Port Angeles WA. Commercial real estate is distinctly different from residential real estate. The terminology is very different and here is a list of new terms from A to M.
Commercial Terms
According to Value: The value of the property when computing property taxes.
Build to Suit: A customized design and build approach for a single tenant space usually resulting in a single occupant building which is then leased or sold to the Port Angeles tenant.
Certificate of Occupancy: Issued by our local Port Angeles city building department and is a necessary requirement prior to moving into the space.
Common Area Maintenance: Typically an annual charge assessed to tenants based on their percentage of occupancy to pay for maintenance of parking lots, bathrooms and open areas.
Demising Wall: A wall between two separate suites in a building with multiple Port Angeles tenants. In many states, the demising wall must meet specific fire safety standards.
Flex Space: A Port Angeles building providing mixed-use space such as an area combining an office and warehouse.
Gross Square Feet: Usually refers to gross footage of a building. GSF is typically arrived at by calculating the footage from the outside of exterior walls multiplied by the vertical footage.
HVAC: Refers to the climate control systems for a building's including heating and air conditioning.
Mechanic's Lien: A legal claim typically filed by a subcontractor to obtain payment for services rendered. The claim arises under our WA. state law and is dependent on each states particular law.
Unlike Port Angeles residential real estate, commercial real estate is primarily considered a business transaction. Learn the terms and you're well on your way to moving smoothly through the process.
There is a lot of free information available to you about buying, selling or investing in Port Angeles real estate. For complete information about the Port Angeles real estate market including, homes for sale, Land for Sale, buyers and sellers info, home values, relocating information ...Please visit my website www.port-angeles-real-estate.com There you'll find everything you need to know about Port Angeles Washington Real Estate
Feel free to contact me (Steve Edwards) at anytime. I'll be happy to answer / address any questions or concerns you may have. Call me anytime ... I can be reached on my cell at: 360-809-3064 or by email at steveedwards@olypen.com
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