Google Answers Logo
View Question
 
Q: Estimated value of a commercial property ( No Answer,   2 Comments )
Question  
Subject: Estimated value of a commercial property
Category: Business and Money > Small Businesses
Asked by: tripartite-ga
List Price: $10.00
Posted: 29 Sep 2002 13:33 PDT
Expires: 29 Oct 2002 12:33 PST
Question ID: 70525
I am looking for a general "ballpark estimate" for the value of a
commercial property in Brooklyn, NY.  However, as this is not a
critical issue at the time, I don't wish to deal with the hassle of
dealing with an appraisal service/realtor.  Is there any online
resource that will give an estimated value
for this property or lot within a reasonable error range?
Answer  
There is no answer at this time.

Comments  
Subject: Re: Estimated value of a commercial property
From: robertskelton-ga on 29 Sep 2002 14:13 PDT
 
Try the New York City Dept. of Finance:
http://webapps.nyc.gov:8084/CICS/fin1/find001I
Subject: Re: Estimated value of a commercial property
From: beckyp-ga on 29 Sep 2002 15:07 PDT
 
When I worked in the real estate industry, we used to use a "cap rate"
of 8%, here in the Bay Area, to make an estimate.  In order to do
this, you need the annual gross income of the property.  (Annual gross
income X cap rate = estimated FMV).  Obviously, a very simple and not
exact method.

I did some checking and it looks like the cap rate has increased to
something closer to 8.7%.

The other poster gave you the real estate property tax site for NY. 
The value for real estate tax purposes is not the same for
buying/selling property.  However, the value could be close if a sale
just happened and the sales price/value is included in the property
tax assessment.

Here are a few sites that you can use to derive square foot rental
rates and cap rates for your location.

http://www.eloanmasters.com/s_capitalization_rate_defined.htm

http://www.ncreif.org/pdf/2q2002npi.pdf

http://www.reis.com/affiliate_program/affil_syn_metro_select.cfm?CFID=3296737&CFTOKEN=4010695-000c00e0-74fa-1d97-8f68-80da68740000

http://www.realtyrates.com/commentaryg.html

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy