As mentioned earlier,you should confirm what definition should be used for the specific purpose you are undertaking. All interior spaces are included (Space Classifications A and E.). If there is no dominant portion, use the inside finished surface of the wall where it intersects the floor as the measuring line. It is expanded from the leasable square footage to also include common areas, such as public restrooms, hallways, lobbies, shared kitchen spaces, fitness facilities, elevators, and other spaces in a commercial building. Our easy-to-use technology and responsive team of real estate professionals delivers the most transparent, flexible experience in the market. Usable Area is always lower than Rentable Area. synonyms and is often referred to as the Rentable/Usable (R/U) Factor, the Core Rentable square footage, which is the amount that your total rent will be based on, includes all of the usable square footage plus a percentage of the common areas in a building. Tara received her MBA from Adams State University and is currently working on her DBA from California Southern University. The difference between the two methods is in the way the ratio is calculated. As a member, you'll also get unlimited access to over 84,000 Updated in 2017, the BOMA 2017 for Office Buildings: Standard Methods of Measurement offers landlords and brokers a mutual understanding on how and why certain shared or common areas are calculated into load factors. An example of usable, rentable, and gross square footage on a floor with multiple tenants. It is important for architects to fully understand the definitions of (and procedures for measuring) building floor areas. For Tenants, Understanding & Negotiating Your Lease Tags: The floor area of a building, or portion thereof, not provided with surrounding exterior walls shall be the usable area under the horizontal projection of the roof or floor above. Using the idea of a rentable area solves this problem. Building Square Footage or "BSF" means the square footage of assessable internal living space of a Unit, exclusive of any carports, walkways, garages, overhangs, patios, enclosed patios, detached accessory structure, other structures not used as living space, or any other square footage excluded under Government Code Section 65995 as determined by reference to the Building Permit for such Unit. Properties such as Retail There are a number of exceptions included in the BOMA Standards (external circulation, non-vertical walls, unprotected openings, and voids), but those are beyond the scope of this article. to a space for five to ten years in a lease agreement for a space that is too When you look at the apartment from a usable space perspective, you remove the common spaces but include all of the interior spaces of your apartment. buildings or single-story office or industrial buildings that dont have any Footage the tenant will pay rent on. Enrolling in a course lets you earn progress by passing quizzes and exams. Joint tenancy 3. Design & Documentation > Architectural Concepts. residential gross floor area means the sum of the total areas of each floor level of a building, above and below the ground, measured from the exterior of the main wall of each floor level, reduced by the area of the building used for: Square feet or "square foot" as used in this Lease includes the area contained within the leased premises together with a common area percentage factor of the leased premises proportionate to the total building area. Service areas (restrooms, electrical closets, data closets, etc) are excluded from the measurement. Covered areas like porches, terraces, and entry alcoves may be included, but not always. All rights reserved. What Is the Difference Between a Broker, Sales Agent, and Realtor. Police Power in Real Estate Significance & Examples | What is Police Power? Meeting rooms, corridors, lobbies, restrooms, and a proportionate share of any common areas. Factor, the Loss Factor or the Common Area Factor. Encroachments 4. If it does, a space like an electrical room or a janitors closet might also be considered usable space if their use is dedicated for that floor. RSF is calculated by multiplying the lease rate per square foot by the listed square footage plus a percentage of all the shared or common areas in the building. Area C means areas of the West Bank outside Areas A and B, which, except for the issues that will be negotiated in the permanent status negotiations, will be gradually transferred to Palestinian jurisdiction in accordance with this Agreement. This gives you your share of the common area -- 800 SF. To show the math on this as an The rentable area consists of the space occupied or leased by the tenant plus an allocated portion of the areas in the building that are shared with other tenants such as the lobby or corridors. Usable Square Footage: Whats the Difference? BOMA/ANSI Z65.3, Gross Area 3 is called the Volumetric Method. It also incorporates floor common areas, like kitchenettes, hallways, or reception areas specific to the floors use. Common areas can include lobbies, hallways, restrooms that are open to all, conference rooms, and other spaces that can be shared amongst the different tenants in the building. Area B means the populated areas delineated by a red line and shaded in yellow on attached map No. Since each municipality has their own zoning code, it is important to confirm the local standards prior to making measurements. not get you to an accurate measurement of USF. every opportunity you have, and ultimately, maximize your profitability through The usable areas are all the areas that can be leased and occupied by the tenants. measure a space from the inside of all the walls of a space, and in doing so, It is used informally to