Mixed-Use Property
A property combining two or more uses — commonly residential over retail. Valuation must address both components and the rules of the applicable financing: residential lending tolerates limited commercial influence, beyond which commercial standards apply.
Related Terms
Highest and Best Use
HBUThe reasonably probable use of a property that results in the highest value, considering uses that are legally permissible, physically possible, financially feasible, and maximally productive..
Income Approach
A valuation method that estimates a property's value based on the income it generates or is expected to generate.
Zoning
Local government regulation of land use — districts that control permitted uses, density, height, setbacks, and lot requirements.
More in Property Characteristics
View allGross Living Area (GLA)
GLAThe total finished, above-grade living area of a residential property, measured in square feet.
Gross Building Area (GBA)
GBAThe total area of a building measured from the exterior walls, including all finished and unfinished, above-grade and below-grade spaces.
Below-Grade Area
Any portion of a building that is below the ground level on any side.
ANSI Z765 Measurement Standards
ANSIThe American National Standards Institute standard for measuring residential floor area.