Commercial Property Inspection

The purchase of a commercial property is a substantial investment of money, time and effort that requires careful due diligence on the part of the purchaser; and that means a thorough commercial inspection. A commercial inspection is performed according to national standards and is much more involved than a regular property inspection. There are many different types of buildings that are considered commercial properties including office buildings, hotels, churches, warehouses, retail stores, entertainment venues and others. These different building types demand different commercial inspection criteria. Variables such as the age of the building, occupancy rate, usage and kind of construction all have an effect on how the building should be inspected.

Commercial Inspection Assessment

A commercial inspection is a complete physical and, by implication or directly, a financial assessment of the property, performed by specially trained and licensed professionals. The commercial inspection can be used as an accurate predictor of the real cost of ownership (cost analysis) of a property in question, including necessary repairs, regular maintenance and costs of operation, often called running expenses. Although the overall commercial inspection is guided by industry norms, each one can be designed to meet the specific needs of the client. In some cases, it may be limited to the exterior of the building, or to specific areas as directed by the client.

What is included in a Commercial Property Inspection

Included in a commercial inspection is an exhaustive list of items that should not vary from one commercial inspection service to another, but some may offer additional services. For example, a partial list of items to be addressed in a commercial inspection will include, but is not limited to, the roof including eaves, soffit and fascia, gutters and downspouts, vents, flashing and trim, stoops, pathways, parking facilities, grading, foundation basements and crawlspaces; electrical systems including meter boxes, fuses and main shutoff, insulation, ventilation, moisture, heating/cooling systems and a great deal more. Unlike the home property inspection, the commercial inspection must also consider future maintenance, issues of health and public safety and may require property research and special consultants in certain cases.

Commercial Inspection Report

Finally, the commercial inspection will produce a property condition report generated by the inspection services company. It can be very complex, often requiring much time and several consultants to properly analyze all of the material it contains. The value of the report is both technical and financial in its scope and can be used by the prospective buyer as an essential tool in determining the practicalities of the purchase.

Commercial Property Inspection Cost

The cost of a commercial inspection varies significantly based on several criteria such as age, size and location. Other factors like elevators, swimming pools, complexity and environmental issues will increase the cost. Typically, the cost of a commercial inspection will begin at around $1,000 and can in fact grow to many times that amount. The time required to complete the job will likewise range based on the same factors. The most basic commercial inspection can be done in several hours; some can take several days.