Thursday, June 7, 2018

A Good Office Valuation System Allows Comparison of Values Across All Classes

(Click on the image to enlarge)
Based on the quality of construction, architecture, size, amenities, location, stories, tenancy, view, upkeep, etc. office properties are classified into three major categories: Class-A, Class-B and Class-C. Accordingly, their rental rates are significantly different, with A class properties (save Trophies) commanding much higher rental rates than their lower counterparts. Similarly, B and C classes rarely attract upscale ground floor retail and triple-A office tenants.

Of course, in major cities, a limited number of Trophy properties (for example, One World Trade Center in NYC Downtown and Empire State Building in Midtown) exist as well. Trophies generally fetch higher rental rates - both retail (ground floor) and offices than Class-A's in the area. They tend to be architectural masterpieces as well. Empire State Building in Midtown Manhattan needed half a billion (perhaps millions more) in rehab capital to restore it to its old glory.

I used SkylineValue.com to produce these sample valuations as I own and operate the site, to avoid having to deal with any copyright issues. The site is mobile-friendly so no additional Apps are needed. It's also totally FREE and NO login/registration of any sort is required. 

In order to value an office property on this site, all one needs to know is the general location, rentable square feet and a few general property characteristics, all of which are easily obtainable online. Once these data elements are available, users can have the system process the valuation in 60 seconds or less. 

This system is designed for the Pros and Non-Pros, offering a "Quick Look" valuation and is intended to complement the traditional valuation, not replace it. 80 Major Office Markets in the US and Canada are currently covered. 

Just click on the market of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to SkylineValue.com:


What the Experts are Saying:
“I checked out SkylineValue.com and I have to say that its awesome.  This is a classic case of good things come in small packages.  I was excited to see that the [XXXX] market is included.  I could see this being a very handy tool for investors, appraisers, portfolio managers or just average Joe’s who like to dabble in Commercial real estate.   For my own purposes, I selected different parts of Long Island and different sub groups of properties and I was astonished at how much flexibility and how quickly I was able to retrieve accurate values without the need for full blown work ups.  The fact that I can get a valuation right on my device in about 60 seconds is a breath of fresh air.  I will be using SkylineValue regularly!”     

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