PCA (Property Condition Assessment)

ASTM E2018 is the standard guide for PCAs in commercial real estate. A PCA typically covers structural systems, building envelope, MEP systems, fire protection, accessibility, and site improvements. The report includes a Replacement Reserve Table projecting capital costs over 10-12 years. PCAs are standard practice in property transactions, refinancing, and portfolio management. Immediate Needs are items requiring attention within 1 year; Short-Term needs within 2-5 years.

PCAs provide buyers, lenders, and investors with an objective assessment of a property's physical condition and future capital requirements. They identify hidden liabilities, inform purchase price negotiations, and establish maintenance baselines. Without a PCA, due diligence is incomplete.