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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.). What type of commercial property (e.g., Want more resources for appraisers?

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How to Conduct the Most Effective Columbus, Ohio Property Search

The Robert Weiler Company

Once this is settled, you can hone in on areas in Columbus offering commercial property in your price range. Now that you’ve found an area that interests you and offers local properties in your price range, it’s time to learn as much as you can about that area. Tip 2: Inquire About Infrastructure. Central Ohio had over $5.8

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

The Robert Weiler Company

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. The cost approach also considers depreciation, thus, assuming a fair market value for the commercial property.