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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