to NOI, which directly increases property value.
计算示例
$250,000 gross rental income, $15,000 other income, 7% vacancy, $28,000 taxes, $8,000 insurance, $15,000 maintenance, $18,000 management, $12,000 utilities, $5,000 other.
- 01Potential gross income: $250,000 + $15,000 = $265,000
- 02Vacancy loss: $265,000 x 7% = $18,550
- 03Effective gross income: $265,000 - $18,550 = $246,450
- 04Total expenses: $28,000 + $8,000 + $15,000 + $18,000 + $12,000 + $5,000 = $86,000
- 05NOI: $246,450 - $86,000 = $160,450
- 06Expense ratio: $86,000 / $246,450 = 34.9%
常见问题
Why does NOI exclude debt service?
NOI measures the property's performance independent of how it is financed. Two investors may buy the same property with different loan amounts and interest rates. By excluding debt service, NOI allows apples-to-apples comparison of property performance.
What is the difference between NOI and cash flow?
Cash flow equals NOI minus debt service (mortgage payments). NOI is the property-level metric, while cash flow is the investor-level metric after financing costs. Cash flow also typically subtracts capital reserves.
How do I increase NOI?
NOI increases through either raising income or reducing expenses. Income improvements include rent increases, reducing vacancy, adding revenue streams (parking, vending, storage). Expense reductions include tax appeals, energy efficiency upgrades, competitive bidding on services, and renegotiating vendor contracts.