This occupancy, together with occupancy 460 (Shell, 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.
The costs represent group averages of a typical mix of tenant build-out costs only (excluding major anchor occupancies). The floor and ceiling finishes and finished electrical and plumbing are normally commensurate with the quality and type of general occupancies found within a center. Trade fixtures and equipment pertinent to individual tenants are not included.
The typical tenant mixes for Neighborhood Shopping Centers are:
|
Retail |
25% |
All general retail and specialty occupancies |
|
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 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 |
|
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 interior space cost. Note that 100% of the HVAC costs have been included in this occupancy. If you allocated a prorated amount of the HVAC back to the shell cost, you should remove it from this interior space cost by selecting the appropriate HVAC component and entering an appropriate percentage of the total floor area (typically 50% to 70%). For example, if you included 40% of the HVAC cost in the shell, you should enter 60% for the HVAC component in this occupancy.
All Classes
|
Quality |
Interior Finish |
Lighting & Plumbing |
HVAC |
|
Low |
Painted walls, drywall or acoustic tile, asphalt or composition tile, few partitions |
Minimum lighting, outlets and plumbing per unit |
Forced air |
|
Average |
Drywall or plaster, some good tile ceilings, vinyl composition and carpet |
Adequate lighting and outlets per unit, small restrooms |
Package AC |
|
Good |
Drywall or plaster, some paneling, ornamental finishes, carpet, plain terrazzo |
Extensive lighting and outlets, good plumbing |
Warm and cool air (zoned) |
|
Excellent |
Best plaster, ornamental ceilings, paneling, carpet, tile or hardwood |
Special lighting and outlets, good plumbing |
Warm and cool air (zoned) |