Strip Mall CAM Reconciliation Guide for Landlords
Typical CAM pools, billing errors, gross-up mechanics, and BOMA standards for strip mall properties.
Benchmark CAM per SF
$2.50 – $6.00 / SF
Source: ICSC / IREM 2024
Gross-Up Applicability
Limited — strip malls have lower total CAM and fewer variable expenses. However, when a strip mall has high vacancy, remaining tenants may dispute paying for the entire parking lot and lighting.
Typical CAM Pools
- Parking lot maintenance
- Landscaping (basic)
- Lighting
- Insurance
- Property taxes
- Trash removal
- Snow/ice removal
- Management fees
Standard Exclusions
- Capital improvements
- Leasing commissions
- Roof replacement
- Structural repairs
Common Lease Structures
Common Billing Errors
- Including roof repairs as maintenance instead of capital
- Charging tenants for vacant-suite utilities (if landlord leaves lights on)
- Overstating management fees as a percentage of a small CAM pool
Relevant BOMA Standards
- ANSI/BOMA Z65.5 (Retail Buildings)
Strip Mall CAM Context
Strip malls are typically simpler CAM environments but disputes arise around deferred maintenance — landlords may attempt to pass through years of neglected parking lot or roof work as operating expenses rather than capital.
Industry Benchmarks
Source: Public REIT 10-K filings (FY 2025), BOMA EER (2025 edition). Data compiled March 2026.
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