Exam 3: Site Selection

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What are some of the resources to find future development plans for a given geographic area?

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■ chambers of commerce
■ business improvement districts
■ town halls
■ newspapers
■ commercial real estate agents and developers

What is a triple-net lease?

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A triple-net lease is one that requires the tenant to pay
a.rent.
b.real estate taxes.
c.leasehold improvements/repairs.

Define demographic data.

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Demographic data is information used to determine the viability of a specific business in a specific area.The data would include such infor- mation as size of the population, age, income, male-to-female ratio, careers, and the like.This data can help a business focus on the patrons who will probably be the core customers for that business.

What is meant by the term "turnkey" operation?

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Explain a zoning law.

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List five factors that should be considered when evaluating a site.

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Define "right of first refusal."

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