Expert Commercial Property Appraisal Services

Commercial Property Appraisal Types

From retail shopping centers to apartments, to special use properties such as churches, we have the extensive experience appraising various commercial real estate properties.

Industrial Building Appraisals

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. Construction quality varies from metal buildings to concrete tilt-up. West Valuation has provided appraisals on numerous types of industrial buildings throughout San Diego and Southern California.

Examples of Industrial appraisals completed include warehouses, distribution facilities, manufacturing, flex buildings, refrigerated and cold storage, food processing, R&D research and development, lumber yard, contractor storage yards, and industrial condominiums.

Office Building Appraisals

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. West Valuation specializes in office building appraisals including multi-tenant professional buildings, medical and dental buildings, office condominium, corporate and institutional and high tech research and development (R&D) office buildings. West Valuation has provided commercial appraisals on numerous types of office buildings throughout San Diego and Southern California.

Examples of office appraisals completed include medical and dental office buildings, office condominiums, business parks and high rise office buildings.

Retail Building Appraisals

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. Triple net lease (NNN) is the most common type of lease for retail buildings which requires the tenant to pay all operating expenses, including a pro-rata share of common area expenses. The landlord is typically responsible for management and replacement reserves however, in some cases; the leases allow management to be charged to tenants as part of the common area expenses. West Valuation provides commercial appraisals on numerous types of retail buildings throughout San Diego and Southern California.

Examples of retail appraisals completed include retail shopping centers, NNN net leased buildings, restaurants (fast food and casual dine-in), auto repair, day care, big box retail, pad buildings, drug stores, street front retail, breweries, and banks.

Apartment Appraisals by West Valuation

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. Modified gross (MG) lease is the most common type of lease with the tenants responsible for interior maintenance and some utilities. Apartment vacancy rates tend to be lower than many other property types. West Valuation has provided various apartment appraisals throughout San Diego and Southern California.

Examples of apartment appraisals include 5+ unit multifamily properties with ADUs (accessory dwelling units), garden style apartments, mixed use commercial/residential buildings, and mid-rise apartment buildings.

Commercial Property Appraisal Types

Industrial Building Appraisals

Office Building Appraisals

Retail Building Appraisals

Apartment Appraisals by West Valuation

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