What does OGSF mean in ARCHITECTURE
OGSF stands for Overall Gross Square Feet, which is a crucial element of property analysis used to evaluate and compare properties within a market or sub-market. OGSF is a type of measurement that helps determine how much overall space a property has for tenants and visitors, as well as the size of each individual tenant's space. OGSF, along with other important metrics such as occupancy rate and rental rates, are used by landlords, investors, real estate professionals, appraisers, lenders and more to analyze a property’s suitability for investment.
OGSF meaning in Architecture in Academic & Science
OGSF mostly used in an acronym Architecture in Category Academic & Science that means Overall Gross Square Feet
Shorthand: OGSF,
Full Form: Overall Gross Square Feet
For more information of "Overall Gross Square Feet", see the section below.
Definition
Overall Gross Square Feet (OGSF) refers to the total area of a commercial real estate property under roof, including office or industrial units along with common areas like lobbies or hallways or even an attached parking garage. This measurement does not take into account any outdoor spaces such as driveways or landscaping. It also excludes any basements if they are present in the building.
Calculation
Calculating OGSF involves multiplying the length (l) times the width (w) in feet for each floor/level inside the structure. These calculations should be done separately for each distinct area/space within the building such as office units and exterior parking structures. The sum of these measurements will give you the overall square footage (S), which is then multiplied by 1.15 to get your overall gross square feet (OGSF). [(l x w) x 1.15 = OGSF]
Applications
The most common application of OGSF is in evaluating investment opportunities when little historical data exists on similar investments in that geographic location or asset class. When viewing multiple properties at once from a dollar per square foot view point (i.e., cost divided by OGSF), it can provide useful insights into which properties may be offering better value-for-money investments than others on offer at that time. Additionally, when combined with data points such as vacancy rates, rental income and operating expenses it can provide an investor with valuable insight into whether a particular property is suitable for their requirements or risk profile before committing themself to buy it.
Essential Questions and Answers on Overall Gross Square Feet in "SCIENCE»ARCHITECTURE"
What is Overall Gross Square Feet?
Overall Gross Square Feet (OGSF) is a measurement of the total square footage of a building or property. This includes all common areas, finished and unfinished spaces, such as lobbies, hallways, storage rooms etc. It does not include any outdoor areas such as patios or decks.
How is Overall Gross Square Feet calculated?
OGSF is typically calculated by taking the length in feet, multiplied by the width in feet, to give the total area in square feet. This calculation should include all non-outdoor areas within the building/property.
How does overall gross square footage differ from other measurements?
Other measurements such as net leasable area (NLA) and usable area (UA) include only rentable spaces within a building and do not include common areas such as lobbies, hallways and stairwells. OGSF on the other hand takes into account all spaces within a property which gives a more comprehensive view of its size.
Is it possible to have an overall gross square footage of zero?
No, it is not possible for the overall gross square footage to be zero as it involves measuring all non outdoor areas within the property. If there are no rooms and common areas then this means that the building/property does not exist which would not be possible to measure anyway.
What factors do I need to consider when calculating OGSF?
When calculating OGSF you will need to take into account all non-outdoor areas within a building/property including but not limited to common areas such as lobbies, hallways and stairwells; regardless of whether these spaces are finished or unfinished.
IsOverall Gross Square Feet different from interior square footage?
Yes, OGSF differs from interior square footage because it includes both finished and unfinished spaces while interior square footage measures only finished spaces. Additionally, OGSF takes into account any outdoor areas whereas interior square footage does not.
Can I use Overall Gross Square Footage for legal purposes?
Yes, depending on your jurisdiction you can often use OGSF for legal purposes such as zoning regulations or real estate transactions since it provides an accurate picture of a property’s total area size. It is important that you consult with knowledgeable professionals regarding applicable laws in your locality before using OGSF for legal matters though.
Final Words:
Overall Gross Square Feet (OGSF) is an important metric used to measure and compare commercial properties when making an investment decision. It not only informs investors about how much differentiable useable space there is onsite but also helps them decide if they should purchase one over another based on its value compared to its peers found in the same vicinity or asset class. Equally important however, understanding what data points make up this calculation will help ensure that all parties involved agree on what constitutes true ‘overall gross square feet’ measurements before moving forward with an investment decision.
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