Appraisal Matters

Some jurisdictions require the petitioner in a tax appeal case to prove that a property is unfairly assessed in relation to other properties . We appraisers call this tax comparable analysis and it’s done on a price per square foot basis.
There are many problems with tax comps. It is not uncommon for one or [...]

[Read more →]

Too often, market participants rely on assessments as reflective of a commercial property’s market value. What could be easier than relying on the assessment as market value? The problem is too few market participants do not understand what is not included in the assessed value. Here are some of the most obvious and important omissions:

Assessments [...]

[Read more →]

Bar and restaurant appraisals are interesting assignments. Unless you are going for an SBA loan, the lender only wants to lend on the "bricks and sticks." They are not interested in the bar equipment (AKA FF&E), business value or good will. The hardest part of this type of assignment is how to [...]

[Read more →]

So often when we appraise properties where the business is tightly held with the real estate, it is very difficult to separate the business from the real estate. This is most common in restaurants, bars, marinas and hospitality properties. When a business is dependent on its real estate to function (an office could [...]

[Read more →]