Commercial Property Appraisal Types

Industrial

Industrial buildings vary from warehouse to manufacturing to heavy industrial factories. These properties typically include a small improved office area or can also consist of a majority of the office area with a small warehouse which are commonly referred to as flex buildings. Industrial buildings can be freestanding or located within industrial business parks and can include numerous of grade level or truck high loading docks. [Read More]

Office

Office buildings are typically broken down into three classes of space (Class A, Class B and Class C) relating to three tiers of quality, location, amenities and services. The classification is a breakdown of space within a general market area, so what is a Class A space in one market might not be considered Class A in another. The design, construction, features, and location of a building may determine what tenants the property will attract and what other buildings it will compete with. [Read More]

Retail

Retail property types vary from individual freestanding retail stores to ancillary commercial business to regional shopping centers. Demand for retail space in a given market area is a function of the number of households and the amount of household income available for retail purchase. The demand for retail space can only grow as the market area population and household incomes grow. West Valuation specializes in appraising a wide variety of retail buildings including restaurants, drugstores, banks, auto-service businesses, anchor stores, big box stores, and department stores. [Read More]

Apartments

Apartments are broken down into classes (Class A, Class B, Class C and Class D) relating to tiers of quality, location and amenities. The classification is a breakdown of space within a general market area, so what is a Class A space in one market might not be considered Class A in another. Apartment property types include mid rise buildings, garden apartments, townhouses, and multi-unit apartments. Apartment leases are generally short term ranging from six months to one year and occasionally month-to-month. [Read More]