Rule of thumb for office rent
Is there any rule of thumb for office rent or on lease per gross income? If yes, then explain?
Expert
The term GRM known as Gross Rent Multiplier that compares the total lease/rental income to the value or price of the property.
The price increases 8 to 10 times of the gross income, but it can be vary based on interest rates, market conditions, management, building type, quality.
Capitalization Rate (cap rate) is a more comprehensive way of evaluation, but if the GRM is known for a building type and location, you can quickly determine a ballpark value.
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