A-BC-DE-FG-HI-JK-LM-NO-PQ-RS-TU-VW-XY-Z

Commercial Real
Estate Dictionary

Multifamily

Definitions

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Ceiling Height - Mainly for multifamily or residential properties, the distance between the floor and the finished ceiling. Ceiling heights of 9 feet and up are preferable.

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K-L

Lease-up Velocity - The metric that shows the monthly absorption of a new or newly renovated property. This metric is common in new multifamily developments to understand, on average, how many new leases are being executed per month. If a building has 100 units and a leasing velocity of 10 units per month then that building is on track to be fully leased within 10 months.

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O-P

Per Unit or Per Door - Multifamily purchase prices are commonly quoted as “per unit” and more commonly in industry slang as “per door.” For example, if a $1 million property has 10 units, the purchase price would be $100,000 per door.

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U-V

Unit Mix - A breakdown of the type of units in a multifamily property. This summary will show you the types of units (1 bed, 2 bed…) with their average size (SF), how many of each are at the property, and what percentage of the total they represent.

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