Free CRE Tool
NOI Calculator
Calculate Net Operating Income from gross rent, vacancy, and operating expenses. Pre-loaded with Central Florida benchmark expense ratios.
NOI Calculator
Income
Operating Expenses
Effective Gross Income$1,180,000
Total Operating Expenses$385,000
Net Operating Income$795,000
Expense ratio: 32.6%
What is NOI?
Net Operating Income (NOI) is gross rental income minus vacancy/credit loss and operating expenses — before mortgage payments, income taxes, depreciation, and capital expenditures. NOI is the foundation of every CRE valuation method and lender underwriting metric.
Central Florida Expense Ratios (Benchmarks)
- Multifamily (Class A): 35–40% of EGI
- Multifamily (Class B/C): 40–50% of EGI
- Industrial (NNN): 5–15% of EGI (landlord retains some structural)
- Office (Class A): 40–50% of EGI
- Retail (NNN): 5–15% of EGI
- Hotel: 60–75% of total revenue (operating intensity)
Florida operating expenses are increasingly affected by elevated insurance premiums and property tax reassessment at sale. See our complete NOI guide for full Florida-specific considerations.
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