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What is Your Whatcom or Skagit Commercial Property Worth?

May 22, 2023 by Jolene

what is your whatcom commercial property worth2 Are you looking for a Selling Valuation For Your Commercial Property?

When selling your commercial property, knowing how it compares to the market’s similar properties is essential. With the proper research, Josh and Jolene will tell you an estimate of what your commercial property is currently worth.

Complete the required information about your commercial property and receive an analysis of your property’s approximate value on the market today.

What’s your Bellingham / Whatcom – Skagit County /  Commercial Property Worth?

  • Information about the property you wish to sell:

  • This field is for validation purposes and should be left unchanged.

There are three ways to evaluate how much commercial property is worth – the income method, the sales comparison method, and the cost approach. Each of the three systems to value commercial real estate has distinct advantages and disadvantages. The ideal way for your commercial property’s value will depend on the property’s location and type. Listed are the three most commonly used forms of determining commercial property worth.

What is Your Whatcom County Commercial Property Worth?

INCOME APPROACH

The income method is the most commonly used approach to determining commercial real estate value. Using its capitalization rate (cap rate), a commercial real estate agent determines a commercial property’s cost based on its income potential using its capitalization rate (cap rate). The cap rate is a property’s income ratio to market value. Market value is established by analyzing like-kind commercial real estate in the area. After understanding the market, an investor estimates his property’s market value by dividing its annual income by the cap rate. As a result, if a property’s annual income is $30,000 and the cap rate is 10%, the property is valued at $300,000.

What is Your Whatcom County Commercial Property Worth?

SALES COMPARISON APPROACH

The simplest of the three methods, the sales comparison approach, compares similar nearby commercial properties. An investor gathers the sales prices o several comparable properties nearby and averages all the sales prices. Then, using the property’s square footage under review, the evaluating property’s price is adjusted up or down based on its square footage compared to other local properties. A savvy broker further adjusts the price. They will also consider various other factors, including a building’s upgrades, age, and deferred maintenance.

COST APPROACH

The cost approach requires a more complex analysis to determine an accurate commercial real estate valuation:

  1. One estimates the land value of a property.
  2. The broker determines the cost of building a duplicate of the current building and then adds the land’s value.
  3. The broker subtracts any depreciated value of the building based on age.

Typically, the newer property is, the more reliable the cost approach is as an accurate estimate of a property’s value.

 

Josh and Jolene Baijot - Commercial Real EstateHi! We’re Josh and  Jolene Baijot, the creators of this website. We’re also Commercial Real Estate Agents in Washington State. Thank you for taking the time to read this blog post. We appreciate your time spent on this site. You can connect with us on Facebook, Instagram, or contact us through this website.  

 

 

 

Whatcom County includes:

Bellingham
Birch Bay
Blaine
Custer
Deming
Everson
Ferndale
Glacier
Lynden
Nooksack
Sudden Valley
Sumas
 

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Read More About Selling Commercial Real Estate >

Filed Under: Selling Commercial Real Estate, Uncategorized Tagged With: Bellingham commercial real estate, Blaine commercial real estate, Commercial brokers, Commercial Property Value, Ferndale Commercial Real Estate, lynden comercial real estate, Property Value, Whatcom County commercial real estate

About Jolene

The buying and selling of real estate is a big decision that requires a strategic plan to realize the desired results. With over 20 years of real estate experience, Josh and Jolene has extensive knowledge of market trends, enabling them to offer guidance and solutions.

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Jolene Baijot

(360)820-4501
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