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.{{cite book|author=Jack W. Plunkett|title=Plunkett's Real Estate and Construction Industry Almanac 2007: Real Estate and Construction Industry Market Research, Statistics, Trends and Leading Companies|url=https://books.google.com/books?id=oDOosCtgVbQC&dq=%22pad+site%22+real+estate&pg=PT22|year=2007|publisher=Plunkett Research, Ltd.|isbn=978-1-59392-413-3}} 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 ({{Convert|2000|and|75000|sqft|disp=output only}}). 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.