Commercial Property Inspection

Whether you are purchasing a 600 square foot office space or 600 unit apartment complex, we will work hard to inform you about the current condition of your investment. The inspection process includes a thorough analysis by a certified building inspector. The inspection encompasses the entire building including the major components of Structure, Plumbing, Electrical, and Heating/Cooling systems.

 

In a triple net lease, or NNN lease, the Lessee (tenant) pays the Lessor (landlord) rent, taxes, insurance, and the Lessee’s share of maintenance expenses for the property. While the rent is mutually established upfront and the projected cost for taxes and insurance can be reasonably estimated based on current costs, estimating and budgeting for future maintenance costs can be difficult without knowing the condition of the building. We provide a comprehensive narrative-style written report, which includes a separate summary report that highlights areas that are of special or immediate concern. Reports will be emailed and, at the discretion of our client, can easily be distributed to all involved parties to ensure transactions proceed in a timely manner.

 

 Our Inspections include the evaluation of all major components in a building, which establishes the components’ current condition, remaining design life, and any immediate and future repairs that are necessary. This type of inspection includes the evaluation of the following components:

  • Structure – concrete, steel and wood components

  • Roof system -- surface material, condition, age and remaining useful life

  • Building envelope – roof and sidewalls including windows and doors

  • Interior finishes – floors, walls and ceilings

  • Heating, ventilation and air conditioning

  • Electrical system and components

  • Plumbing system and fixtures

  • Fire suppression and life safety systems

  • Landscaping

  • Hardscape - walks, roadways, drives, parking areas

  • Storm water drainage

 

The final property condition assessment report includes:

  • Full narrative description of current condition and relevant photos

  • Estimated remaining useful life of major components

  • Recommendations for upgrades and maintenance protocols

  • Cost estimates for repair or replacement of items exceeding $2000

  • Summary report highlighting areas of concern.

 

A lease inspection can have many advantages for the Lessee and/or the Lessor.

Some advantages of a third-party pre-lease inspection for the Lessee include:

  • Verification that components are functioning and suitable for intended use.

  • Knowing the condition of the property and its components prior to occupancy could protect Lessee from assuming liability associated with existing defects or premature failure of components.

  • Understanding long-term maintenance requirements and related costs can be useful for budgeting purposes in NNN leases.

Some advantages of a third-party pre-lease Inspection for the Lessor:

  • Establishing a baseline condition for the property prior to leasing may help owners recover costs for damages incurred during occupancy.

  • Property condition assessment can help owners understand and set/monitor maintenance guidelines expected of tenant.

commercial building inspection