NV5 is experienced in conducting Property Condition Assessments on all types of commercial properties. The PCA, sometimes referred to as a Property Condition Report (PCR), is designed to assess the physical condition of a property by conducting a limited walk-through survey in compliance with ASTM E2018-15 Standards Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.
What is included in a Property Condition Assessment and Report?
NV5 works with commercial real estate owners and managers, investors, investment bankers, and other professionals to provide high-quality PCAs.
We know that every client has unique needs, which is why our team works with you to determine your Property Condition Assessment scope and format.
The Field Observer preparing the report will note any material physical deficiencies or deferred maintenance for the following:
- Site improvements
- Structural framing and building envelope
- Facades
- Roofs
- Mechanical/Plumbing/Electrical
- Elevators
- Life safety/fire protection
- Interior elements
- ADA compliance
The report will identify deferred maintenance and categorize these issues, based on severity into either “Immediate Needs” or “Short Term Costs”. A Replacement Reserve Table is also included in the scope of a PCA. The Replacement Reserve will typically estimate the building’s capital replacement schedule over the designated evaluation period.
You will need to provide basic information about the property when ordering a PCA. This information includes:
- All addresses associated with the property. This should include current and former addresses if known.
- The contact information of a knowledgeable site personnel. This is someone who is familiar with the property and can arrange access to the site.
- A rent roll, if applicable.
- The ALTA Survey, acreage, map and site plan of the property in addition to an accurate description of the property.
- Accurate building information such as age, square footage, construction information, and past and planned capital expenditures.
For more information on what to include, we have created a helpful property condition assessment guide with tips for ordering Property Condition Assessments. You can also view our sample Property Condition Assessment to learn more about our detailed assessment reports.
NV5 Real Estate Transaction Services’ ASTM Property Condition Assessment Product
Property Condition Assessments are a key aspect of commercial real estate due diligence and it is important to work with an experienced company. NV5 is committed to providing well-researched, quality Property Condition Assessments and Reports at competitive prices that follow ASTM E2018 Standards. Want to learn more? Request a quote today or contact us to learn more about our Property Condition Report.
NV5 Real Estate Transaction Services Related Environmental and Assessment Services:
- Phase l Environmental Assessments (ESAs): Identifies Recognized Environmental Conditions (RECs) that are associated with the property that could impact its value.
- Phase ll Environmental Assessments (ESAs): This is an additional report that is prepared when the Phase I Environmental Site Assessment warrants additional study.
- Other services which include:
- Geotechnical Engineering Services
- Probable Maximum Loss Surveys
- Asbestos Surveys
- Lead Based Paint Surveys
- Moisture Minimization plan
- Radon Surveys
- ADA Studies
