A Complete Property Condition Assessment Cost Breakdown

By - Chris Barnard
Last Updated - March 22nd, 2024 2:04 PM
warehouse property condition assessment

A property condition assessment is essential for all commercial buildings, notwithstanding their size, age, or location. 

In fact, whether you’re an existing owner, building manager, potential buyer, or tenant, you do need these assessments. After all, a PCA is the only way you can gain thorough insights into a building’s condition and take steps to safeguard your investment. 

But before you go about a building assessment, you might have one big question on your mind: How much will a property condition assessment cost? 

And you aren’t the only one with this question. As a building inspector, I am asked this question by just about everyone looking to obtain a property condition assessment report. 

This is exactly why I’ve detailed a complete breakdown of condition assessment costs. So read on and find out exactly how much it will cost you. 

How much will a property condition assessment cost you? 

A property condition assessment and report can cost you in the range of $1250 and $2500. 

But it goes without saying that this is just an average assessment cost, and the actual cost you incur can vary. 

For instance, if you want a PCA report for a standard single or double storey commercial building in Florida, you can expect to pay in the above range. Nevertheless, a condition assessment for a large multistoried building can cost you an upward of $10,000. 

You see, commercial property inspectors like myself will provide you with a personalized assessment quote. And the amount we quote you will depend on various factors such as your building’s location, size, age, etc. 

Now, if you’re wondering how these factors affect the cost of PCA, I’ve detailed it all. So, let’s have a look.

You might also want to read – What Is A Property Condition Assessment Report

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What factors determine the cost of property condition assessment? 

The cost of assessing your property’s existing condition depends on various factors. And not all of these factors have to do with your building alone. 

For instance, while the size of your commercial property is an essential cost determinant, the expertise of your building inspector is also a factor at play. 

Similarly, the availability of building documents, its past assessment history, etc., will also influence the assessment cost. 

All in all, here are the factors that will decide how much you pay for a property condition assessment:

#1. The size of your property 

If there’s one most important factor that’ll drive the cost of PCA up or down, it is the size of your property. 

You see, most commercial inspectors quote you on the basis of the total square footage they inspect. So, the larger the square footage, the more you can expect to pay for a property assessment. 

For instance, let’s suppose I have a fixed charge of $0.15 to inspect your property per square foot. 

Now, if you own an office space spanning a total area of 10,000 square feet, I’ll charge you $1500 for a property condition assessment. 

However, if you own a retail store that’s 30,000 square feet in size, this cost will go up to $4500. 

Read further: A Complete Commercial Building Inspection Checklist For 2024

#2. Your building type 

Another important factor that decides the cost of property assessments is the type of commercial building. That’s because inspectors like myself determine their per square footage charges based on the building type. 

For instance, let’s say I’ve to inspect two buildings sized 25,000 square feet each. Here, while the first building is an office space, the other building is a warehousing facility. 

So, the fact that warehouses are less complex to inspect than office spaces means that my per-square footage charges will be lower, too. 

Going by the present industry norms, you can expect a per-square-foot cost of $0.10 for warehouse assessment. This is $0.05 lower than the standard $0.15 that inspectors like me will charge you for assessing the office building. 

Meaning that while the 25,000 square feet office assessment will cost you $3750, a similar sized warehouse will cost you $2500. 

Bonus: A property condition assessment is different from a facility condition assessment. And that means the above cost breakdown will not be applicable if you’re looking to get an FCA.

Wondering what are the differences between a PCA and an FCA?

You can read my blog – PCA Vs FCA Assessments In Commercial Real Estate.

#3. The age of your building 

Picture this: A 50,000 square feet newly constructed commercial property’s assessment can cost you up to 25 percent less than a 50-year-old building of the same size. 

Sounds strange, right? 

But this is true. And this happens because of the following reasons: 

  1. Inspectors need to assess historical building records, which include all relevant documents right from the time the building was constructed. 

Now, there’s a good chance that a 50 year old building will have some of these documents missing. And although it’s possible to find the essential information, it adds up time and increases inspection cost. 

  1. The older the building is, the more documents inspectors will need to examine. This will inevitably increase the cost of assessment. 

#4. Your property’s location 

The location of your property will also influence the overall property condition assessment cost. After all, a building located at an easily accessible location will cost less to assess compared to one at a far off location. 

You see, this has to do with the additional time and resources that an inspector will spend reaching your property.

For instance, if an inspector has to drive a hundred miles for a couple of hours to reach your property, they will charge you extra. 

#5. The inspector’s experience and qualifications 

As a rule of thumb, a more qualified and seasoned building inspector will quote you more than a newbie. 

For instance, while it is a prerequisite for all inspectors to carry a state-specific license, those who are certified by InterNACHI and NACBI, among others, might charge you accordingly. 

This is because certifications and experience matters a lot for property condition assessments. Simply speaking, the more your inspector’s experience the higher the assessment quality you can expect. 

In the same way, the assessment standards that your inspector follows will also determine the pricing. 

For instance, ASTM E2018 standards are the highest property condition assessment standards in the country. So, if your inspector is qualified enough to follow these standards, you can expect to pay slightly higher. 

You might also want to read – How Much Does A Commercial Building Inspection Cost

To wrap up 

As you can see, the cost of building condition assessment cost isn’t fixed and varies for different properties. 

In fact, even if two buildings are of the same size, it is possible that the cost of assessment will vary if the buildings are used for different purposes. 

I hope I was able to provide you with a clear pickete of property condition assessment cost with this pricing breakdown. 

Not sure how much a property condition assessment and report will cost you? 

Get in touch with us and receive a free quote!

With multiple certifications and highly seasoned commercial building inspectors on-board, we have also got your property condition assessment requirements covered.

Have you read: How Much Does A Phase 1 Environmental Site Assessment Cost?

Chris Barnard

Hi there! I am Chris Barnard, a licensed building inspector and the founder of Florida Commercial Building Inspectors. With over two decades in the inspection industry, I’ve delivered thousands of commercial and residential inspections across various states. During all these years, I’ve developed detailed insights on the ins and outs of building inspections, something I look forward to sharing with you through my blogs.

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