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
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.
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
Asked: 2012-04-16 13:13:24 -0500
Seen: 51 times
Last updated: May 14 '12