In commercial real estate, vacancy is often discussed in simple terms—an unoccupied unit, a missed lease, a temporary gap in revenue. Yet in practice, an empty space is not a neutral condition. It is an active cost center that compounds quietly over time, influencing not only cash flow but also asset perception, leasing velocity, and long-term valuation. Within APLIS’ Market & Investment Intelligence lens, vacancy is understood as more than lost rent. It is a multi-layered fi