Actual Reports Represented Below

Large Land Tracts:

Our land valuations introduces and evaluates the sites usefulness and optimum use, including the analysis of the site’s ownership rights, mineral and riparian rights, zoning, private restrictions, boundary lines, easements, terrain, soil condition, flood hazards and more. Their value implications are illustrated and discussed. If timber or crop value is essential to understanding the underlying land value, this influence is valued. Our land evaluations include prospective subdivisions, recreational and waterfront property, office retail, and industrial land, forest land and agricultural land. Depicted above is 5,500 acres of old growth forest & recreational land. Purpose of the report, litigation.

Retail Stores: In the last two decades the demand for big box neighborhood retail stores has occurred throughout the United States. Market & valuation analysis includes the concepts of the market segmentation of demand and supply. Our retail appraisal reporting includes large & small stores, strip malls & pad stores. Depicted at the left is a 20,400 sf general retail store. Purpose of the report, financing.

Golf Courses: The evaluation and reporting of a golf course market value includes classification of the golf course type, understanding the industry trends, golf course markets and competition, the process of estimating the property value considering all appropriate techniques, and the contribution of non-realty assets.

Golf courses are part of the leisure and entertainment industry and represent an investment in real estate, personal property, inventory, personnel and intangibles. There are private country clubs, daily fee courses that are open to the public, subdivision courses, and municipal or publicly owned courses. Our reporting includes all of the aforementioned types.

For valuation purposes, a golf course or country club must be considered a business enterprise, not just an assemblage of physical assets. In most assignments value is based on an analysis of the sales revenues and operating expenses of various departments of the business, rather than capitalization of net rental income, which is typical in the appraisal of an investment property. Depicted in the picture above is a State Parks and Recreation golf course. Purpose of the report, to establish a purchase price.

Office Buildings: Valuing office buildings similar to the subjects pictured presents a distinct set of challenges to the appraiser. The valuation begins with an overview of the history of the office building and the characteristic attributes of the subject. Our report develops issues relating to site and site improvements and analyzes criteria regarding market conditions. Our report will discuss leases, forecast cash flows, identify direct capitalization, report and estimate rents, vacancies, and operating expenses. In short, an in-depth study is presented in the most appropriate approach to value, for the subject building. Additionally, the cost approach and the sales comparison approaches as they relate to the subject office building valuation will be considered and discussed in support of the income approach. The final reconciliation of value and support of each approach is considered and concluded meeting the appraisal industry standards.

The appraisal information presented and reconciled for the two office buildings depicted herein include the data, analyses, and value indications for general office space shown above and professional medical space shown at the right. It also included the information comprising the appraisal problem and the underlying analyses of the professional office market, the property’s location, and the property itself. The result of the reconciliation is a sound, defensible value opinion.

The Self-storage Market: is more volatile than many other sectors of investment properties. Appraisers must understand storage dynamics including month-to-month leasing, the impact of new supply, the reliance of external demand generators, and management expertise, in forecasting market demand and estimating market value. Our reports address directly the self storage industry and it’s many participants. Our report will lead you through the process of valuation and analysis step-by-step. Our report will provide a referenced market value and the new level of sophistication for this asset class allowing you to make more informed decisions.

Depicted in the picture left is a warehouse/office storage development. Purpose of the report, to facilitate a loan.

Hotels & Motels: As the lodging industry has always tried to distinguish between hotels, motels, and motor hotels, in recent years motels have become more like hotels with multi-story facilities, food, beverage & banquet facilities, efficient designs and small public areas.

In valuing a lodging facility our reports define the market area (supply) and represents the total travelers expected to use the facility (demand). We rely on the three approaches to estimate market value (cost, sales, & income) with the income approach generally given the greatest weight in valuing the subject. The components making up the total value of the property could be most easily identified as real estate; furniture, fixtures & equipment, or personal property; and the “going concern,” or entrepreneurial value. Because hotels require great management expertise, they tend to build up fairly substantial enhanced values over their actual cost of development. This going concern value is business, or entrepreneurial value, resulting from the efforts of the developers to bring it to stabilized operating levels after its construction. By allocating between the various components of value, an indication of each of their contributory values can be developed and identified. Depicted in the picture above is a Comfort Inn. Purpose of the report, to facilitate a loan.

Religious Facilities: A typical facility as constructed in the past consisted mostly of a sanctuary or worship space. Most older facilities exist with functional super-inadequacies such a overly high ceilings, very thick exterior walls, or extremely ornate designs. In today’s market religious facilities have evolved in development to include schools/classrooms, administrative offices, kitchens, and even retail sales areas (e.g., bookstores and espresso areas). Many of the newer facilities also have a campus-like setting with peripheral buildings.

A more recent phenomenon, which is likely to exist for many years, is the development of suburban “family life centers”. These facilities typically provide large halls designed for any number of activities. These multi-purpose rooms provide large areas that can double as a gym, dining hall, youth room or secondary sanctuary. The concept is to have a space where the congregation can conduct more ancillary activities. Such centers are often built around classrooms, administrative offices, or other typical uses. The facilities provide “flex space” for the facility for many years to come and allows for growth.

These type of needs are usually very localized, and thus our reports look very carefully at the composition of the locale of the existing or proposed facility.

The valuation of religious facilities needs to be carried out using acceptable methodology. All three approaches to value should parallel. Purpose of the report, to facilitate a loan.

Industrial: There are a myriad of industrial properties and sub-types requiring specialized experience in valuation issues in the industrial appraisal process. Building on that foundation, our specialty centers around such sub-types as distribution and transportation facilities, small manufacturing and processing facilities, and cold storage facilities including potato, and onion storage. The facilities pictured above left include a wholesale distribution property with lay-down yard and truck scales and the property at right depicts a small industrial manufacturing plant of six-buildings and offices. The purpose of the reports; loan underwriting.

Wineries and Vineyards:

Washington grape and wine production keeps growing and is second only to California. The industry sees growth continuing. Cellar doors are opening all over the Inland Northwest and new vineyards are being planted.

The facilities pictured above include a vineyard, winery and distribution/bottling facility supporting over 650/acres of vineyard. This property is one of ten we appraised in 2015 and is a full service grower, vinter and production facility.

In Washington Wine Country, you will experience award-winning wines straight from the source and often poured by the wine-maker. The region contains the first AVA (American Vitacultural Area) – Yakima Valley AVA, which originated in 1983. Now, the over 240 wineries in Washington Wine Country include grapes from the regional AVA’s of Columbia Valley, Walla Walla Valley, Yakima Valley, Red Mountain, Rattlesnake Hills, Horse Heaven Hills, Snipes Mountain and Naches Heights AVA’s.

Washington state’s wine grape harvest set a record for the third straight year with 227,000 tons in 2014. Growers received an average of $1,110 per ton for all varieties in 2014, unchanged from the previous year. Of all the published varieties, Grenache received the highest price per ton at $1,674. The average Cabernet Sauvignon price increased $8 per ton from 2013 to $1,448 and the average Chardonnay price was up $6 per ton to $922. Growers received an average of $799 per ton for White Riesling, $3 more than in 2013. The average Merlot price per ton decreased $6 per ton to $1,180.

Washington is second only to California in wine and wine grape production.

Washington has 350-plus growers, approximately 50,000 wine grape acres and more than 850 wineries producing 12.5 million cases of wine a year. Winery revenue is estimated at $1 billion annually by the state wine commission.

The examples above represent only a few of the types of property we appraise. For more information, please contact us.