Property whose sale price is not high enough to recoup the costs of its improvements
Over-improvement
Land improvement that is more extensive than the surrounding neighborhood justifies or that can be economically warranted.
Overage
In leases for retail sales, amounts to be paid, based on gross sales, over the base rent. Alternately, a selling price received for property in excess of the expected price. An excessive amount; surplus.
Overage income
Rental based on a percent of sales or profit that is in addition to the constant rental amount.
Overall rate of return (oar)
Net operating income (NOI) of property relative to its market value, net operating income divided by the purchase price of the property. NOI compared to the initial cost of the property as distinguished from its market price.
Overbuilding
A situation in a given area where there has been more real estate construction than the market can absorb within a reasonable time.
Overburden
Earth that must be removed to reach a deposit of rock or other material to be quarried.
Overcoat
A finish coat of paint.
Overcurrent
Electrical current that exceeds the maximum limit of a circuit.
Overcurrent protection
A device that interrupts the flow of electricity when the current reaches a set level.
