(317) 218-1010
info@parthenoncommercial.com

Commercial Property Assessments

Parthenon Commercial Corp. provides commercial property assessment and consultation services.

Parthenon Commercial Corp. is a commercial real estate consulting firm based in the Indianapolis area, and provides thorough commercial property condition assessments throughout Indiana and beyond. Our team of building inspectors is professionally trained to the standard established by the American Standard for Testing and Material (ASTM) regarding Property Condition Assessments (PCAs). We provide a variety of assessments, built to meet your specific needs. Call us at (877) 218-1010 for your commercial property assessment, or request more information now.

Property Condition Assessments (PCA)

A Property Condition Assessment (PCA) is a comprehensive evaluation of the overall physical condition of a commercial property. This report includes a review of obtained property documents and information, an onsite assessment of property components and systems, cost estimate schedules, and a review of regulatory compliances. This detailed assessment includes all components of the property including all structures and systems within. Our PCAs meet or exceed the standards highlighted in the ASTM E2018 Standard Guide for Property Condition Assessments. Our thorough and easy to read report includes an analysis of recommended immediate costs, as well as a replacement cost analysis for the next five years. The immediate cost analysis identifies any item or system that is failing, or could cause further damage to the property or system if not remedied, and any life safety issues. The final report will be submitted within seven to ten business days after the date of the site visit.

Property Condition Assessments in Indianapolis

The following systems and components are included in the PCA:

  • Interior and exterior components
  • Roof
  • Structure
  • Mechanical, electrical, and plumbing systems
  • Fire and life safety systems
  • ADA Tier I Survey
  • Parking area and drives
  • Any other structures and components on the property

Physical Needs Assessments (PNA)

Physical Needs Assessments are designed to evaluate the current condition of a commercial property, providing detailed information about the property systems and components. This assessment is typically used for multi-family properties such as apartment complexes, condominiums, and other housing communities. Like the PCA, our PNA meets or exceeds the ASTM E2018 standard. It includes a review of obtained property documents and information, a detailed assessment of the property systems and components, and a short-term and long-term cost analysis. The final report will be submitted within seven to ten business days after the date of the site visit.

Physical Needs Assessments Indianapolis

The following systems and components are included in the PNA:

  • Interior and exterior components
  • Roof
  • Structure
  • Mechanical, electrical, and plumbing systems
  • Fire and life safety systems
  • ADA Tier I Survey
  • Parking area and drives
  • Any other structures and components on the property

Streamlined Property Condition Assessments

In certain circumstances, a short due diligence period does not allow for a traditional PCA to be conducted and an abbreviated, or Streamlined PCA, is needed. A Streamlined PCA follows the ASTM E2018 standard and includes the same characteristics of a full PCA; however, the Streamlined PCA does not provide the same level of detail. The intent of a Streamlined PCA is to provide an expedient assessment of the property systems and components in order to meet the needed time frame. The final report will be submitted within three to five business days after the date of the site visit.

The following systems and components are included in the streamlined PCA:

  • Interior and exterior components
  • Roof
  • Structure
  • Mechanical, electrical, and plumbing systems
  • Fire and life safety systems
  • ADA Tier I Survey
  • Parking area and drives

Capital Needs Assessments (CNA)

A Capital Needs Assessment looks at property assets and system needs for an extended evaluation period. This assessment also follows the ASTM standard for conducting a Property Condition Assessment. It provides a schedule for when major system replacements will be necessary, as well as estimated cost projections for the replacements. This study highlights the replacement costs for existing systems, and does not provide costs for system improvements. Knowing capital replacement costs allows financial planning for a determined evaluation period. Although a 20-year time frame is typically used for forecasting costs, shorter or longer periods can be used to suit a client’s specific needs.

Commercial Building Inspections (CBI)

A Commercial Building Inspection includes an onsite visit and provides a detailed evaluation of a commercial building’s physical condition based on the onsite visit. This inspection follows the ASTM E2018 standard for onsite visits. This option provides a simple solution for potential buyers and owners who are interested in knowing the current condition of the building only. The final report will be submitted within three to five business days after the date of the site visit.

Systems and components included in the CBI are:

  • Property site components
  • Building envelope
  • Structure
  • Roof systems
  • MEP systems

Capital Reserve Study

A Capital Reserve Study is a budgeting tool often used by home-owner associations, condominiums, and other communities who share common areas and capital expenditures. This identifies the current condition of property assets and systems, and projects when major repairs and replacements will be necessary. This study includes estimated cost projections for the repairs and replacements, allowing for the community to establish a plan to generate sufficient funds to cover the expenditure when it actually occurs. The evaluation time is typically a 20-year time frame for forecasting costs, however, shorter or longer periods can be used to suit a client’s specific needs.

Specific System Assessments

Specific System Assessments are similar to Property Condition Assessments (PCA), but are focused on a specific system rather than the entire commercial property. This service is customized to the needs of our clients. A Specific System Assessment report will identify the deficiencies of a particular system and will use pertinent information, including photographs, to highlight these areas.

Examples of specific system assessments include the following:

  • Structure
  • Electrical system
  • HVAC system
  • Plumbing and fixtures
  • Roof surface
  • Interior components
  • Exterior wall components
  • Walkways, driveways, and walls

When Trust and Experience Matter Most

Parthenon provides various commercial property assessments to fit the needs and time frames of our clients. Additionally, we offer construction consulting, environmental assessments, life safety consulting, and more. All of our building inspectors follow the onsite assessment standards of the ASTM E2018 and are equipped to perform Property Condition Assessments of all types. Call us at (877) 218-1010 to schedule your assessment now, or request more information. We serve Indiana, the entire Midwest, and beyond.