What we need for a commercial appraisal

For every assignment

• Property address and the owner's name
• Why you need the appraisal (estate, financing, sale, tax appeal, partnership, donation) and who will rely on it
• The effective date: today, a date of death, or a date of gift or donation
• A contact for the property inspection

Income-producing property

• Current rent roll with unit or suite, tenant, rent, lease dates and who pays utilities
• Copies of commercial leases and any amendments
• Two to three years of operating statements, plus the current year to date
• Real estate tax bill and insurance cost
• List of recent capital improvements and planned repairs

Owner-occupied property

• Building size, floor plans or a sketch
• Recent improvements
• Any survey, site plan or environmental reports

Estates and gifts

• Date of death or date of gift
• Contact information for the executor, attorney or CPA
• Whether the estate owns the whole property or a partial interest
• Leases and rent rolls as of the effective date, if available

Proposed construction

• Plans and specifications
• Construction budget and timeline
• Projected rents or a pro forma
• Approvals and permits

How the process works