Cubic Foot Factor Method
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic contents of a building by multiplying the building area from the outside of the exterior walls times the height of the building. This is used by appraisers to estimate the reproduction costs of a building, For example, if the average cubic foot cost of a certain building type is $20, and the total cubic contents of the building are 5000 cubic feet, then the estimated reproduction cost of the building is $20*5000= $100,000.
Popular Real Estate Terms
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Linear measurement of property abutting a road or water body acting as a boundary market. ...
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Price at which the seller and the buyer agree to trade real estate on the open market. ...
fee to use a bridge or tunnel. Fee assessed to use someone else's property. ...
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