Pharmacies glossary

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Base Rent

The minimum amount that is due for payment to the landlord. The base rent is usually fixed and only escalated annually.


The point where the money invested in a real estate venture is earned back by sales. A business is said to have reached its break even when all the investment costs have recovered, and after this point, the venture will start making profits.


Community Centre

A whole array of different stores offering services and goods ranging from clothes to pharmaceuticals, foods, and more. Such community centres usually have more than one pharmacy store.

Cost Approach

A procedure in which the market value of a property is determined by calculating the cost of building a new property which would be exactly like the one in question.


Calculated information on the human population of a certain area, which gives insight to the density of population, growth rates, their socio-economic conditions, and other important factors.


An alternative name for pharmacies, drugstores are pharmaceutical stores that provide medication based upon prescription.

Freestanding Building

A building that consists of only one business, and not a chain of stores with common walls or multiple stores under one roof.

Neighbourhood Centre

A shopping centre smaller than a mall but larger than a single shop, which consists of multiple stores. These centres usually have all shops that a person needs to go to on a frequent bases, such as grocery marts, pharmacy stores, stationery and more.

Personal Property

Any elements of a property which are not real property, such as furniture, machinery, equipment is called personal property.

Power of Sale

The power that is given to the individual lending mortgage, to auction the property for sale if the loan payments are not done in time.

Prime Space

A space that is fresh in the market and has never been occupied by a tenant before, thus causing a higher demand amongst tenants.

Property Management

A set of services that involve maintaining a property, managing its everyday operations, and checking upon its safety all come under property management.

Raw Land

A piece of land in its natural state, where no improvements or construction has been done.

Renewal Option

A clause that permits the tenant to renew the lease agreement for a pre-decided period of time, for a certain percentage of hike in the rent amount.

Site Feasibility

An analysis that shows whether the site in question is feasible physically and practically for usage.

Super Regional Centre

A regional centre which is larger in size and has multiple stores that provide similar basic services and products such as multiple salons, grocery stores, and pharmacies.

Tenancy at Will

An agreement which states the usage of assets and land space only at the will of the landlord.

Usable Square Footage

The total area that is contained within the walls, which is likely to be used as compared to outer spaces.


The return on an investment, which is represented as the percentage of the total invested amount. Yield refers to the effective annual amount of income that is being accrued on an investment.
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