Yes, this is the current solution. I am a bit dissatisfied that it is not a "uniform" address scheme. It would be nice if an app can guide you to the exact store on the exact floor based on one location code.
Floors can be weird; I’m not sure how you’d handle a hotel skipping the 13th floor, for instance. Also, are floors 0 indexes or 1 indexed? It therefore probably shouldn’t be built into the protocol.
Or it should be built into the protocol and specify a specific ruleset -- if a country/building follows another, it's up to the user to translate.
In some places it can be -1 or 2 indexed so that a building can have more floors than legally specified.
Also some buildings could have been added to after building and a basement turned into a living area, so -1.