The Gross Lettable Area (GLA) Calculator serves as a valuable tool for real estate professionals and property managers to determine the rentable space within a building. It computes the GLA, which is a critical metric used in evaluating and pricing commercial or residential properties. This calculator assists in understanding the usable space available for rent, excluding areas that cannot be leased.
Formula of Gross Lettable Area Calculator
The formula utilized by the GLA Calculator is as follows:
GLA = Total Floor Area – Non-Lettable Areas
Where:
- GLA represents the Gross Lettable Area.
- Total Floor Area constitutes the combined area of all floors within a building, encompassing both rentable and non-rentable spaces.
- Non-Lettable Areas encompass sections of the building that are unsuitable for rent, such as common areas, hallways, stairwells, and mechanical rooms.
General Terms Table
| Term | Description |
|---|---|
| Gross Lettable Area (GLA) | Total leasable area within a property, excluding non-rentable sections. |
| Total Floor Area | Overall surface area of all floors within a building, encompassing both leasable and non-leasable spaces. |
| Non-Lettable Areas | Portions of the building unsuitable for lease or rent, such as hallways, common areas, and mechanical rooms. |
Example of Gross Lettable Area Calculator
Consider a commercial building with a total floor area of 5,000 square meters, of which 800 square meters are non-lettable areas. The Gross Lettable Area would be:
GLA = 5,000 m² – 800 m² = 4,200 m²
Most Common FAQs
The Gross Lettable Area refers to the total leasable space within a building, excluding areas unsuitable for rent.
Non-Lettable Areas typically encompass hallways, stairwells, mechanical rooms, and other sections not feasible for lease.
Yes, GLA is a crucial metric used by property appraisers and real estate professionals to assess rental potential and determine property value.