Commercial Bungalow Appraisals

WestRock’s appraisal reports rely on several approaches. WestRock’s appraisers analyze quantitative data from these combined appraisal methods: 

1. Market Approach: A method that values an asset based on comparable property sales. Also known as the sales comparison approach, it tracks recently completed sales of comparable properties to determine a property’s current market value.
2. Cost Approach: A method that values a property based on the replacement cost of constructing a similar property, minus depreciation, plus the site’s value. 
3. Income Cap Approach: A method that bases the valuation on a property’s income; the net operating income of the rent divided by its capitalization rate.

WestRock uses these methods to accurately appraise commercial and residential real estate properties using our extensive market knowledge and experience. Each of our commercial appraisals is meticulously prepared to ensure accuracy and credibility, including: 

• Area Analysis: Deduction of relevant market trends, demographic statistics, and economic indicators. 
• Zoning Analysis: An in-depth evaluation of the property’s compliance with relevant zoning standards. 

• Improvements Suggestions: Comprehensive descriptions, along with sketches and photographs, to detail a property’s optimized improvements. 

• Real Estate Taxes Statistics: This feature analyzes historical and current taxes to project accurate real estate taxes for the subject property. 

• Comparison Data: Detailed photos, descriptions, and analytics of comparative properties are provided for comparison. A sales comparison grid depicts all data and any necessary adjustments. 

• Income Analysis: Evaluation of historical data to determine a property’s projected income and its requisite expenses.  

• Complete itemization of all income sources. 

• Operating Expenses: We provide an operating expense history and anticipate your expenses based on our extensive collection of comparable expense data. 

Capitalization Rate Development: Commercial loan rate surveys provide a basis for capitalization rate development.

Experience, education, and capability are all crucial qualities in an appraisal service. WestRock knows the significance of these characteristics and emphasizes them in our recruitment and training. This ensures a detailed and accurate appraisal report from any member of our team, a strong advantage when making pivotal investment decisions. 

WestRock’s founder and president, Steve Romer, earned the MAI designation and has instilled the value it represents into every aspect of WestRock’s appraisal process. The MAI designation is held only by appraisers who have invested time and effort into their own training to cultivate extensive experience in the valuation of properties. MAI appraisers go above and beyond to perform quality appraisals used to advise clients on sound real estate investment decisions. Such dedication guarantees residential and commercial valuations you can rely on.