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The Four Tests of Highest and Best Use

McKissock

Some questions to answer: How would the build or improvements compare to other local properties? For example, extensive upgrades could over-improve a property to the point that it is over-priced for the market.). Some questions to answer: Do you have a market analysis or a feasibility study?

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Anatomy of a Commercial Real Estate Appraisal: A Top 17 Q&A Guide

The Robert Weiler Company

Some go one step further and fulfill strenuous education and experience requirements to become designated members of the Appraisal Institute. Below we’ve outlined the most common commercial property appraisal methods. Cost approach : Essentially, this technique equates the property value to the cost of constructing a replica.