Real estate appraisals are not only reserved for residential buildings. Commercial real estate estimators provide insight into the value of a commercial property to help inform major decisions, such as taking out a business loan or selling a site.
What Commercial Real Estate Estimators do
Commercial real estate estimators are qualified appraisers who research a property to determine how much it might be worth. They are frequently used by property owners, lenders, investors and real estate professionals.
Commercial appraisers, who are typically state-licensed, conduct inspections and analyze relevant information to create a report that details an accurate value of a piece of commercial property.
These professionals must adhere to strict guidelines of ethical and performance standards. They are qualified to work with all types of commercial properties, including:
- Office buildings
- Shopping centers
- Apartment buildings
- Industrial sites
- Vacant land
Why you might need a Commercial Appraisal
Many different types of properties may require a commercial appraisal for many different reasons. Commercial real estate estimators are most commonly hired when a business is seeking a new loan. But, they may also be used in situations like these:
- To determine an acceptable buying or selling price
- To support lease negotiations
- In order to set or appeal tax assessments
- Corporate mergers
- Stock issues
- Liquidating a business
- Assessing property damage
- Determining gift or inheritance taxes
- Construction or renovation
How a Commercial Appraisal Works
Commercial real estate estimators use professional tools and methods to estimate value. They will inspect the property to determine its quality and condition while weighing factors like the property’s demand, utility, scarcity and transferability.
Since no two properties are ever exactly alike, it’s important not to compare nearby valuations and know the current worth of your assets. For more than 25 years, KTR Real Estate Advisors has provided expert commercial valuation and consulting services in New York City and national markets. We serve a diverse range of clients, including domestic and foreign banks, major corporations and law firms. Contact us today to learn why we are the commercial appraisers you can count on.
