Recent Industrial Appraisal- Denver, CO
Recent appraisal of a small industrial property.
The property is located in the South Platte neighborhood of central Denver.
The property has a large amount of land relative to building size.
Appraisals of very small buildings with large amounts of land can be very challenging for most appraisers since the typical “Price per square foot” metrics can get easily distorted. Typically in these cases, the price per square foot tends to be very high since it includes additional land area.
In this situation, we did a land-only and cost approach analysis to further support the valuation. The sales comparison approach required very large land adjustments to the comparable sales. The adjustments were supported by regression analyses as well as the base land value.
We have recently completed a number of industrial and commercial property appraisals in this part of Denver.