Enhance Your Commercial Real Estate Analytics with Richly Attributed Building Footprint Data
Building footprint data offers value to commercial real estate analysis by compensating for the inherent weaknesses resulting from relying exclusively on address information.
Why Building Footprint Data?
Location analysis is indispensable in identifying and supporting business decisions. To understand any potential investment, you first must understand the physical location and attributes of a property. Historically, most commercial real estate businesses have relied on addresses to identify commercial properties. However, our internal estimates claim that between 35% and 40% of all addresses are inaccurate.
What Makes Our Data Superior?
In comparison, building footprint data offers:
- Greatly enhanced address accuracy
- Developers the ability to tie addresses to unique building footprints, greatly reducing the chance of errors in a listings system
- Location attributes, like ground elevation and estimated daytime population
- Building attributes, such as the year of construction, square footage, and height
What are Building Footprints?
A building footprint is the digital polygon that represents the actual space that a building encompasses.
An enriched version of footprint data includes a comprehensive list of all addresses associated with a building, in addition to other attributes of the physical structure, and data points related to the type of activity occurring in the building.
Why Aren’t Addresses Good Enough on their Own?
One of the fundamental problems with addresses in commercial real estate is that they are often entered incorrectly into a CRE listings platform. The growing trend of crowd-sourcing CRE data can also contribute to inaccuracies, and lead to a possible overlap in property listings. At best, a faulty address could lead to frustration and embarrassment for a CRE company. At worst, an incorrect address could lead to anything from multiple people working on the same property, to lawsuits over deals made using incorrect information.
How Does Building Footprint Data Solve for Address Limitations?
Perhaps the greatest advantage that building footprints offer the CRE community is the ability to work in conjunction with address information to provide a single source of truth for the location of properties. A listings input process that utilizes building footprints can reduce the number of address errors from the start by requiring users to choose a footprint, or series of footprints, when listing a property, instead of accepting an address as a means of property identification.
Building footprint data, in comparison to addresses, is also a more stable form of property identification. Whereas addresses are subject to change over time to comply with regulatory updates, building footprints only change when there is physical change in the building structure.
Other Benefits of Building Footprints to Commercial Real Estate
The ability to cross-check the accuracy of your listings system may be an important benefit of using building footprint data but it is certainly not the only benefit offered by our data. Some of the other advantages offered by our data are:
- Additional insight into development or redevelopment opportunities
- Assistance in identifying possible property encroachment
- Any number of other geospatial applications
Accuracy for Your Organization
BuildingFootprintUSA data offers commercial real estate developers several advantages that will allow them to make the most informed and profitable business decisions. These advantages include:
- Increased accuracy over parcel and address-centric data
- Key insights that cannot be found using traditional address and parcel data
- Prevention of listings systems errors such as double counting
These benefits combine to offer the commercial real estate industry a new level of accuracy that in turn allows for the generation of deeper insights into the strengths and weaknesses of potential properties. By enriching current listings systems with data from BuildingFootprintUSA your business can avoid problems with past systems and focus on what truly matters to your business.
About Our Data
BuildingFootprintUSA™ understands that every building is important to someone.
We have created one of the most geographically accurate and comprehensive data sets of building footprints for residential and commercial addresses in the United States.
U.S. Building Footprint Coverage
We started to build our proprietary database for the United States in 2015.
We built this database using more than 700 data sources, covering over 80% of the population of the United States. Every quarter we update our database using a variety of sources and techniques, including emerging technologies like artificial intelligence/computer vision.