What difference does it make whether there’s a catering kitchen or a fully equipped restaurant kitchen? Which is more important—a walk-in cooler, or a sizeable dance floor?
In some parts of the Metroplex there just aren’t enough affordable spaces for a micro-business like auto repair or decorative arts to get started. This investor knows where the potential tenants need space. He has the metal-building construction package all worked out. We analyzed supply and demand as well as land value.
The retiring sub-contractor had used this metal building with drafting offices and lots of extra storage for over 20 years of construction jobs. He wanted an appraisal to show the interested party with the business adjacent. All that road construction was bad for business in the moment, but what about afterward? How soon?
The extremely clean, efficient building was situated with great visibility and great auto-sale parking ratios. But in this case, being so close to Trinity Groves, what was the highest and best use? Was the land worth more for another purpose?
A 10,000 SF machine shop with tilt-wall construction and a new roof should be an easy appraisal—we thought. Low inventory and being in the path of intermodal growth made it a little more complicated. Demand and competition were analyzed.
The appraisal of this HEB Midcities commercial flex space included a building refurbished with state of the art training and media areas—but only partially. The owner got rid of the inefficient atrium and remediated the asbestos and lead. Cleaned up two floors “to the studs.” But two floors remained, and elevator replacement. Moser Appraisals provided an “as-is, retrospective” value opinion, for further financing. We accessed both commercial cost and sales data sources.
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