If you are going to sell or buy a commercial premises, you should know that a correct appraisal is crucial for both sellers and buyers.
However, it is not always easy given the great differences that this type of real estate asset can offer and because in many cases its value depends on the value of the income that it is capable of generating.
So how do you determine the real value of a commercial property? In this article, we will cover the valuation process, who should carry out the valuation and the key aspects to consider when valuing a commercial property.
To value the premises, the first step is the physical inspection of the premises by the appraiser technician.
This visit is decisive since you will observe first-hand and evaluate the general condition of the building, including its surface, distribution, condition, and possible repairs or improvements necessary to, for example, put it on the market.
As we have mentioned, you must bear in mind that in the world of commercial premises the casuistry is very diverse, the premises may be adapted to a specific type of activity, it may be inside a shopping center or it may be raw.
All these aspects have a great influence on the market value of the same, since they will suppose extra costs for the buyer. Therefore this is a critical point, since the physical state of the premises has a direct impact on its value.