How to measure an Owner/User building using BOMA Standards

Posted by Ted Mannon on Wednesday, August 9th, 2017 Category1

The Gross Area Standard details procedures for measuring construction gross area and exterior gross area of buildings and provides unequivocal, direct measure of the physical size of a building. Both methods can be applied to new and existing buildings, single or multiple stories, owner-occupied or leased, and for all types of occupancies and uses. The […]

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Floor area ratio (FAR)

Posted by Ted Mannon on Sunday, July 30th, 2017 Category1

Floor area ratio (FAR) is the ratio of a building’s total floor area (zoning floor area) to the size of the piece of land upon which it is built. Calculate the FLOOR AREA RATIO:  Divide the GROSS FLOOR AREA by the BUILDABLE LAND AREA. The result is the Floor Area Ratio (FAR). STEP BY STEP: STEP 1. Determine the total BUILDABLE LAND […]

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CREOP now has DEMOGRAPHICS for its members

Posted by Jones on Thursday, March 9th, 2017 Category1

CREOP has partnered with the leader in demographics, esri, to bring our members the most credible and current demographics available. We also give our members flexibility in regards to mileage radius. You can use our default 1, 3, and 5-mile radius or change the radius to whatever suits your needs such as; 3, 10 and […]

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How to Calculate Unit Square Footage for an apartment building when all you have is the total building SF

Posted by Ted Mannon on Monday, November 28th, 2016 Category1

Many times brokers and sellers need to estimate the unit square footage and all they have is the total building square footage.  So the question is how much to deduct for the exterior walls.   The general rule of thumb is 4% of the total square footage. Let’s say we have a structure that is […]

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How to Calculate Loss Factor or Core Factor

Posted by Ted Mannon on Monday, November 28th, 2016 Category1

When a building is constructed an architect or engineer will measure all the space in the building and determine the overall amount of usable square footage and the amount of common area square footage. The percentage difference between the Usable and Rentable space is known as the Loss Factor or Core Factor. For Example: a […]

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Gross Rent Multiplier (GRM / GIM)

Posted by Ted Mannon on Sunday, November 13th, 2016 Category1

Gross Rent Multiplier is the ratio of the price of a real estate investment to its annual rental income before accounting for expenses such as property taxes, insurance, utilities, etc. It’s a method investors may use to determine market value.  The higher the number the more overpriced the property is compared to the comparables in […]

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Absorption

Posted by Ted Mannon on Sunday, November 13th, 2016 Category1

The amount of inventory or units of a specific commercial property type that become occupied during a specified time period (usually a year) in a given market, typically reported as the absorption rate.

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What is GLA? Gross Leasable Area

Posted by Ted Mannon on Sunday, November 13th, 2016 Category1

GLA is the Gross Leasable Area of the total floor area designed for tenant occupancy and exclusive use, including basements, mezzanines, and upper floors, and it is measured from the center line of joint partitions and from outside wall faces. GLA is that area on which tenants pay rent; it is the area that produces […]

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What is a Ground Lease?

Posted by Ted Mannon on Sunday, November 13th, 2016 Category1

A lease of the land only.  Usually the land is leased for a relatively long period of time to a tenant that constructs a building on the property. A land lease separates ownership of the land from ownership of buildings and improvements constructed on the land.

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FEE SIMPLE VS. LEASEHOLD

Posted by Ted Mannon on Sunday, November 13th, 2016 Category1

Fee Simple vs. Leasehold Most people are only familiar with one type of real estate ownership; fee simple, also known as freehold.  It is important to know the difference between fee simple and leasehold, especially if you’re buying real estate in a leasehold state such as Hawaii along with a few other states in the […]

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