Initial Value of Real Estate

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by a searcher from University of Texas at Austin
in Lexington, KY, USA

7yrs ago

Initial Value of Real Estate

I have looked at a couple of companies that include real estate. Wondering if anyone has a good resource for a high-level valuation to see if the Buyer's asking price is in the ballpark of market value. I'm having trouble finding comparable information for recent commercial property transactions (warehouse, mfg, etc.). Don't want to incur the cost of an appraiser prior to signing an LOI but know this will be required as part of a loan. Thanks!

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reply by a searcher 7yrs ago
from Michigan State University in St. Louis, MO, USA

Pro tip: reach out to the local economic development people for the city or county, or small business development centers, and tell them you're interested in investing in the area and creating jobs (if that is what you intend to do). Oftentimes these folks will have a Costar subscription. Ask them to run you a report. If you can't get good data, just do an LOI on their asking price, do your DD and retrade it if it's off. This is much more common in RE than biz acquisitions, because pricing is much less contentious.

reply by a professional 1yr ago
from University of Dayton in New York, NY, USA

You should consider a sale leaseback for acquisition financing. Sale leaseback would allow you to pull out the capital from the real estate and add it to your capital stack. A lot of times there is spread between the sale leaseback and seller expectations so it could be quite beneficial to your process. I developed courses on this strategy and can underwrite these deals as well!