usable square footage

Advanced 🏠 Real Estate

Definition

The actual floor space a tenant can occupy, excluding common areas like lobbies and hallways. In commercial leases, this differs from rentable square footage through a multiplier that ensures you pay for space you can't actually use.

Example Usage

Their office had 3,000 usable square feet but paid rent on 3,450 rentable square feet once the common area factor was applied.

Origin

Commercial space measurement standards from Building Owners and Managers Association (BOMA), formalized in 1915

Fun Fact

The difference between usable and rentable square footage, called the 'loss factor' or 'load factor,' typically ranges from 10-20% but can exceed 30% in some buildings.

Source: BOMA office space measurement standards

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