Expert Insight Shared On Appraisal Process For Industrial And Warehouse Properties

Roseville, MN based Minnesota Real Estate Appraisal Services has reached out to the community in order to share important insight into the criteria used to value industrial properties as well as warehouses. The company's expertise is held in high regard among their clients, who continue to place their trust in the expert team whenever the need for a commercial real estate appraiser arises.

Appraising real estate properties is one of the most complicated and difficult tasks in the industry, as no two properties can be the same or share the same conditions. This causes a property's price to vary depending on several criteria that evaluate their utility, functionality, and versatility. This means that two similar properties located next to each other can have prices that vary greatly, making it hard for inexperienced personnel to judge value at first glance.

Clark Goset, a representative of Minnesota Real Estate Appraisal Services, states, "There are several rules of thumb that you can follow while valuing your office, industrial, or warehouse real estate but, ultimately, it will be the small details that only an expert can notice that will determine its value. Having your property expertly appraised before selling or buying is of the utmost importance, as there could be a significant discrepancy between the asking price and its actual value that could cost you a significant amount of money. Ultimately, it is in your best interests to hire an experienced commercial appraiser. As experienced Minnesota real estate appraisers, we can help you clear any doubts regarding the value of a property."

The company states that some of the criteria they follow while appraising the value of a property include looking at its cap rates, square footage, and other multipliers. These are the factors that will influence property value the most and, having weighed these, they can produce an approximate value that is ultimately based on the versatility of the property. The type of land and its location also plays a significant role, in addition to any easement issues that may currently be present. Other criteria include the ceiling heights, number of docks and drive-in doors, bay widths, and so on that describe the physical aspects of the property.

"While all of these criteria seem pretty straightforward, other things will play a role in determining the property's value, and this is when it will be the most valuable to have an industrial real estate appraiser aiding you with your valuation," states Goset. Factors that do not involve physical aspects of the property include its permitted issues and other potential impediments that may restrict its use in certain purposes, affecting its value greatly.

Only when all of these criteria are carefully scrutinized, and any potential issues identified, is it possible to accurately determine a property's value. With over 40 years of experience, the experts at Minnesota Real Estate Appraisal Services are now extremely proficient at valuing commercial properties. Some of the commercial properties that the company can appraise include buildings, manufacturing facilities, shopping malls, hotels, and more. They can produce the most accurate appraisal possible for these structures based on each property's specifications and the various criteria that may apply to a given situation. They stand by their expertise, saying that, if necessary, they can testify in court regarding a property's value.

This expertise is not limited to commercial properties, as the company also handles residential real estate appraisal ranging from smaller city properties to multi-million dollar properties in Minnesota. This is their most popular service, comprising about 30% of the company's annual project list. They have performed hundreds of residential appraisals in the greater Minnesota area, possessing indisputable expertise that are widely known and respected in the industry.

The company's website includes more information on their commercial and warehouse appraisals, including further details on their qualifications and the process used to evaluate properties. Furthermore, prospective clients are invited to reach out to Clark Goset to follow up on any further inquiries they may have.