Types of Appraisals
 
    Commercial
Industrial
Institutional
Mixed Use
Office
Recreational
Residential
Special Purpose
         
       
  Special Purpose  
   

According to the Dictionary of Real Estate Appraisal, published by the Appraisal Institute, a special purpose or specialty property is defined as “a limited market property with unique physical design, special construction materials, or layout that restricts its utility to the use for which it was built” (p. 283).  The valuation of special purpose properties can be challenging, particularly due to the limited amount of comparable sales and leases that are available.  While all three approaches are considered within this analysis, typically the Cost Approach is the driving valuation method.  All of the appraisers of Indian Valley Appraisal Company are well versed in the Cost Approach process and analysis.  Our firm has completed property valuations on various special purpose properties, such as:

  • Churches
  • Concrete Batch Plants
  • Sewage Treatment Plants
  • Cemeteries
  • Quarries
  • Medical Surgery Centers
  • Fitness Centers
  • Golf Courses
  • Banquet Facilities