This occupancy, together with occupancy 990 (Interior Space, Neighborhood Shopping Center), allows you to individually price the shell and the tenant improvement costs for a neighborhood shopping center (in separate sections of the report). This provides an alternative to occupancy 412 (Neighborhood Shopping Center), which includes both the shell and tenant improvement costs.
A neighborhood shopping center shell is typically a row of open unfinished store spaces 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 support a major anchor. Typical anchors in a neighborhood center include major markets, large drug stores (discount stores) and banks.
The costs for this occupancy are for the strip shell buildings only and include only the necessary rough plumbing and electrical connections to provide for the operation of the satellites, including service areas. Interior finish consists of bare space with concrete floor, demising walls and storefront entries commensurate with the quality.
You can add interior retail space build-out (tenant improvement) costs using occupancy 990, Interior Space, Neighborhood Shopping Center (which you must enter in a different section).
If the neighborhood shopping center includes an anchor, use the appropriate occupancies (e.g., 340 for market, 446 for supermarket, 304 for bank, 319 for discount store, etc.) in addition to this occupancy.
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.
|
|
|
|
|
|
Class |
|
|
|
|
|
Quality |
A |
B |
C |
D |
H |
M |
P |
S |
W |
|
Low |
-- |
-- |
35 |
30 |
-- |
-- |
30 |
30 |
-- |
|
Average |
-- |
-- |
40 |
35 |
-- |
-- |
35 |
35 |
-- |
|
Good |
-- |
-- |
45 |
40 |
-- |
-- |
40 |
40 |
-- |
|
Excellent |
-- |
-- |
45 |
40 |
-- |
-- |
40 |
40 |
-- |
In addition to being an aid in selecting a building’s quality, the following indicates what is included in the base shell cost. Note that HVAC costs have been included in the total with the finished build-out space in occupancy 990 (Interior Space, Neighborhood Shopping Center). You can allocate a prorated amount back to the shell cost if needed by selecting the appropriate HVAC component and entering a percentage of the total floor area, typically 30% to 50%.
Class C (Masonry Bearing Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Lowest |
Light block or tilt-up, built-up cover, minimal openings, no storefronts |
Bare space, dirt floor, no interior demising walls |
Rough retail electrical and plumbing, few service outlets |
None |
|
Low |
Low-cost fronts, block, tilt-up panels, bearing walls, small fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, few service outlets |
None |
|
Average |
Good block, tilt-up, bearing or light frame, plain fronts, some trim |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, some service outlets |
None |
|
Good |
Stucco or brick on block, light frame, good roof, mansard and storefronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, some service outlets |
None |
Class D (Wood or Steel Framed Exterior Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Lowest |
Low-cost siding, no storefronts |
Bare space, dirt floor, no interior demising walls |
Rough retail electrical and plumbing, few service outlets |
None |
|
Low |
Low-cost wood or stucco, very plain, small fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, few service outlets |
None |
|
Average |
Pipe columns, web or bar joists, stucco or siding, plain fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, some service outlets |
None |
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Lowest |
Pole frame, light metal utility siding, minimal openings, no storefronts |
Bare space, dirt floor, no interior demising walls |
Rough retail electrical and plumbing, few service outlets |
None |
|
Low |
Pole frame, metal siding, finished interior, small plain fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, few service outlets |
None |
Class S (Metal Frame and Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Lowest |
Light pre-engineered building, no storefronts |
Bare space, dirt floor, no interior demising walls |
Rough retail electrical and plumbing, few service outlets |
None |
|
Low |
Light pre-engineered frame, metal siding, finished, small plain fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, few service outlets |
None |
|
Average |
Sandwich panels, some trim, plain fronts |
Bare retail space, floor slab, some bare partitioning |
Rough retail electrical and plumbing, some service outlets |
None |