Valuation of Your Property: What is the Value a Commercial Building?

When selling or buying commercial offices, the question of their real value always arises. In order to attract more potential buyers without losing much money, it is important to estimate its properties in a consistent and objective manner.

What criteria should we rely on to calculate the selling price of a commercial building at the fair? How do real estate professionals value commercial buildings?

Which criteria to assess its property?

Calculating the selling price of an office or commercial property must take into account various criteria relating not only to the property itself, but also to external elements that we are about to cover.

The geographical location of the office

Element essential for the estimation of the value of the property, the location is always involved in different ways in the calculation.

The first information to know for an accurate estimate when selling per square meter is the city/location in which the offices are located.

Warning: this can vary from one neighborhood to another. It is therefore to be particularly accurate in this research.

Proximity to public transport and ease of access are also important criteria to assess your property. They work especially in sectors dedicated to attract customers: commercial premises located close to other shops and within walking distance of a bus or subway will cost more than the same type of property in an isolated rural areas. Major Valuations

The overall condition of your office

In addition to the geographical location of offices or premises, the condition of the property is also one of the main factors to start with an accurate selling price. Office renovation costs less than to buy new offices. As an example, a property renovation costs 10-30% less than buying new while a good revamp sees its price fall by 5 to 10%. Conversely, refurbished offices will be sold from 15 to 20% more expensive than the average price per square meter in the area.

The benefits of having your office

In the real estate industry, there are criteria for estimating the property value taking into account the convenience of use. Indeed, offices on the second floor or higher with elevator resell more than the same type of property placed on the 1st floor on a busy street, due to the noise generated throughout the day.

Similarly, the presence of a park or a large storage space can be an interesting added value for one or more offices in downtown store. Do not forget when estimating the property.

The potential of your future offices

To set on the selling price of offices, it is important to know how to evaluate its potential. If the total surface is divisible and can be expanded in the future, it is an asset that you should use to estimate your property.

The possibility of a change of destination is an additional criterion to increase the final sale price. Indeed, the business opportunities are then multiplied, and the buyer can modify its activity if desired.

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sean93j

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