Frequently Asked Questions

Why do you give me a range and not an exact value?

We use industry-accepted property valuation methods, usually giving weight to the the income and sales comparison approaches to value. With newer or specialized properties, we may additionally rely on the cost approach, which also incorporates land value. We consider both current market conditions and various value factors to determine the fair market value. The fair market value is the price a buyer is willing to pay on the open market. While our methodology is more of an art than a science, certain factors may positively or negatively affect the property. For a more precise number, or to discuss your property in greater detail, contact us to schedule a consultation with a broker and we will work with you to analyze these additional factors before offering a Broker’s Opinion of Value (BOV).

What is a BOV?

Commonly, a Broker Opinion of Value (BOV) is the first step towards planning your strategic exit. After the BOV is complete, you’ll have a range of your property's worth, ideally supported by the income and sales comparison approaches to value. The BOV cannot be relied upon as an appraisal for lending or legal purposes, however is an important step to help the owner and broker best strategize on the marketing plan based on your goals.

Where do you get the market data?

Industry data for valuing a commercial property comes from several sources:

• Comparable Sales: Data on recent sales of similar properties in the area provides insights into current market trends and property values.
• Public Records: Information from county assessor records, property tax records, and other public documents provides historical data on property values and transactions.
• Industry Databases: Access to specialized commercial real estate databases, such as CoStar, LoopNet, and other MLS services, helps gather comprehensive data on listings, sales, and leases.
• Economic Indicators: Broader economic factors, such as interest rates, employment rates, and regional economic growth, also influence commercial property values.

By combining these various sources, we ensure a thorough and accurate valuation of your commercial property.

Do you offer property auctions?

YES!  Our professionals at Peaks Commercial Real Estate are well-versed in commercial property auctions. There are several considerations to make when utilizing this as a marketing strategy, and a deeper understanding of your goals and property must be thoroughly considered before offering a property at auction.  Schedule a call to learn more about the property auction process, where you can close and fund within 90 days.