Commercial real estate
Net Operating Income Calculator
Calculate annual NOI before financing, income tax, depreciation and capital expenditures.
Calculate your result
What this calculator estimates
Calculate property income before debt service. It combines the inputs below to produce Net operating income. Every assumption remains editable so the estimate can reflect the property, financing and location being evaluated.
Worked example
Using the displayed sample assumptions, the calculator produces $132,750. This is an illustration, not a market quote. Change one input at a time to understand what drives the result.
Inputs and assumptions
- Annual base rental income — sample input: 180000 currency units
- Annual recoveries and other income — optional — sample input: 45000 currency units
- Vacancy and credit loss — sample input: 5 %
- Property taxes — sample input: 35000 currency units
- Insurance — sample input: 9000 currency units
- Owner-paid utilities — optional — sample input: 12000 currency units
- Management fees — optional — sample input: 10000 currency units
- Repairs and maintenance — sample input: 15000 currency units
- Other operating expenses — optional — sample input: 0 currency units
How to interpret the result
Use lease definitions and verified operating statements. Compare a conservative case with an expected case and keep a record of the assumptions used.
Common mistake to avoid
Do not compare properties using inconsistent NOI definitions. Local definitions, taxes, lending practices and measurement requirements can materially change the result.
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Reviewed 2026-09-08.