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Rate differencial between basement and upper floors

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Kassem Tawil

Thread Starter
Freshman Member
Joined
Sep 24, 2002
My company occupies several floors (including basement) of a class A building. I am analyzing charge back rates to subgroups occupying different areas on the building, and would like to charge a different rate to occupants of the basement. The basement office space is no different than any other part of the building except for the "view". For the most part, basement has none, where as upper floors enjoy nice suburban scenary.

My question is: In the real estate world, are there differences in office space rental rates between a basement of a Class A building and more desireable upper floors. If yes, then what is a typical rate difference (e.g. basement rate would typically be 20%-30% lower than rest of the building)? Is there any literature or published information on this rate differencal issue?

I have virtually no real estate experience, and would appreciate any comments you may be able to provide.
Thank you.
 

BenLuby

Senior Member
Joined
May 28, 2002
Professional Status
Certified Residential Appraiser
State
Georgia
Kasseem,
Get an appraisal done on the property for rental values. That would be your best bet to get top dollar for your property and keeping vacancies down to a minimum. Theres at least one Jersey appraiser on the forum. Maybe he can help.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
The answer to your question is yes. As to what the rates are depends on many things such as LOCATION.
 
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