Calculate net operating income with line-item detail. NOI = Effective Gross Income − Operating Expenses.
Enter income and expenses to see your NOI.
Net Operating Income is the annual income a property generates after deducting all operating expenses — but before debt service (mortgage payments), capital expenditures, and income taxes.
NOI is the foundation of commercial real estate valuation. It's the numerator in the cap rate formula and the basis for most lender underwriting. If the NOI is wrong, everything downstream is wrong.
What's included in expenses: property taxes, insurance, management fees, repairs, utilities paid by the owner, landscaping, and administrative costs.
What's NOT included: mortgage payments, depreciation, capital improvements (roof, HVAC replacement), and income taxes. These are below-the-line items that vary by owner, not by property.
For a property-specific analysis with verified expenses and market rent comps, schedule a conversation.
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