Description
Appraise commercial real estate and estimate market value for financing, investment, and reporting purposes. Inspect properties, analyze leases and income, research market data, and prepare USPAP-compliant reports using income, sales, and cost approaches.
- • Develop and reconcile value conclusions for commercial properties using income, sales, and cost approaches.
- • Prepare USPAP- and FIRREA-compliant narrative and restricted appraisal reports with clearly stated assumptions and methodologies.
- • Inspect commercial buildings, sites, and new construction to assess condition, quality, and functional utility.
- • Analyze rent rolls, leases, reimbursements, vacancy, and operating statements to derive NOI.
- • Research and verify comparable sales, leases, and listings through public records and market contacts.
- • Derive and support capitalization rates and discount rates from market evidence.
- • Perform discounted cash flow analyses using ARGUS or spreadsheet models when appropriate.
- • Conduct highest and best use analyses for land and improved properties.
- • Evaluate neighborhood, corridor, and submarket trends that influence current and future values.
- • Review zoning, land use entitlements, setbacks, FAR, and building codes for valuation impacts.
- • Verify ownership, legal descriptions, easements, and encumbrances with deeds, plats, and title reports.
- • Measure buildings and areas (e.g., BOMA) and prepare site sketches and floor area summaries.
- • Estimate land value and replacement cost new and apply depreciation and obsolescence.
- • Photograph interiors, exteriors, and surroundings to document property condition and support conclusions.
- • Interview brokers, owners, property managers, and local officials to obtain market intelligence.
- • Maintain property files and databases with maps, photos, leases, sale data, and market research.
- • Analyze property tax assessments and expenses and model pass-throughs under lease structures.
- • Adjust comparable data for market conditions, location, size, age, and other relevant factors.
- • Prepare engagement letters, define scope of work, and manage project timelines and deliverables.
- • Present and defend appraisal conclusions to clients, reviewers, auditors, and in mediation or litigation.
- • Perform portfolio reviews and periodic updates of prior valuations.
- • Monitor and report on trends in sales prices, construction costs, rents, and capitalization metrics.
- • Assess site access, parking ratios, exposure, and proximity to transportation and amenities.
- • Identify and evaluate environmental, floodplain, or physical issues that may affect value.
- • Collaborate with lenders, attorneys, accountants, and consultants to obtain and verify information.
- • Ensure workfile documentation supports analyses and conclusions and meets regulatory standards.
- • Comply with confidentiality, ethics, and competency requirements under USPAP and client policies.
- • Cross-check recorded transfers for accuracy of terms, consideration, and conditions of sale.
- • Provide valuation services for financing, acquisition, disposition, estate, and financial reporting needs.
- • Testify as an expert witness regarding commercial property values when required.
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O*NET occupational data (work activities, skills, knowledge).
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Last reviewed: Jan 2026