determine construction costs or building value, usually by contractors. Course Summary Pass your Tennessee Real Estate Broker licensing exam with our comprehensive prep course. Usable Area is used in multiple standards, but in general, it is the portion of a floor or building classified as tenant areas and amenity areas. Square footages are considered accurate when the discrepancy between two calculations is less than 2%. Usable square footage (USF) is defined as the total square footage a tenant occupies. It is not used in Method B (Single Load Factor Method). small or minor additional R/U Factor which increases the Rentable Square Katie & Jessica Bak , Real Estate Agent Front Gate Real Estate. If you have more questions or would like to move forward in the leasing process, Your Guide to the Elements of a Commercial Lease (Terms, Definitions), Understanding & Negotiating Your Lease section of the AQUILA Learning Center, contact our experienced tenant representation team. Whats the difference between livable, rentable, and usable space?Are you currently enrolled in a pre-license real estate school in the U.S.? Customer | Differences, Responsibilities & Examples, Fee Simple Absolute | Fee Simple Overview. Usable Square Footage or USF is Common Area Factors, or add-on or load factors, are an increase in rentable square footage above usable square footage. Let's start at the beginning. Common areas, elevator shafts, stairways, and HVAC and other system equipment areas Rentable areas may include Meeting rooms, corridors, lobbies, restrooms, and a proportionate share of any common areas. will go search for 3,000 square feet, instead of a space that is actually 3,600 More commonly, any recessed sections or support columns are considered non-existent when landlords calculate usable square footage. The term usable is not completely accurate, though, given that the square footage occupied by columns, for instance, is also technically considered usable square feet. For instance, curtain wall systems are often more than 50% glass so the measurement line in this case is the interior face of the glass. Thus, your paced-out area occupied is different to the GLA value. The NEN 2580 is the most accepted framework for this unit in the Netherlands. tenant who occupies an entire floor of an office building will have a lower R/U Option B has less rentable square footage and thus would cost less per month for the same amount of usable space! You will then also pay your For example, if a tenant leases 10,000 square feet in a 100,000-square-foot building, 10% of the buildings common space will be attributed to that tenant. Constructive Notice in Real Estate Overview & Law | What is Constructive Notice? Load Factor. That's what gets portioned in as rentable space, giving you a total of 6,000 rentable square feet. The Gross Floor Area is defined by the2018 International Building Codeas: The floor area within the inside perimeter of the exterior walls of the building under consideration, exclusive of vent shafts and courts, without deduction for corridors, stairways, ramps, closets, the thickness of interior walls, columns or other features. Gross Square feet (outside to outside) Buildable (outside to outside) but can be more of an architectural method Usable (inside to inside of premises) Rentable (usable and common area percentage) If a tenant will occupy 1000 SF, then 11.1% of the area will be added to the usable area to determine the rentable area. The only difference would be the size of the . The examples in this article are simplified to help understand the concepts of arriving at a rentable area to distribute building costs proportionally among tenants. With rentable space you include the entire space of the apartment, including closets, stairs, and hallways, but you also include a portion of the common areas. other property benefits will often include those square footages into the Measuring the interior walls of a space will It's not uncommon for patios or porches to be included if they're heated or air conditioned. The gross floor . More commonly, any recessed sections or support columns are considered non-existent when landlords calculate usable square footage. When you are searching for a new office space, you want to be very clear on whether you are looking at usable vs rentable square feet figures. These are the ones we have on our shelf. Floor Area means the space on any storey of a building between exterior walls and required firewalls, including the space occupied by interior walls and partitions, but not including exits, vertical service spaces and their enclosing assemblies; Floor Area Ratio means the sum of the area of all floors of. All enclosed spaces are included and deductionsare notmade for mechanical shafts, vertical circulation, interior walls, or structural elements. The buildings total rentable are would be the sum of all the floor rentable areas. It is established by individual jurisdictions, usually cities or towns. Use Due Diligence And Investigate Rent Calculations. real estate. The EGA may be appropriate for use in zoning and Floor Area Ratio calculations. Obviously this includes all of the office area that would be available for your business and employees to work. In the example, 110SF will be added to useable area to yield a 1,110 SF rentable area. You may be told you're renting 15,000 square feet, but they're including that 5,000 square feet of common space. In other words, the gross square footage is the total space a facility takes up, regardless of whether or not the space is used by the tenant. Having both is ideal, as it will give you a better picture of how much space your business will have for its own use, and how much common space will be available to you. Common spaces are areas usable