Property Valuation
The 'gross building area' (GBA) of an Arizona commercial property differs from 'net rentable area' (NRA) in that:
AGBA and NRA are the same measurement
BGBA is the total floor area measured from exterior walls; NRA excludes common areas, mechanical spaces, and non-rentable portions✓ Correct
CNRA includes parking structures; GBA does not
DGBA is used for residential; NRA is for commercial only
Explanation
GBA (or Gross Floor Area/GFA) measures total building area from exterior walls. NRA (or Net Rentable Area) is the portion tenants actually lease—excluding lobbies, mechanical rooms, stairwells, and other common areas.
Related Arizona Property Valuation Questions
- Accrued depreciation in the cost approach refers to:
- Contribution in appraisal means that the value of any component is measured by:
- When making adjustments in the sales comparison approach, the appraiser adjusts:
- In the income approach, a property generates $36,000 annual net operating income (NOI). If the capitalization rate is 6%, what is the estimated value?
- An Arizona residential appraiser uses the sales comparison approach and finds the subject property has a pool that no comparable sale has. The appraiser should:
- A 'drive-by' appraisal (exterior-only inspection) is typically used for:
- The cost approach to value estimates property value by:
- In Arizona, an appraisal that is completed 'retrospectively' (for a date in the past) is called:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →