What Is My Commercial Property Worth ?

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What Is My Commercial Property Worth ?


Apartment Listing  

If you are wondering what is your commercial property worth, an honest answer to this would be that the property’s worth is what the buyer is willing to pay. However, the market does not work in such a simple fashion. There are several hundreds of ways to calculate the worth of commercial property and several factors go into deciding its worth actually.

Let us look at some of the methods in which the value of the commercial property is calculated.

The first step is to measure the land in square meters. The market value per square meter is determined depending on the area. The size of the land is then multiplied with the value per square meter in that area. This gives a rough outline of how much the commercial property is worth in that area in actual terms. Also, as the size of the land increases, the price for every square meter can decrease. There are other factors that will influence the price while negotiating like proximity to airports, train stations, and other similar locations. Also, there is a novelty value affects the price of a commercial property. Obviously older building will cost less than newer ones. Other improvements like inside furnishings, condition of the building and the general size like height, width will all be taken into count while determining the price.

The other method is determining the rent value of the property. The higher the property earns, the more the buyer will be willing to pay. However, this is not always the best way to buy or sell commercial property. To determine the price in this manner, the property rental value is compared to similar properties in the area. This method will also take into consideration the tenant agreements.

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What Is My Commercial Property Worth ?