Retail Property Appraisals

A thorough commercial real estate property appraisal requires analysis from several angles: 

1. Market Approach: A method that values an asset based on comparable sales of comparable properties
2. Cost Approach: A method that values a property based on the cost of building a similar property, minus depreciation, plus the site’s value. 
3. Income Approach: A method that bases the valuation on a property’s income; the net operating income of the rent divided by its cap rate.

WestRock’s valuation method relies on a comprehensive understanding of the relevant markets and utilizing these approaches appropriately. Each of our appraisal reports is meticulously prepared to fulfill your needs. Such fulfillment delivers on our promise of accuracy and credibility with several features, including: 

• Market 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 and 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.

When choosing WestRock, you are gaining an appraisal service with a team that possesses experience, education, capability, and integrity. We emphasize these qualities in our recruitment and training, ensuring that every appraisal report generated by a member of our team acts in your best interests. 

Take our founder and president, Steve Romer, for example. He has earned the coveted MAI designation, meaning he has invested a substantial amount of time and effort in his own training. He used this to garner extensive experience in the valuation of properties from commercial to residential real estate. MAI appraisers go above and beyond to develop their analytical skills, expand their knowledge, and ensure reliability in their reports. Steve has undergone this extensive education and training and instills its work ethic and values into every aspect of WestRock’s appraisal operations and team.