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Commercial valuation
Are you buying, selling or renting out a commercial property? Then it’s a good idea to get a commercial valuation first. A commercial valuation gives you a good overview of the property’s value and condition. Through us, you can quickly get in touch with a skilled valuer who can help you with a commercial valuation, no matter where in the country you are.
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What is a commercial valuation?
A commercial valuation is a thorough assessment of the value and condition of a commercial property. This can be anything from office buildings and retail premises to industrial buildings and warehouses. The appraiser conducts a detailed review of the property, both inside and out. Factors such as location, size, standard, maintenance and market conditions are considered.
The purpose of a commercial valuation is often to determine the property’s market value when buying, selling or letting. The valuation can also be used as a basis for financing, insurance, tax matters or disputes. A commercial valuation is carried out by a certified valuer with specialist expertise in commercial real estate. The appraiser is independent and objective in their assessment.
The result of the valuation is a detailed valuation report that describes the property, its condition and value. The report provides valuable information that can be used as a basis for decision-making by the property owner or interested parties. A commercial valuation creates security and predictability around the valuation of the commercial property.
What does a commercial valuation cost?
The price of a commercial valuation varies greatly. In addition to size, the price depends on the appraiser’s hourly rate, travel distance and time spent. An appraisal of a complex property with several buildings will take longer and therefore cost more than a simpler property. Additional services, such as energy labeling or building condition analysis, are also included.
Price examples:
- Normal hourly rate: from NOK 1.300 to NOK 2.000.
- Smaller offices/retail premises: from NOK 9,000
- Building yards: from NOK 15.000
- Commercial buildings: from NOK 15.000
- Commercial plots: from NOK 15.000
- Rental assessments, simple premises: from NOK 6.000
- Rental assessments, larger buildings: from NOK 13.000
The cost of a commercial valuation is typically in the range NOK 10,000 to 50,000 excluding VAT. For a smaller commercial property of around 100 m2, the price will often start from around NOK 9.000. A large commercial property of 1,000 m2 can easily cost NOK 30,000 to 40,000 to appraise.
Although a commercial valuation may seem like a significant cost, it should be seen as an investment. A thorough and reliable valuation can save you from unpleasant surprises and wrong decisions in the long run.
What affects the price?
- Size: The larger the property is in area, the higher the price will be. More area requires more time to review.
- Complexity: A complex property with multiple buildings and functions will take longer to review than a single building.
- Location: The appraiser’s travel distance to the property comes into play. Long journeys result in increased costs.
- Condition: A property in poor condition may require a more thorough investigation and therefore more time.
- Market conditions: In depressed markets with high demand for appraisers, prices may increase.
- Additional services: Additional services such as energy labeling or condition analysis are in addition to the basic price.
- Data basis: The number of available documents and drawings about the property affects the time spent. Missing documentation leads to more work.
- Urgency: Express assignments with a short deadline will often have a higher price compared to normal assignments.
- The appraiser’s expertise and experience: Highly qualified appraisers with specialized expertise may have a higher hourly rate.
What is checked in connection with a commercial valuation?
In a commercial valuation, the valuer carries out a thorough review of the property. This includes, among other things:
Exterior assessment:
- Location and surroundings
- Land and outdoor areas
- Building exteriors and facades
- Roof construction and roofing
- Windows and doors
- Foundation and drainage
Interior assessment:
- Floor plan and areas
- Building structures
- Surfaces and use of materials
- Standards and maintenance
- Technical installations such as plumbing and electrical
- Universal design and accessibility
- Any tenant adaptations
Document review:
- Drawings and area overviews
- Building applications and approvals
- Leases and rental rates
- Operation and maintenance agreements
- Financial statements and budgets
Market valuation:
- Comparable properties
- Supply and demand in the area
- Development trends and future prospects
The valuer assesses all these elements against each other to form a comprehensive picture of the property. Any discrepancies, damage or deficiencies are noted. Positive characteristics that increase the value are highlighted.
The aim is to arrive at a realistic market value for the property, based on its current condition and future potential. A well-documented commercial valuation provides peace of mind for all parties involved. Through Takserer.no, you can get in touch with experienced valuers who know what to look for to give you a reliable valuation of your commercial property.
Valuation of commercial property
Commercial property valuation is about determining the value of the property in today’s market. The valuer must have in-depth knowledge of the local market for the type of property in question, whether it’s offices, shops or industry.
A key factor in the valuation is the rental income the property generates. The valuer reviews existing leases and assesses the market rent for any vacant space. The length of the leases, the solvency of the tenants and price adjustment mechanisms come into play.
The property’s location, condition and development potential also have a major impact on its value. A property with an attractive location and good development potential will be worth more than a similar property in a less central location.
The valuer takes all these parameters into account and prepares a thorough valuation report. The report contains a description of the property, an assessment of its technical condition, an overview of the area, tenancy conditions and a conclusion on the market value.
What is considered a commercial property?
Commercial property is an umbrella term for properties that are used for income-generating purposes. The most common types of commercial property are:
- Institusjonelle Office buildings: Properties with offices for various businesses, often in central areas.
- Retail buildings: Properties with retail or restaurant premises, often in city centers or shopping malls.
- Mixed-use buildings: Buildings with a combination of, for example, office, retail and residential space.
- Industrial properties: Factories, auto repair shops, warehouses and logistics buildings for industrial activities.
- Logistics properties: Specialized buildings for goods and freight handling, often at transport hubs.
- Hotels and accommodation: Properties for temporary accommodation, such as hotels, motels and guest houses.
- Parking facilities: Parking garages or larger parking lots operated as a separate business.
- Institutional properties: Properties for health, care, education or other community functions. : Eiendommer for helse, omsorg, undervisning eller andre samfunnsfunksjoner.
Unlike private homes, commercial properties are primarily investment and income objects for the owner. The tenants are responsible for the day-to-day use of the premises.
A commercial property may comprise one or more buildings on the same site. The buildings can be tailored to a specific type of business or have a general design that suits different tenants.
What are the different purposes of a commercial valuation?
A commercial valuation provides valuable insight into the key attributes of a commercial property. It provides information about the property’s area, condition, tenancy and location. It also highlights the property’s potential and market value, both in its current form and with possible further development. A professional assessment of these elements is essential for making informed decisions when buying, selling, renting or financing commercial real estate.
The most common purposes:
- Buying and selling
- Financing and financing
- Financial reporting
- Tax and duties
- Insurance and insurance
- Disputes and litigation
- Assessment of measures and plans
- Utilization of land
- Development opportunities
How do I get a quote for a commercial valuation?
To get a quote for a commercial valuation, it’s common to contact several valuers or valuation companies to compare prices and services. It’s important to choose an appraiser with relevant expertise and experience in the type of property you’re appraising. At Takserer.no, we do this job for you. All you need to do is enter a brief description of the assignment and we’ll find the appraiser who best suits your needs and budget, so you can spend your time on other important things.
Our partners have extensive experience with all types of commercial properties across the country. They know the local market and have the necessary expertise to provide a thorough and reliable valuation.
Through our nationwide network, we can put you in touch with appraisers who have competitive prices and fast response times, no matter where the property is located.
Fill in the form on our website and a skilled and experienced appraiser will contact you shortly. Our service is free and without obligation.