Commercial Appraisal Services

Commercial appraisal assignments are developed for the property and assignment at hand. The analysis considers the intended use and intended users, property rights appraised, definition of value, effective date, relevant market data, and an appropriate scope of work. The reporting format and level of detail are established as part of the assignment.

Assignments may involve retail, industrial, office, multifamily, mixed-use, land, and other commercial property types within the appraiser's competency.

A market rent study develops an opinion of market rent using the information relevant to the assignment. Depending on the property and intended use, the analysis may consider comparable leases, asking rents, lease structure, concessions, expense responsibilities, tenant improvement allowances, lease term, options, and current market conditions. It is a valuation analysis, not legal or lease-administration advice.

Highest and best use analysis tests potential uses for legal permissibility, physical possibility, financial feasibility, and maximum productivity. When appropriate, the analysis considers the property both as though vacant and as improved.

The analysis is an appraisal conclusion based on the assignment evidence. It is not a zoning, legal, architectural, or engineering opinion, and it does not guarantee entitlement or project approval.

A Restricted Appraisal Report may be suitable when the client is the only intended user, subject to the assignment requirements and applicable professional standards. It communicates less detail than an Appraisal Report, but the appraisal must still be supported by the analysis and documentation retained in the appraiser's workfile.

This format is not appropriate for every intended use, and a lender or other third party may not accept it. The intended use, intended users, client requirements, scope of work, and appropriate reporting format should be discussed before the assignment is established.