Retail centers can take many forms.  They begin at small single tenant or owner occupied units, and
progress to neighborhood shopping centers, followed by community shopping centers and then regional
centers.  

Other types would include regional shopping malls and then on up to super regional shopping centers.  

There are several other types of shopping centers such as lifestyle, power, outlet, etc.  

If you plan on building a shopping center, you will want to know how long it will take to lease the property
and what the rent rate will be.  We can provide market and feasibility studies in addition to appraising the
property.

Building a shopping center with multiple tenants can be a pretty risky investment.  The risk can be
significantly reduced by having a market study and fundamental demand analysis performed by a qualified
real estate appraiser.  The appraiser collects information about existing retail centers that compete with
the proposed shopping center, any shopping centers currently under construction and shopping centers
that have been approved by government authority but have not begun construction.  This information is
coupled with existing population and growth patterns and analyzed in the market study based on
expenditures per square Foot of retail space.  These facts let the appraiser determine if the current
population can absorb another shopping center or if future growth will allow the absorption in the future.  
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Appraising America one piece at a time
APPRAISING SHOPPING CENTERS AND RETAIL PROPERTY
WHAT TYPE OF SHOPPING CENTER DO YOU NEED APPRAISED?

SHOPPING CENTER TYPE

SUPER REGIONAL CENTER

The super-regional center provides an extensive variety of shopping goods comparable to those found in the central business district of a major
metropolitan area, including a wide selection of general merchandise, apparel, and home furnishings, as well as a variety of services and
recreational facilities. The principal tenants of a super-regional center include at least three full-line department stores of generally not less than
75,000 square feet each
.
The average total floor space (GLA and all other floor area) of the super-regional centers participating in the study is about 1,014,419 square
feet; the median is about 1,021,972 square feet, with 80 percent of the centers between 1,344,041and 670,080 square feet in size.

REGIONAL CENTER

The regional center provides a variety of goods comparable to those found in a central business district in a small city, including general
merchandise, apparel, and home furnishings, as well as a variety of services and perhaps recreational facilities. One or two full-line department
stores of generally not less than 50,000 square feet of GLA are the principal tenants in this type of center.

The average total floor space (GLA and all other floor area) of the regional centers in this study is about 535,339 square feet; the median is
about 551,034 square feet, with 80 percent of the centers between 811,785 and 298,282 square feet in size.

COMMUNITY CENTER

The community center provides a wide range of goods and services, including apparel and home furnishings, banking, professional services,
recreational facilities, and convenience goods. A discount department store and/or supermarket is often the principal tenant in this type of center.

The average total floor space (GLA and all other floor area) of the community centers in this study is about 198,958 square feet; the median is
about 181,748 square feet, with 80 percent of the centers between 396,318 and 111,819 square feet in size.


NEIGHBORHOOD CENTER

The neighborhood center provides for the sale of convenience goods such as food, drugs, hardware, and personal services. A supermarket is
the principal tenant in this type of center.

The average total floor space (GLA and all other floor area) of the neighborhood centers in this study is about 61,809 square feet. The median
is about 59,960 square feet, with 80 percent of the centers between 92,190 and 39,192 square feet in size.

CONVENIENCE CENTER

The convenience center provides for the sale of convenience goods and personal services similar to those of a neighborhood center. Instead of
being anchored by a supermarket, a convenience center usually is anchored by personal and convenience services.

The average total floor space (GLA and all other floor area) of the convenience centers in this study is about 18,754 square feet; the median is
about 19,762 square feet, with 80 percent of the centers between 28,242 and 10,410 square feet in size.