Home Selling in 10456>Question Details

Jackie Hill, Home Buyer in New York, NY

How much is my commerical property worth?

Asked by Jackie Hill, New York, NY Fri Nov 30, 2012

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9
Hello,

There are a lot of things that have to deal with the price of a commercial property, I will be happy to go over some important details with you just give me a call when you have some time.





Sincerely, 
Antonio Sanchez
Exit Realty Search
Licensed Real Estate Salesperson
3928 E. Tremont Avenue
CELL: 347-320-0673
FAX:    347-202-4966

SANCHEZEANTONIO@GMAIL.COM

http://WWW.EXITREALTYSEARCH.COM


http://www.exitrealtysearch.com/agents/99-Antonio-Sanchez/
0 votes Thank Flag Link Sat Jan 5, 2013
Hi Jackie,
You need a Local Commercial Broker to evaluate your property.
0 votes Thank Flag Link Sat Dec 1, 2012
To determine what the property is worth there are a few things that I would need to know. What is the exact square footage of the property, and what is the use? I would like to come out and view the property and do a free assestment. This way I can give you a more direct answer. I do not determine what your property is woth. Honestly the market does. I loom forward to hearing from you so that we can discuss further.
Bruce McIntyre
0 votes Thank Flag Link Fri Nov 30, 2012
There are three types of appraisals that can be done, but only one by a Realtor.

The highest appraisal will be given if it is for a refinancing of the property.
The lowest appraisal will be given if it is for taking out a mortgage on the property.

A Realtor can give you a current market evaluation based upon the comparison of your property to very recent sales in the immediate area.

A Realtor's market analysis is free of charge, but much more information is needed.

Want to know what your property is worth? What is the address? What is the interior square footage? Is it a multi-use property, storefront, office building? Is it rented? Who are the tenants, how long are the leases, how much rent are they paying, what are the yearly escalations on the rent, are the leases single, double or triple net leases?

There are more questions that would be asked. I hope this provides you with some understanding of what is involved.

Gail@GladstoneGroupRealty.com
0 votes Thank Flag Link Fri Nov 30, 2012
Jackie,

You can get a bank appraisal done at cost to you or get a Realtor to give you a Free Market Analysis for your market area. This will give you some piece of mind and you can know more or less what your property is worth in this market. Not only hire a Realtor commercial properties are a different sale than residential homes, more detailed.

Best of Luck.

Millie Valentin
EXIT REALTY SEARCH
3928 E. Tremont Avenue
Bronx, NY 10465
0 votes Thank Flag Link Fri Nov 30, 2012
Mrs. Jackie Hill

We would need more information and conduct a appraisal.
0 votes Thank Flag Link Fri Nov 30, 2012
Without much information, it depends....genrally properties are worth what someone is willing to pay, and what the seller is willing to accept based on market current conditions...therefore consider consulting with a few local agents from different realty companies, or consider hiring a professional appraiser...
0 votes Thank Flag Link Fri Nov 30, 2012
Where is it? Kind of hard to make an assessment without little details like that.
0 votes Thank Flag Link Fri Nov 30, 2012
3365 Third Ave, BX NY 10456 - 3 story commerical bldg
3363 " - Parking Lot
Flag Fri Nov 30, 2012
It Depends:
What business is going to occupy the space?
Is it a High-End Art studio and Showroom selling $100,000 paintings,
or a beginner restaurant that will probably go defunct in six months?

It will certainly be worth differing amounts to each.

A critical reason why you should enlist a Commercial Realtor.
0 votes Thank Flag Link Fri Nov 30, 2012
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