Where can I find the value of a commercial property?

asked 2012-04-16 13:13:24 -0500

susanball
11 ●1 ●2

Are there any sites like Zillow.com for commercial real estate where I can get an approximate value of a property?

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answered 2012-04-30 13:34:06 -0500

SacramentoCommercial
208 ●1 ●4 ●15

There is no nationwide commercial site that has an automatic valuation method (AVM). I would recommend checking with a local broker to help find the valuation of a property. You can also check with the assessor to find the assessed value of the property, but keep in mind the assessed value is not equal to the market value.

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answered 2012-05-14 06:44:34 -0500

LancasterCommercial

86 ●6 http://www.lancastercomme...

Agree with Sacramento and add that another method is to purchase a commercial appraisal.

When talking to brokers, you can ask one for a quick read on the value (which often can be quite good) or you can request, for a fee, a more formal written Broker's Opinion of Value (BOV). Many times banks will hire brokers to do a BOV after they have taken a property back at foreclosure and are preparing it for liquidation.

John Thiry, CCIM lancastercommercial.com