Appraisers play an essential role in the sale of any commercial real estate. Whether you were hired by the buyer or selling party, all parties involved in the sale need to know the true value of a commercial property, and that can only happen when you have all the relevant information at your fingertips. To improve the speed and accuracy of commercial appraisal, GIS has proven to be a powerful tool, providing you with comprehensive data and insights you need to make informed decisions. 

Commercial appraisal can be a very complicated undertaking. On top of all of the usual factors that affect the value of real estate, commercial property appraisals must consider the needs specific to each type of business or industry. You must be able to determine the value of any equipment, systems, and other assets on the property that could impact the running of a business. By embracing GIS mapping in your appraisal efforts, you’ll see that this technology helps you gain insight into a property’s many attributes, track and visualize datasets, and form a fuller, more accurate picture of a property.  

Location Optimization

When conducting a commercial appraisal, one of the main issues is determining a property's location in relation to suppliers and customers. This information is vital in determining a property's potential for success and can significantly impact its value. However, manually evaluating this information can be time-consuming and often leads to inaccuracies.

GIS technology can solve this problem by providing data on the distance or drive time to suppliers and customers and providing a visual representation of the locations on maps. By utilizing GIS, you can quickly and efficiently evaluate a property's location in relation to key suppliers and customers, giving you a more accurate picture of its potential for success. This information can be used to make informed decisions on warehouse location or distribution center and ultimately achieve better results in your commercial appraisal. 

Identify Resources

The commercial appraisal process can be tricky, and it's not just the property itself that you have to consider. The surrounding environment and resources available nearby can greatly impact a property's value, but evaluating them can be like trying to find a needle in a haystack.

Enter GIS technology, your trusty haystack sifter. With detailed mapping and information on nearby resources, GIS makes it easy to identify the availability and location of amenities and services such as schools, parks, hospitals, and other points of interest in the area. This information can play an important role in determining the property's potential value and suitability for certain tenants or buyers. GIS can provide a holistic and detailed view of the property and its surroundings, enabling you to make more informed decisions in your commercial appraisal process. This can include identifying the best location for a property with respect to population, education level, and income demographics, all of which can affect the property's value. No more digging through stacks of outdated data; GIS keeps you ahead of the game and helps you make informed decisions in your commercial appraisal process.

Get Land Sale Data

Land sale data plays a critical role in commercial real estate appraisals as it provides valuable insights into the property's potential for development and any limitations or restrictions that may impact its value. With accurate land sale data, realtors can make more informed decisions about a property's value and better understand the market trends in a specific area. It also helps in understanding property ownership, zoning, land use patterns, and other relevant details that can affect the value of the land. 

GIS technology provides an easy and efficient way to gather land sale data. With GIS, you can access information on property ownership, zoning, land use patterns, and more. This information can be easily visualized on maps, making it easy to understand the context and relationships between different data points. GIS also provides the ability to filter and search for specific data, making it easier to find properties that match specific criteria. This makes gathering and analyzing land sale data easy, providing realtors with the information they need to make informed decisions in the commercial appraisal process.

Find Comparable Properties

When it comes to commercial real estate appraisals, having accurate information on comparable properties is crucial. This is where GIS comes in as a valuable tool. By using GIS, you can find the value of comparable properties in a given area and uncover hidden gems that may have been overlooked.

Imagine you're looking to appraise a commercial property in a specific area. With GIS, you can pull up a map of the area and see all the comparable properties in the vicinity, including their values, sizes, and amenities. This information alone can give you a good idea of the general market trends and the value of the property you're appraising. But what if you want to find something truly unique?

Using GIS, you can dig deeper and uncover properties that may have been overlooked. For example, you can use GIS to filter properties by specific criteria, such as location, age, and size. This allows you to narrow your search and find properties that may not have been immediately obvious. You can also use GIS to see the historical trends of the area, such as population growth, job growth, and median income. This information can give you a better understanding of the potential for future growth and development in the area, which can affect the value of the property you're appraising.

Get the Most Of Your Commercial Appraisal With Land id™

GIS technology has revolutionized the way we approach commercial appraisals, giving appraisers and agents access to powerful tools that can make the process easier, faster, and more accurate. With Land id™ (formerly MapRight), you can access detailed parcel information and create interactive, visually engaging parcel maps coupled with GIS data and custom mapping annotations. You can also plot deeds right from your desktop, georeference survey images or site plans, and view a property alongside parcel data, public lands, and more. 

Say goodbye to old-fashioned methods of commercial appraisal and hello to the power of GIS. Land id™ is the perfect solution for all your parcel mapping needs, providing accurate data and custom mapping tools to make appraising properties more effortless and efficient. Take the guesswork out of your appraisals—try Land id™ today!