by all tenants in the building and include, but are not limited to, hallways, lobbies, public restrooms, and fitness facilities. If the lobby, shared hallways and restrooms total 1,000 square feet, then the total usable area on the floor would be 9,000 square feet. This website uses cookies. Usable Square Footage is measured from the Square Footage of a property, its important to understand that you are paying portion or percentage of the propertys common areas. Let's imagine you find one apartment and want to compare the three ways of measuring square feet. CGA is very similar to Building Area, defined above. Similar to how homes are assessed, the measurements are from the DISCLAIMER: This website is provided by Opmetric Inc for educational and informational purposes only and should not be considered advice. Rents are generally quoted in terms of the rentable area, but this must always be confirmed with the landlord. Service areas (restrooms, electrical closets, data closets, etc) are excluded from the measurement. Building Gross Square Footage does not have a specific definition that can be referenced. Net floor area is used to calculate occupant load based on building codes. Being able to make sense of usable vs rentable square feet is vital for knowing how much space you are really going to get when you rent an office for your company. To unlock this lesson you must be a Study.com Member. The load factor is the difference between the rentable area and the usable area divided by the usable area. BOMA Standards are most commonly used for buildings that are leased to tenants. for additional square footage as part of your pro-rata share of the common receives, the amount will typically fall in a range of 1.10 to 1.20 percent of and Rentable Square Footage, and avoiding the most common mistakes involved Please note, comments must be approved before they are published. With rentable. Date posted: August 27, 2018 A. These areas were part of the construction or acquisition cost of the building, and they require continued cleaning and maintenance. Building Area is the footprint of the building measured to the inside face of the exterior walls. Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following: Area A means the populated areas delineated by a red line and shaded in brown on attached map No. When marketing space, this is often referred to as a percentage, so 15% common area factor. common areas. Archtoolbox is a Trademark of Aggregate Digital LLC. With the same rental rate, the tenant . All other trademarks and copyrights are the property of their respective owners. with each. According to the2018 International Building Code, Building Area is defined as: The area included within surrounding exterior walls, or exterior and fire walls, exclusive of vent shafts and courts. The dominant portion of an enclosing surface is the part of the wall that provides more than 50% of the finished wall between the finished floor and finished ceiling. REBNY also allows a loss factor to be applied to usable areas. Rentable Square Footage or RSF is Do not confuse BGSF withBuilding Area(defined above), which is a code-based definition that limits the size of a building. Depending on the size of the tenants lease (square footage and number of floors occupied), the usable square footage may include restrooms, maintenance areas, and elevators across several floors. The FICM is available as afree PDF download. succeed. Because the rentable square feet is often higher than the usable for a space, it is imperative that you use the correct measurement when evaluating your budget. can actually build out and occupy. Real Estate Express & Implied Agency | What are Express & Implied Agency? For example, if youre trying to determine how much youll pay each month for a 4,000 square foot property at a market value of $1.75 per square foot, youll want to use the following formula: Market Price per sq. "Open to below" areas in multi-story voids (atria) are excluded from BGSF only the first floor of a multi-story open space is included. For a rectangular space, simply multiply the length of the room by the width. Other potential encumbrances of title D. Types of ownership (2) 1. Updated allocations for amenity and service areas based on tenant usage, Capped load factors may be applied on a tenant-by-tenant basis, common area expense stipend on top of monthly rent and utilities, How to Create a Work Culture that Supports Employee Mental Health, How Buying CRE is Different than Residential, 7 Best Ergonomic Chairs That Will Fit for Your Work From Home Setup. The difference between usable, rentable, and gross square feet is subtle but extremely important to understand when negotiating a lease. Start by finding all the usable (USF) and rentable square footage (RSF) throughout the building, then divide RSF by USF to determine the load factor. Well send you one email a month featuring our most relevant content. Principal-Agent Relationship Roles & List | What is a Principal in Real Estate? Landlords may also calculate the Building Rentable Area to identify the income producing area of their building. To do this calculation, simply multiply your rentable square feet by your annual base rental rate. | 18 Floor Area, Livable (Net Floor Area): The sum of the footage contained within all buildings or structures on a site measured from the inside wall surfaces including basements but excluding, garages, porches, utility rooms, stairways, storage rooms, and unroofed balconies and patios. Building Gross Square Footage is usually the area of construction to the outside face of the exterior walls. Buildings or properties that Steves joining is a testament to both the power Read More, Were thrilled to announce that Peter Cento has joined SquareFoot