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Glossary
Sales comparison approach
A way to determine market value by comparing a subject property to properties with the same or similar characteristics.
Sales comparison value
An estimate of value derived by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments to the sales prices of the comparable based on the elements of comparison. [Appraisal Institute]
Sales per square foot
Sales revenue generated per square foot of retail floor space.
Sales potential
The possible or expected revenue of a retail outlet as defined by conditions within the market or trade area and the forces of competition.
Sales price point of indifference
The future reversionary value (sales price) that would make the present cost of leasing mathematically equal to the present cost of owning a property.
Sales volume
The total amount of sales/revenue generated by a retail outlet or facility in a given time period.
Sample
A subset of a statistical population (typically selected randomly).
Sampling
The practice of obtaining a sample from a given statistical population.
Sandwich lease
See sublease.
Scale economies
Cost reductions, savings, or advantages that come about from efficiency gains associated with increasing levels of production output or the increased size of an operation or system (as the average cost of production falls with increasing output or size).
Secondary source data
Information obtained from second-party or archival sources.
Securitization
The phenomenon of indirectly investing in real estate markets in ways that minimize risk (for example, investments made collectively with pooled money or the use of investment packages/funds, such as mortgage backed securities sold on the secondary financial market) as opposed to direct investments where investors own property or hold mortgages; a long-term trend that has had significant impact on real estate values.