Front feet is a term that refers to the length of a property’s boundary that is parallel to the street. It is also called frontage or road frontage. Front feet is an important factor in determining the value and potential uses of a property, especially for commercial properties. Properties with more front feet are usually more desirable and valuable, because they have more visibility, accessibility, and flexibility. For example, a property with 100 feet of frontage can have more space for signage, parking, or entrances than a property with 50 feet of frontage. Front feet is also used to price properties based on the cost per front foot, which is the selling price divided by the front footage. This method provides a consistent and transparent way to compare and evaluate different properties. For example, a property with 100 feet of frontage and a selling price of $25,000 has a cost per front foot of $250.
Basic Theory:
Front Feet is a straightforward measurement that represents the linear distance of the front boundary of a property, typically parallel to the street. It is commonly used in real estate to assess the size and value of land. The formula for calculating Front Feet is:
Front Feet = Total Frontage Measurement / Number of Lots
Procedures:
- Open Excel: Open a new Excel spreadsheet.
- Data Entry: Enter the relevant data in two columns – one for the total frontage measurement and the other for the number of lots or properties.
- Formula Application: In a new column, apply the Front Feet formula mentioned above.
- Results Display: Use Excel functions to display the calculated Front Feet.
Explanation and Scenario:
Let’s consider a scenario where you have a property with a total frontage measurement of 150 feet and it consists of three lots.
| Total Frontage (feet) | Number of Lots |
|---|---|
| 150 | 3 |
Apply the Front Feet formula:
Front Feet = Total Frontage / Number of Lots
Results Display:
| Total Frontage (feet) | Number of Lots | Front Feet |
|---|---|---|
| 150 | 3 | 50 |
Calculation Result:
In this scenario, the calculated Front Feet for each lot is 50 feet.
Alternative Approaches:
- Manual Calculation: You can manually calculate Front Feet by dividing the total frontage by the number of lots.
- Using Averaging Functions: Excel offers averaging functions like AVERAGE, which can be used to calculate Front Feet.
- Graphical Representation: Utilize charts or graphs to visually represent the Front Feet calculation for better analysis.
