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Are you new to buying a Vancouver, BC Commercial Property for Sale? Buying a Vancouver, BC Commercial Property for Sale as an investment is attractive for many people. If you’re considering that, here are some vocabulary and terms used in Commercial Real Estate you should be familiar with.
Acquisition cost – The total cost to the purchaser of a property; includes soft costs and sales costs.
After tax yield – This is the annual profit remaining after payment of income taxes, or the annual return on equity after payment of income taxes.
After tax yield rate – The annual rate of return on equity after payment of income taxes.
Amortization – The process of paying off a debt, together with interest, usually with equal payments at regular intervals over a period of time.
Appraisal Estimate – This is the process that leads to an estimate of the value of a property, and can also refer to the report that states the estimate and conclusion of value.
Assessment – This is a levy against a property in addition to general taxes, and it is usually applied by a civic authority for improvements such as streets, sewers, etc.
Assignment – The method or manner by which a right, a specialty, or contract is transferred from one person to another.
Blanket mortgage – This is a single mortgage covering more than one property, such as a mortgage covering all the lots of a builder in one subdivision.
Capital improvements – These are additions to the property or improvements that enhance or extend the useful life of the property.
Capitalization – This is the anticipated stabilized rate of return from an investment. Also known as the cap rate.
Cash flow analysis – A projection of the buyer’s estimated cash flow over the holding period.
Density – This is the amount of total square feet buildable on a set land. For example high density properties feature more floors.
Encroachment – A building, part of a building or obstruction which intrudes on another property.
Encumbrance – A claim, lien, charge or other liability attached to real property which may diminish its value.
Floor space ratio – Also known as FSR, the maximum floor space of a building relative to its land area.
Free and clear – When there are no liens or loans against real property.
Lien – A hold or claim which one person has upon property of another as security for a debt, charge, tax or judgment.
Negative cash flow – When the income from an investment property does not equal the usual expenses. The owner must come up with cash each month to meet these expenses.
Net income – The difference between effective gross income (property) and the operating expenses including taxes and insurance. The term is qualified as net income before debt service.
Net lease – A lease requiring the tenant to pay, in addition to a fixed rental, the expense of the property leased, such as taxes, insurance, maintenance etc.
Net operating income – Also known as NOI. This is the annual net income remaining after deducting all fixed and operating variable expenses, but before debt service and income tax. The specific formula is: NOI = Scheduled rental income + other income – vacancy and credit losses – operating expenses.
Non-conforming use – Property used for purposes that do not conform to the permitted uses in the municipal or provincial zoning by-laws.
Option – The right to purchase or lease a property at a certain price within a designated period of time for which a consideration is paid.
Yield – This is the ratio of income from an investment to the total cost of the investment over a given period of time.
Zoning – The rules of a municipality that detail the allowable uses for the real property in specific areas, and only then on specified conditions.
According to the release of the Statistics on September 15, 2022 by Commercial Edge, Lower Mainland’s commercial real estate market sees fewer transactions in the second quarter of 2022.
There were 485 commercial real estate sales in the Lower Mainland in Q2 2022, a 34.3 per cent decrease from the 738 sales in Q2 2021.
The total dollar value of commercial real estate sales in the Lower Mainland was $3.265 billion in Q2 2022, a 12.2 per cent decrease from $3.719 billion in Q2 2021.
Owned and operated by the Greater Vancouver Realtors® (GVR), the Commercial EDGE system includes all commercial real estate transactions in the Lower Mainland region of BC that have been registered with the Land Title and Survey Authority of British Columbia.
Commercial EDGE is updated monthly based on data originating from the BC Assessment Authority. Commercial EDGE does not include share sale transactions as they are not registered with the Land Title and Survey Authority of British Columbia. Please note that historical data may be subject to revision as transaction records are received from the Land Title and Survey Authority of British Columbia.
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