If you are interested in leasing a specific commercial property, you need to know how to calculate the rate for it. In order to accomplish this, you must understand the aspects involved. In particular, you have to look at the specific factors. These include:
In addition to these aspects influencing the rates, you also need to look specifically at the kind of lease offered. There are 2 major types of leases. These are:
In calculating, be sure you determine whether the square footage is usable or rentable space. Usable square footage is the actual space your commercial property occupies. Rentable square footage is the usable space plus the common areas utilized by all occupants of the building.
Once you know the means of calculation for the commercial lease, you need to look at other factors that will influence the total cost or rate. You must look at what is and what is not inclusive in the lease. Is the lease you are considering a gross lease, covering rent and utilities? Does it include NNN – Triple Net – a proportional share of such things as operating expenses, insurance and taxes for the entire building; what about common area maintenance (CAM) expenses?
Due to the complexity of the calculations, it might be best to consult a real estate lawyer. This will guarantee you will know what you are actually paying for when you lease the property.