Table of Contents
What does leasable area mean?
Leasable Area is the total area of properties available for leasing. For development located in the Commercial-Regional zone which is further regulated by resolution(s) of the City Council, floor area shall be defined by the Gross Leasable Area.
What is assignable area?
2. Assignable Area (Net Assignable Square Feet – NASF) A. Definition: The sum of all areas on all floors of a building assigned to, or available for assignment to, an occupant or specific use.
How is leasable area measured?
To get the gross leasable area for one tenant, you would measure from the center of the common wall (shared with another tenant) to the outside face of the external wall. The external wall can be a shopfront, a window display, or just a flat wall. Regardless, it is included in the gross leasable area.
How do you find a rentable area?
Calculating Rentable Square Footage Your rentable square footage is equal to your usable square footage plus your pro-rata share of the common areas of the building.
What is lettable area?
The lettable area is a measurement of the floor space and/or land area of a property and is used to assist in rental calculations and property market assessments.
What is net area?
Net Area is sometimes called the net assignable area, or the area of each programmed space. It is the space a client needs for their specific program functions like offices, work rooms, or conference rooms. It does not include the space needed for circulation, partitions, or building amenities, like restrooms.
What is net area and gross area?
Gross floor area: The total area of a building, calculated on a floor-by-floor basis, enclosed by the outer building’s outer walls. Net floor area: Commonly also referred to as “net area”, the net floor area is derived when the construction area, or the outer walls of a building, is deducted from the gross floor area.
What is the meaning of rentable?
that is able or fit be rented
1. rentable – that is able or fit be rented. unrentable – not able or fit to be rented; “the house was unrentable in that condition”
What is the difference between the rentable and usable area called?
When it comes to rentable vs. usable square feet, the difference is called a loss factor. Rentable square feet includes common areas like elevators, bathrooms and hallways, meaning you pay for these common area spaces as part of your rentable square feet.
What is the difference between net lettable area and gross lettable area?
The guidelines define three types of area calculation used in commercial leases; Gross Lettable Area – GLA – for industrial buildings, showrooms and freestanding supermarkets. Net Lettable Area – NLA – which is used for office buildings and tenancies.
How is net area calculated?
It is calculated by measuring the area between the walls at the floor level and then deducting any protruding walls, abutments, mechanical and/or plumbing shafts, window niches with sills above the floor level and other construction that obstructs the programmatic use of a space.
What means net area?
Net floor area: Commonly also referred to as “net area”, the net floor area is derived when the construction area, or the outer walls of a building, is deducted from the gross floor area.
Is Rentability a word?
The definition of rentability in the dictionary is the degree to which a property is suitable to be rented or rented out.
What is meant by usable vs rentable space?
Usable square feet is the space a tenant can use and occupy and has possession of. Rentable square feet is a real estate term, usually used for commercial spaces, for the amount of square feet the rent is based on. This area includes space outside of the actual rented area including stairways, lobbies, corridors, etc…
What is the difference between GFA and CFA?
(c) Construction floor area (CFA) includes all construction area in addition to the GFA, such as car parks, mechanical plant rooms, refuge floors, etc. This measurement unit is usually used for calculation of construction cost of a project.
What is a net lettable area survey?
A Net Lettable Area Survey is typically used for calculating tenancy areas in office buildings. The measurements are taken from the internal finished surface of permanent internal finished services of dominant portions of the permanent outer building walls
What is meant by net leasable area?
The floor space in a building that is actually under lease. Net leasable area is all the leasable area of a building exclusive of none leasable space such as hallways, building foyers, areas devoted to heating, air conditioning, elevators, and other utility areas.
What is excluded from net lettable areas?
There are things to consider such as stairs, common areas. i.e. Common lobbies and fire hose reel cupboards are provided as standard facilities in the building; these are excluded in net lettable areas. These exclusions follow the method of measurement for whole tenanted floors and/or multi-tenanted floors.
What does net lettable area mean in an IR?
Net Lettable Area means the area in the IR that is to be leased for retail purposes, excluding common areas such as corridors, lift shafts, fire escape, staircases and toilets, which said Net Lettable Area shall not, in any case, be less than 52,000 square metres; Sample 1 Based on 1 documents