Best Use Sample Report
Best Use and Location Risk Score Assessment
Key definitions
Address
Mt Arlington, NJ 07856
Area = 130,447 ft²
Best Use Basket・29
0.16
0
1
Best Uses
29 of 188
Location liquidity rate
Average
Best Use Basket・29
Current use
Services
Photographic studios
Vocational schools
Commercial sports
Dance studios, schools, halls
Theatrical producers, bands, entertainers
Child daycare services
Mailing, commercial art, photography
Research, development, testing services
Programming, data processing
Construction
Special trade contractors
Carpentry, floor work
Electrical work
Plumbing, heating, air-conditioning
Heavy construction
Public administration
Executive offices
Courts
Manufacturing
Laboratory, analytical, measuring devices
Electronic components and accessories
Retail trade
Retail nurseries, garden supply stores
Used merchandise stores
Sports
Sports center
Tourism
Important tourist attraction
Transportation and public utilities
United States Postal Service
Best Uses – statistics
Best Use
Industry
Match rate ↓
%
Number
N
Frequency
%
Location Risk Score
Current
Benchmark
Delta
Rental rate
ft²/$K/y/median
Retail nurseries, garden supply stores
Retail trade
92.9
33
15.6
5.5
5.3
0.2
—
Important tourist attraction
Tourism
86.8
34
17.9
5.4
5.7
– 0.3
14
Executive offices
Public administ…
81.0
35
13.8
5.4
5.9
– 0.5
18
Photographic studios
Services
80.5
63
15.9
4.9
5.5
– 0.6
26
Vocational schools
Services
78.5
52
15.2
5.5
5.5
– 0.6
26
All Best Use options are in the full report
Annual rental revenue estimate
$1,826,000
Best Uses Match rate vs. Number
●
Best Uses
●
Other
Current property uses
Best Use
Services
Programming, data processing
Offices and clinics of doctors of medicine
Candy, nut, confectionery stores
Engineering, architectural services
Management, public relations services
Finance
Insurance agents, brokers, services
Manufactoring
Food preparations, kindred products
Additional information on location
LRS Commercial potential
Commercial potential
Visitation
Business
5.9
• average
7.6
4.4
Location with moderate accessibility to top centers, and average concentration of visitors and businesses
Visitation is above Business score, an opportunity to grow business diversity
Visitation trends
Monthly visitors
% of July 2019
2 min – 3 h
3+ hours
2+ minutes (total)
Key definitions
Location Liquidity Rate
Number of Business Categories in the Best Use Basket as a % of total number of Business Categories. Higher rate offers better commercial flexibility and shows how quickly a property can be sold in the market, or re-profiled into a better-performing asset.
Best Use Basket
(BUB)
Composition of Best possible Uses represented by a list of Business Categories for the Selected Address.
Best Use
A Business Category that extracts the highest possible economic value of the property at the Selected Address, compared to the other locations where this Business Category is present. Selection criteria: LRS value of the property address should be within statistically meaningful proximity of the most frequent LRS value in this Business Category.
Business Category (BC)
Category of business defined under Standard Industrial Classification (SIC) 4-digit level.
https://www.osha.gov/data/sic-manual
Match Rate
BC to BUB, %
Measure of how well a Business Category matches the Best Use Basket of the Selected Address. 1% — low, 100% — high. Threshold: 60% and higher.
Businesses
(Number)
Total number of businesses within the selected Business Category located in all the addresses of the Selected Geography*, and scored on LRS scale similarly to the Selected Address. This number shows how unique (a theater) or conventional (a grocery store) this Business Category is.
Businesses
(Frequency), %
Measure of how frequently businesses of the selected Business Category appear in all possible addresses of the Selected Geography*.
Frequency = Number of Businesses/All businesses in this Business Category in the whole Selected Geography* x 100%.
Location Risk Score (LRS)
Indicator of the Commercial Potential** of the catchment area around the property at the Selected Address: from 1 for high risk, low potential, to 10 for low risk, high potential. The size of the catchment area depends on Business Category (i.e, small for grocery stores, large for corporate offices), as well as on the scale of the business.
LRS
Selected Address (LRS_S)
Location Risk Score, calculated for a given Business Category at the Selected Address.
LRS
Benchmark Addresses*** (LRS_B)
Location Risk Score average for all addresses where an occurence of the businesses within the selected Business Category is the most frequent.
Delta = LRS_S – LRS_B
Measure of commercial advantage (positive value) or disadvantage (negative value) of the Selected Address over Benchmark Addresses***. A higher Delta corresponds to a better Match Rate.
*
Selected Geography - an overall area, selected as background context: globe, nation, state, metropolitan area, county, and the like. In the current case the selected geography is represented by five counties in New Jersey: Morris, Sussex, Passaic, Hunterdon, Somerset.
**
Commercial Potential is the function of visitation and business diversity of the catchment area.
***
Benchmark Address is an address taken for a comparison with the selected address.
Habidatum International, Inc.
New York, US
Podgorica, ME
Tallinn, EE
ask@habidatum.com
+1-347-321-8220
447 Broadway 2nd Floor #378,
New York, NY 10013, USA