as the companys first Consulting Group hire. Rentable Square Feet with 3,000 Usable Square Feet or 3,000 Square Feet they a tenant believes they need 3,000 Usable or Buildable Square Feet for their example, if the Usable Square footage is 3,000 square feet, and the R/U Factor Current versions of the standards no longer use this term. Common- interest ownership . Get in touch to start your search today. Built-up area and/or Covered Area in relation to a Flat shall mean the floor area of that Flat including the area of balconies and terraces, if any attached thereto, and also the thickness of the walls (external or internal) and the columns and pillars therein Provided That if any wall, column or pillar be common between two Flats, then one-half of the area under such wall column or pillar shall be included in the built-up area of each such Flat. Review the lesson called Livable, Rentable & Usable Area: Definition & Examples to find out more information about area options. It would take more effort than it is worth to exclude them from the calculations since these elements are such a small percentage of the overall space in the building. If we assume a tenant is going to occupy 1,000 square feet of offices, then the tenants rentable area for lease purposes is: If the lease is $2 per square foot per month, then the monthly lease payment will be $2,220 per month. You can also manage your subscription preferences. It is important to note that different parties will calculate different areas of the exact same building even if they use the exact same method. For instance, if there is 100,000 square feet in apartment space and your apartment is 10,000 square feet, you occupy 10% of the available apartment space. For additional information on commercial real estate terminology click hereFor a free evaluation of your current terms click here. If a tenant does not understand the . TheBOMA Standardsprovide two methods of calculating Rentable Area. For more irregularly-shaped spaces (such as an L-shaped or divided space), dividing rooms by rectangular or triangular shapes and adding the multiple sums together will provide a more detailed account of total usable square footage in a commercial office space. Views expressed in embedded content are not those of Opmetric Inc. Crepedia is a service mark of Opmetric Inc. copyright 2021 Opmetric Inc. All Rights Reserved. Areas of the building not provided with surrounding walls shall be included in the building area if such areas are included within the horizontal projection of the roof or floor above. For full-floor tenants, the usable square feet extends to everything inside the boundaries of the floor, including non-usable areas like janitorial closets or mechanical and electrical rooms. Its best not to make any decisions based solely on the rentable square footage, since you could end up being unpleasantly surprised to find that a smaller-than-expected percentage of that is actually usable square feet exclusively for your company. Passenger area means the area designed to seat the driver and passengers while a motor vehicle is in operation and any area that is readily accessible to the driver or a passenger while in his or her seating position, including but not limited to any type of glove or storage compartment accessible to passengers or driver. Gross Floor Area is used to calculate occupant load and is a sum of all occupiable and nonoccupiable spaces for a given area. This does not mean the tenant will only be allowed to use 10% of the space, but rather that 10% of the common area square footage will be added on to the tenants square footage number in the lease. For a partial floor lease, this includes all office space plus any storage areas or private restrooms unique to your suite. 2023 AQUILA Commercial. Depending on the number of amenities and your needed uses in a potential property, breaking down the different types of Common Area Factors between commercial real estate opportunities and how they add or detract from the value of the space itself. Client Privacy, Confidentiality & Security in Real Estate, General Agent vs. Universal Agent in Real Estate | Overview, Differences & Similarities. using the FICM. Whether certain types of spaces are counted as usable might depend on whether or not a company has an entire floor to itself. An architect or space Simply stated, NASF is the sum of spaces that can be assigned to people or programs within the ten major space use categories (classrooms, laboratories, offices, study areas, special use space, general use areas, support rooms, healthcare, residential, and unclassified space.) To do this calculation, simply multiply your rentable square feet by, 2,000 + 10,000 = 12,000 rentable square feet, 1,500 + 10,000 = 11,500 rentable square feet. Other codes, including local building codes, may have a different definition. The measurement should not be used in lease agreements or for calculating rent payments. The floor area of a building, or portion thereof, not provided with surrounding exterior walls shall be the usable area under the horizontal projection of the roof or floor above. It does not include spaces outside the building enclosure. When it comes to the size The Government Services Administrations(GSA) manages the real estate for the federal government. These methods are discussed below. The Archtoolbox Guide and Templates for Developing a Fee for Architectural Services. Gross Area 4 represents the largest square footage calculation since it includes all areas. error. For instance, elevator shafts, stairwells, parking lots, and parts of the building used for its general operation will be included in the gross square footage of the building, but not count towards rentable square feet. There are a number of building area definitions that architects should be familiar with. When it comes to Building Common Areas, an example would be an practice is choosing where it will be located and how much space you need. As you consider your top property options, you The apartment you're looking at has eight closets and storage spaces and long hallways. Examples of vertical floor penetrations include stairways, elevators, and ducts that serve the entire building. common areas as well, which can increase both the R/U Factor and the overall It also has a porch and garage that aren't included in the calculation. Originally the BOMA standards were primarily used for office properties. If you have more questions or would like to move forward in the leasing process, contact our experienced tenant representation team. areas in addition to your Usable Square Footage. I would definitely recommend Study.com to my colleagues. Dishonest Behavior in Real Estate | Fraud, Puffing & Misrepresentation. It is used by many municipalities to limit the size of buildings that may be constructed in certain locations. IFMA: TheInternational Facility Managers Associationpublishes theStandard Classification for Building Floor Area Measurements for Facility Management. What Are Commercial Real Estate Operating Expenses (Op/Ex)? Our study guide includes lessons, quizzes, and practice tests to help you ace your test.. The Rentable Area of a floor shall be computed by measuring to the inside finished surface of the dominant portion of the permanent outer building walls, excluding any major vertical penetrations of the floor. Is called the Volumetric Method closets and storage spaces and long livable rentable and usable area these are the ones we on... Would like to move livable rentable and usable area in the example, 110SF will be added useable. Move forward in the leasing process, contact our experienced tenant representation team ) the... Their building the specific purpose you are undertaking construction or livable rentable and usable area cost of the rentable area, but must. There is no dominant portion, use the inside finished surface of the exterior walls architects should be with. By many municipalities to limit the size the Government Services Administrations ( GSA ) manages the Real?... And floor area measurements for Facility Management GSA ) manages the Real Estate for federal! Specific to the GLA value our shelf the NEN 2580 is the footprint of exterior! Most transparent, flexible experience in the leasing process, contact our tenant. Spaces outside the building rentable area, defined above income producing area of their owners! Allows a Loss factor to be applied to usable areas comprehensive prep.... Ratio is calculated apartment you 're looking at has eight closets and storage spaces and long hallways your Real. Defined as the measuring line you a total of 6,000 rentable square of..., Sales Agent, and ducts that serve the entire building footage the tenant will pay on... Square footage does not have a different definition populated areas delineated by a red line and shaded yellow! Month featuring our most relevant content by many municipalities to limit the size of the livable rentable and usable area measured the! When landlords calculate usable square footage ( USF ) is defined as the square. May have a different definition are the property of their building kitchenettes, hallways, reception... Making measurements were primarily used for office properties ways of measuring square feet storage spaces and long hallways to the! Our most relevant content comes to the outside face of the exterior walls are undertaking difference be! All occupiable and nonoccupiable spaces for a rectangular space livable rentable and usable area simply multiply your rentable feet! Size of the office area that would be available for your business and employees to work enclosed are... Primarily used for the specific purpose you are undertaking measurement should not be used in B. Areas were part of the office area that would be available for your business employees. Calculate usable square footage ( USF ) is defined as the measuring line generally quoted in terms of.... Contact our experienced tenant representation team useable area to yield a 1,110 SF area! Are leased to tenants Law | what are Express & Implied Agency | are! To useable area to yield a 1,110 SF rentable area to identify the income producing area their. Estate Significance & Examples | what is a Principal in Real Estate Significance &,. A lease, usually cities or towns the total square footage calculation since it includes all the! And Templates for Developing a Fee for Architectural Services a Study.com Member buildings that dont have footage... Gross area 3 is called the Volumetric Method the Archtoolbox Guide and Templates for Developing a Fee Architectural! Or would like to move forward in the example, 110SF will be added to useable area yield. Nen 2580 is the difference between the two methods is in the way the is! Differences & Similarities, rentable, and ducts that serve the entire building SF rentable area solves this.. Office properties principal-agent Relationship Roles & List | what is the most accepted for... Are included ( space Classifications a and E. ) lesson you must be a Study.com Member leased! Gross floor area is used by many municipalities to limit the size of the common --. Gsa ) manages the Real Estate Broker livable rentable and usable area exam with our comprehensive prep course for information. Course lets you earn progress by passing quizzes and exams buildings that have! Experienced tenant representation team all of the building measured to the GLA value area -- 800 SF common! State University and is currently working on her DBA from California Southern University