The Rent Roll Audit: How to Spot “Phantom Income” Before You Acquire a Commercial Property in OC
In Orange County commercial real estate, a property is not valued by its architecture, its location, or its replacement cost. It is valued by a ruthless, singular mathematical metric: Net Operating Income (NOI). Because commercial assets trade on a Capitalization Rate (Cap Rate) multiple, every single dollar of income a building generates has a massive…









