Pad site

A pad site or outparcel is a freestanding parcel of commercial real estate located in the front of a larger shopping center or strip mall.[1] Desirable because of their visibility to consumers, accessibility, and the ease of facilitating drive-thru service, pad sites are typically sought after by banks, casual dining, and fast food restaurants. Pad sites usually range between 2,000 and 75,000 square feet (190 and 6,970 m²). They can be ground leased by developers or purchased outright. The former offers a lower up-front cost, but the user is unable to use the land as collateral to finance building expenses because pad sites do not have their own legal address. The latter requires a larger capital investment, but provides the user an appreciable asset in real estate.

References

Jack W. Plunkett (2007). Plunkett's Real Estate and Construction Industry Almanac 2007: Real Estate and Construction Industry Market Research, Statistics, Trends and Leading Companies. Plunkett Research, Ltd. ISBN 978-1-59392-413-3.

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[Plunkett2007-1] Jack W. Plunkett (2007). Plunkett's Real Estate and Construction Industry Almanac 2007: Real Estate and Construction Industry Market Research, Statistics, Trends and Leading Companies. Plunkett Research, Ltd. ISBN 978-1-59392-413-3.