Walter Duke + Partners:
Frequently Asked Questions

A commercial real estate appraisal is a professional opinion about the value of a commercial property. Appraisers develop this opinion by analyzing various factors, including the property’s location, physical condition, income potential, and comparable sales data.

There are many reasons to get a commercial appraisal, such as:

• Obtaining financing for a purchase or refinance
• Determining the value before a sale
• Estate planning or tax purposes
• Litigation support

Look for an appraiser with:

• Relevant certifications and designations
• Experience in appraising similar property types
• A good reputation in the industry
• Clear communication and transparency

Our appraisers are state certified and some hold the MAI and/or CCIM professional designations. and have extensive experience in appraising commercial real estate. We adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).

We are competent and experienced in the valuation of all types of commercial property ranging from small owner-occupied assets to complex billion-dollar developments.

Examples include:

• shopping centers
• office buildings
• multi-family apartments
• industrial properties of all kinds

as well as all types of land.

We have particular expertise and experience in the valuation of marinas and boatyards, educational facilities, triple net leased assets and LIHTC multi-family housing.

To learn more about our expertise, please click here.

The cost varies depending on the size and complexity of the property, the scope of the assignment, and the appraiser’s fees. Remember, quality is more important than cost when choosing a commercial appraiser and like anything in life; you get what you pay for.

Get quotes from several appraisers to compare prices.

We are also available to consult or assist your team on an hourly on on-going basis. Please contact us for more information about our rates.

The appraiser will likely need:

• Property address and legal description
• Rent roll and income/expense statements
• Site plans or building plans
• Any relevant leases or contracts

Our standard delivery for most assignments is 15 business days but can vary depending on our workload and the complexity of the assignment. Also, expedited delivery is available at a slight fee premium. Remember, most good commercial appraisers are always in high demand so even if the assignment you ordered only takes the appraiser a week to complete he/she may have to complete a number of assignments already in the queue.

A comprehensive report will typically include:

• Description of the property
• Analysis of the market and neighborhood
• Valuation approaches used
• Final opinion of value

No problem. The type of commercial appraisal can vary depending on the needs of the client and intended use of the appraisal. Commercial appraisals can vary from 10 to 20 pages to over 200 pages depending on the complexity and depth of the assignment. We can help you determine the proper scope of work prior to ordering the appraisal that will best fit your needs.

Federal appraisal policy dictates the banks must order third party reports including appraisals. Further, if the report is ordered by an individual, in most cases it cannot be used by a bank and a new appraisal will need to be ordered from another company.

Visit our credit underwriting page to learn more.

Not as a matter of standard practice. Our practice is focused on commercial properties only, but in certain instances we can provide single family residential appraisals. Examples would be single family residential rental portfolios or other portfolios where there may be a few single-family houses in conjunction with non-residential properties.

Our practice area is primarily focused on the Florida market, but in instances of portfolio or estate valuation and specialty practice areas such as marina consulting and triple net lease appraisals, we can provide valuation advisory outside of Florida.

Learn more about our estate planning services.

Walter Duke + Partners can assist your accounting and legal team with the valuation of marital assets and can handle the real estate and business components of the assets. We usually recommend that both sides stipulate to one expert to save time and money.

Absolutely, it is very common for use to be asked to either determine the market rent for vacant or owner space or to assist in the determination of the reasonableness of an existing in-place rent. We are also commonly asked to assist clients with their lease renewal.

Visit our lease renewal page to learn more.

It depends. You may need a special type of appraisal for tax purposes – consult with your tax advisor for recommendations.