Posted by Jusk on May 19, 2009 at 06:05:30:
In Reply to: Re: what is this property worth? posted by Garrett-BC on May 18, 2009 at 10:52:00:
Might cost more but it might not be worth more...forget about cost to build b/c you're dealing with depreciated values anyway...
You got three approaches - cost, sales, and income. If there are truly no comparable sales in your market, you're left with cost and income. The value might be a blend of the two or one might be more relevant than the other. For investment purposes, I would most likely only be concerned with the income generated unless you want to occupy the property yourself.
Anyways, we need some numbers from you. You're not giving us enough to work with. Run an anticipated income statement. What is the quality of the tenants and what are the remaining terms on the leases? Keep in mind, we know nothing about your market.