From tacos to fish: the owner needed a small-business loan.
Neighborhood retail appraisals require analysis of visibility, access, traffic count, parking, and nearby draws, such as a high school, a sports complex, fast food, or grocery. Sale prices of comparable properties must be adjusted for these influences. The dental office or vet near a school usually will appraise higher than the one in the quiet neighborhood.
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 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?