A triplex has 2,990 SF of gross building area with three identical units each with 5 rooms, 2 bedrooms, 1 bathroom. it sold for $428,000. what is the indicated sale price per room is $28,533
A measurement unit called "gross building area" is used in commercial property appraisals. This measurement is unique from the Gross Living Area, or GLA, unit of measurement most frequently used for residential real estate. The whole enclosed area of a structure, including all floors, is known as the gross building area.
The outer surface of the exterior walls is used to compute the slab area, excluding elevator shaft apertures. Without taking into account elements like stairwells, walkways, common areas, shared spaces, along with unusable or non-leaseable parts, the gross building area is estimated by measuring to the exterior completed surface of the permanent building walls.
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