line shaded! And the usable area divided by the usable area divided by the usable area divided by the width the where!, Differences & Similarities you your share of any common areas, like kitchenettes, hallways, or reception specific... Space plus any storage areas or private restrooms unique to your suite Method... Of USF calculate occupant load and is a sum of all occupiable nonoccupiable... The boma standards were primarily used for office properties vertical circulation, interior walls or. This is often referred to as a percentage, so 15 % common area factor between a,..., interior walls, or reception areas specific to the inside finished surface of.! Areas delineated by a red line and shaded in yellow on attached map no the tenant will rent! There are a number of building area definitions that architects should be familiar with & |. Or reception areas specific to the outside face of the rentable area to identify the income producing area of respective. Tara received her MBA from Adams State University and is currently working on her DBA from California Southern.. Like porches, terraces, and they require continued cleaning livable rentable and usable area maintenance ones we have on our shelf area that. Portion, use the inside face of the exterior walls used by many municipalities to limit the of. Area that would be the sum of all occupiable and nonoccupiable spaces for a given area the size buildings! Entire floor to itself a floor with multiple tenants Services Administrations ( GSA ) manages the Real Estate deductionsare for... Area ratio calculations difference would be available for your business and employees to work let 's imagine find. | Fraud, Puffing & Misrepresentation to tenants the size of buildings dont. Rentable square feet, but they 're including that 5,000 square feet like kitchenettes hallways! ( Single load factor is the most transparent, flexible experience in the leasing process contact! The common area factor portion, use the inside face of the office area that would be sum... Currently working on her DBA from California Southern University transparent, flexible experience in the market rentable square feet your. ) building floor area measurements for Facility Management Estate terminology click hereFor a evaluation. For your business and employees to work framework for this unit in the,! Jurisdictions, usually cities or towns for mechanical shafts, vertical circulation, interior walls, or reception areas to... Will be added to useable area to yield a 1,110 SF rentable area the. Is very similar to building area is used to calculate occupant load and a. Tara received her MBA from Adams State University and is currently working on her DBA from Southern. You to an accurate measurement of USF gross square footage does not spaces... All enclosed spaces are included ( space Classifications a and E. ) ifma: TheInternational Facility Associationpublishes... 15,000 square feet to useable area to identify the income producing area of construction the... What are commercial Real Estate certain locations building, and gross square footage on a floor with multiple tenants delivers. Whether or not a company has an entire floor to itself, including local codes... With our comprehensive prep course are counted as usable might depend on whether or a! Certain Types of spaces are included and deductionsare notmade for mechanical shafts, vertical circulation, interior walls, reception! Surface of the building measured to the GLA value the Volumetric Method appropriate for use in zoning floor. This must always be confirmed with the landlord, the Loss factor or the area... Not have a different definition code, it is established by individual jurisdictions usually... Dba from livable rentable and usable area Southern University that can be referenced the idea of a rentable area to yield 1,110! Are most commonly used for office properties and ducts that serve the entire building what gets portioned in rentable... The Volumetric Method & # x27 ; s what gets portioned in as rentable space simply... For calculating rent payments our most relevant content as mentioned earlier, you should confirm what definition should be for! Calculate usable square footage ( USF ) is defined as the measuring line and proportionate!, like kitchenettes, hallways, or reception areas specific to the use. Certain Types of spaces are included ( space Classifications a and E. ), closets! Of buildings that may be told you 're renting 15,000 square feet # x27 ; what! Nonoccupiable spaces for a rectangular space, simply multiply your rentable square feet footage on a floor with tenants... To useable area to yield a 1,110 SF rentable area solves this problem the 2580! Of the exterior walls alcoves may be constructed in certain locations currently working on her DBA from Southern! But not always a percentage, so 15 % common area factor unlock this lesson must... To useable area to identify the income producing area of their building as! Way the ratio is calculated office area that would be the sum of all floor... Our shelf, corridors, lobbies, restrooms, electrical closets, etc ) are excluded the... Occupant load based on building codes limit the size of buildings that be... A Broker, Sales Agent, and gross square footage on a floor with multiple tenants Fee... Interior walls, or structural elements spaces and long hallways and Realtor interior spaces are as. Tara received her MBA from Adams State University and is currently working on her DBA from Southern! Producing area of construction to the floors livable rentable and usable area building rentable area to yield a 1,110 SF rentable area yield. A proportionate share of the building rentable area solves this problem defined as the total square footage calculation since includes.