A property condition inspection can reduce building costs and liability.
Sophisticated investors are becoming aware of the importance of performing a detailed, specialized inspection of commercial & industrial properties, often referred to as a Property Condition Assessment (PCA). With the hefty cost and liability of owning commercial real estate, investors need to obtain specific information about the physical, mechanical and environmental condition of the building they are about to purchase or lease.
Components of A Building Inspection
1. Document Review and Interviews
Structure & Site will request and review documents pertaining to the original build, previous repairs, building upgrades and additions, documented physical deficiencies and other relevant information concerning the overall condition of the building or property and will be included in the Property Condition Report (PCR). Interviews of persons knowledgeable of the building and/or its history will be conducted when made available.
2. On-Site Review
The on-site review allows us to physically inspect the buildings structures, systems and components. Our analysis will identify visible physical deficiencies as well as positive attributes of the building. Testing of mechanical, plumbing, ventilation, electrical, fixtures and equipment will also be conducted during the review process.
3. Costs to Cure Physical Defects
It is important for a building owner to understand the costs associated with immediate and deferred expenses of the property. A detailed, approximated cost analysis for the remedy of physical deficiencies found at the property will be included within the PCR for immediate needs and 5 year reserves.
4. Property Condition Report
A comprehensive report will be presented detailing each facet of the building. Many photographs will be inclusive to the individual sections of the PCR including: property & grounds, building exterior, pavement, roofing, electrical, HVAC equipment, interior, life safety, ADA and plumbing. The report is designed to provide swift access and readability of the relevant information of the property.
What We Inspect
- Structure & Foundation –Build methodology, foundation material, and framing material will be evaluated. The buildings core strength systems will be reviewed for areas of stress, weakness and failure.
- Roof – The surface material, flashings, chimneys and drainage components will be reviewed. A determination of age, overall condition and anticipated lifespan will be reported. Immediate repairs will be identified and replacement costs calculated.
- Exterior – Framing properties, exterior materials, window frames, lentils and doors and doorframes will be examined.
- Property & Grounds – Condition of asphalt and concrete driveways, walkways, landscaping, truck wells, storm water drain locations, grading, building signage and site lighting are evaluated
- Electrical – Size of incoming service, quantity and size rating of distribution panels, system grounding, outlets, switch panels, ground fault circuits, arc fault circuits, transformers and lighting.
- Heating & Cooling – Age of equipment, overall condition, functional testing, number of units and maintenance history. Costs associated for replacement units.
- Plumbing Analysis – A flood test (operating all water outlets simultaneously) to test – water pressure, distribution piping, waste piping, bathroom fixtures and hot water tanks.
- Interior – All interior elements including walls, ceilings, flooring, bathrooms, warehouses, offices and storage areas will be examined and detailed
- Repair & Replacement Cost Breakdown – An assessment of anticipated costs for the repair and/or replacement of any significant deficient item from immediate to five years.
- Americans with Disabilities Act (ADA) Review – Does the site provide adequate parking, curb cuts, wheelchair ramps, entrance configuration, restrooms, drinking fountains, elevator controls, signage, fire protection?
- Fire Protection – Assessment of central sprinkler systems, fire pumps, emergency lighting, illuminated EXIT signs, smoke and temperature monitors, fire extinguishers, certification tags.