How are the Leasing rates set for Commercial Real Estate in the Okanagan Valley?

These rules definitely apply to the Okanagan Shuswap Commercial Real Estate market  but they are also fairly accepted in most areas. I receive questions like this on a regular basis. Lease rates are set on a rate per foot, per year. A common mistake that sometimes even Realtors make is that the rates are set per month; not so. For instance if we look at a 4000 square foot retail space and the rate is set at $12.50 what does that mean? It means that you would multiply the 4000 sq. ft. by the $12.50 to find out how much rent the tenant would pay in a year, in this case it is $50,000. In order to find out the monthly lease payment we would divide by 12 which is equal to $4,166,67 per month. 

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