A neighborhood shopping center is typically a row of open stores comprising a single line of storefronts with individual service entrances in the rear. It is generally a small, one-story project that may or may not have a major anchor. Typical anchors in a neighborhood center include major markets, large drug stores (discount stores) and banks.
Shopping center costs are for the strip buildings only and include all necessary plumbing and electrical connections to provide for the operation of the satellites, including service areas. Trade fixtures and equipment pertinent to individual tenants are not included. The costs represent group averages of a typical mix of tenants (excluding major anchor occupancies). The following are normally commensurate with the quality and type of anchors they support: The mix of general occupancies found within a center, the display or decorative storefronts, and the canopy-mansard overhang or ornamentation.
This occupancy includes both shell and tenant improvement costs. To price each separately (using two separate occupancies in two separate sections), use the following occupancies:
460 Shell, Neighborhood Shopping Center
990 Interior Space, Neighborhood Shopping Center
The typical tenant mixes for Neighborhood Shopping Centers are:
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Retail |
25% |
All general retail and specialty occupancies |
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Discount |
15% |
Large drug, furniture, hardware, garden, etc. |
|
Food |
17% |
Market, convenience-specialty foods, delicatessen, bakery, florist, etc. |
|
Food service |
13% |
Restaurant, lounge, cafeteria, fast food outlets, etc. |
|
Commercial |
11% |
Office, financial, medical, post office, etc. |
|
Personal services |
14% |
Laundry, barber, beauty, repair shops, health clubs, etc. |
|
Recreational |
3% |
Theater, bowling, skating, clubhouse, day care, etc. |
|
Miscellaneous |
2% |
Storage and center service areas (office, security, etc.) including non-public access ways and restrooms |
If the neighborhood shopping center includes an anchor, use the appropriate occupancies (e.g., 340 for market, 446 supermarket, 304 for bank, 319 for discount store, etc.).
If the shopping center has a mall concourse area, use the following mall components:
Availability of Elevators by Area for this occupancy: No
Marshall Valuation Service sections: 13 and 43.
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Class |
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Quality |
A |
B |
C |
D |
H |
M |
P |
S |
W |
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Low |
-- |
-- |
35 |
30 |
-- |
35 |
30 |
30 |
-- |
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Average |
-- |
-- |
40 |
35 |
-- |
40 |
35 |
35 |
-- |
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Good |
-- |
-- |
45 |
40 |
-- |
45 |
40 |
40 |
-- |
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Excellent |
-- |
-- |
45 |
40 |
-- |
45 |
40 |
40 |
-- |
Class C (Masonry Bearing Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
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Low |
Low-cost fronts, block, tilt-up panels, bearing walls |
Painted walls, drywall or acoustic tile, asphalt tile, few partitions |
Minimum lighting, outlets and plumbing per unit |
Forced air |
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Average |
Good block, tilt-up, bearing or light frame, plain fronts, some trim |
Drywall, acoustic tile, VCT, some carpet and masonry partitions |
Adequate lighting and outlets per unit, small restrooms |
Package A.C. |
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Good |
Stucco or brick on block, light frame, good roof, mansard and storefronts |
Drywall, some paneling, good VCT and acoustic tile, carpet |
Good lighting and outlets per unit, small restrooms |
Package A.C. |
Class D (Wood or Steel Framed Exterior Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Low |
Low-cost wood or stucco, very plain, small fronts |
Low-cost acoustic tile, asphalt tile, few partitions |
Minimum lighting, outlets and plumbing per unit |
Forced air |
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Average |
Pipe columns, web or bar joists, stucco or siding, plain fronts |
Drywall, acoustic tile, vinyl composition, some carpet and trim |
Adequate lighting and outlets per unit, small restrooms |
Package A.C. |
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Good |
Stucco or brick veneer, light frame, good roof, mansard and storefronts |
Drywall, some paneling, good VCT and acoustic tile, carpet |
Good lighting and outlets per unit, small restrooms |
Package A.C. |
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Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
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Average |
Mill-type construction, heavy brick walls, trusses, good wood sash |
Plaster, VCT, wood, some carpet, wainscot and trim |
Adequate lighting and outlets per unit, small restrooms |
Hot water |
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
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Low |
Pole frame, metal siding, finished interior, small fronts |
Drywall, low-cost tile, few partitions |
Minimum lighting, outlets and plumbing per unit |
Forced air |
Class S (Metal Frame and Walls):
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Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Low |
Metal siding, finished interior, small fronts |
Drywall, low-cost tile, few partitions |
Minimum lighting, outlets and plumbing per unit |
Forced air |
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Average |
Good metal panels, some trim, plain fronts |
Acoustic tile, vinyl composition, some carpet and interior trim |
Adequate lighting and outlets per unit, small restrooms |
Package A.C. |