physical obsolescence

physical obsolescence

The deterioration of a property due to wear and tear or abuse.

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due to variations in the fleet for his moral and physical obsolescence.
Additional expenditure will undoubtedly impact on the market, particularly for secondary stock where we are already seeing the effect of physical obsolescence on pricing and marketability.
This analysis should include areas of physical obsolescence like roof replacement, siding and carpets, as well as plumbing, HVAC and any mechanical systems.
The tax assessor may contend that it has already accounted for obsolescence, but taxing authorities usually only consider physical obsolescence.
Since detailed commercial property data became available in 1980, the retail sector has enjoyed a yield premium, reflecting the fact that the sector had far better rental value growth than offices or industrial, and, in the case of shops, the least physical obsolescence and readily accessible lot sizes.
Physical obsolescence can be measured by an examination of maintenance policy and performance.
Physical Analysis: A review of the physical plant must be addressed such as functional, economic or physical obsolescence, ADA compliance, amenities and competitiveness, deferred maintenance, health and safety issues.
When using the cost approach only, it is vital to incorporate only estimates of functional and physical obsolescence at this time.
Proactive Investors and landlords should be starting to identify which of their properties are at risk of falling secondary stock where we are already seeing the effect of physical obsolescence on pricing and marketability.

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