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office space rental rate

office rent calculation

How is office space rent calculated?

Rents for office space are typically quoted per square foot, on an annual or monthly basis. In other words, a quoted rent of $18.00/SF annually means the rent paid will be $18.00 per year per square foot.

To calculate annual and monthly rent figures just take the size of the space (in square feet) and multiply by the rate. This will give you the annual rent; divide this number by 12 for the monthly rent.

For example, 2,000 SF at $18.00/SF is calculated like this:

2,000 x $18.00 = $36,000 annually

$36,000 / 12 = $3,000 monthly