best eminent domain appraiser los angeles

Eminent Domain Appraiser Los Angeles

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Eminent Domain Appraiser Los Angeles

Valentine & Associates is the premier eminent domain appraiser in Los Angeles, California.

Eminent Domain Appraisals Explained

Eminent domain is the right of government to take private property for public use upon the payment of just compensation.  The 5th Amendment of the United States Constitution, also known as the “takings clause”, guarantees payment of just compensation upon appropriation of private property when the government enforces eminent domain. (Dictionary of Real Estate Appraisal, 4th edition.)

 

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Fiber Optics

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Appraisals for Fiber Optic Lines

Fiber optics are lines of thin glass that can send digital information by transmitting light signals. Thousands optic fibers are arranged in bundles and optical cables, protected by an outer covering, called a jacket. Optical fibers can be single-mode fibers that transmit infrared laser light, or multi-mode fibers that transmit infrared light from light emitting diodes (LEDs). Optical fibers have the diameter of a single human hair.

Fiber Optic Lines and Homeowners

Fiber optics were discovered in 1970 and the discovery has revolutionized the telecommunications industry. Today, more than 80% of the world’s long-distance traffic is secured over optical fiber cables and because of the increase of computer use, the current recession has had very little effect on the market for fiber.

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Appraising Fiber Optic Lines

Optical fibers can be buried underground or hung from poles above ground like electrical wires. When they are buried, the rule of thumb is that they be placed three to four feet deep and the cables typically encumber an area non-exclusively between three to ten feet wide. Protective cables are designed for approximately a 40-year lifetime, and the glass fiber inside the cable is good for a millennia as long as the coatings and plastics used in the cable remain intact. The biggest failure is damage from backhoes and/or digging up cables. The downside to placing cables underground, according to experts, is that the installation cost to place fiber optic conduits underground is twice as much as the cost to hang fiber optic cable from poles. However, more conduits can be placed underground for little additional cost per conduit, and several times more fiber can be installed simultaneously underground than on poles.

Because the industry has failed to make comparable sales and rental data available for fiber optic lines, appraisers are left to use alternative approaches of value. Methodologies that are used are similar to appraising a transportation corridor.

Fiber Optic Right of Way Appraisals

The Survey Method, where information from right of way owners who have allowed leases or easements for fiber optic lines on their corridors is one method where values can be obtained. Further information from users who have fiber optic lines throughout various corridors can help as well. Discussions may include those in private and public sectors for fiber optic right of way appraisals.

 

fiber optic right of way appraisals

Across the Fence method where the value of the corridor to appraise the fiber optic right of way is similar to the value of adjacent properties may also be used. Across the Board or Region is another method that was developed in the early days of the fiber optic cable line growth, when fiber optics had a window of opportunity to beat out the competition and secure laying thousands of miles of fiber optics in agreements that needed to close in a very short period of time.

Example of Appraising a Fiber Optic Right of Way

An example of a fiber optic right of way is when negotiators for Southern Pacific Transportation Company needed an idea of the value of real estate fiber optic lines which encumbered their corridors, so a rough Across the Fence (ATF) value was arrived at and eventually, Across the Board value for fiber optic lines which equaled $10,000 an acre for rural areas and $25,000 an acre for urban areas was agreed upon. These numbers were used for nearly two decades (1980’s-1990’s). Another acceptable unit of comparison for Across the Board fiber optic right of way appraisal approach is price per mile.

Final Approach for a Fiber Optic Right of Way Appraisal

The final approach that is used for a fiber optic right of way appraisal the Market Approach, which is recognized as the most reliable method for appraising real property for fiber optic lines. This approach requires obtaining comparable leases and easements of fiber optic lines. These are adjusted for necessary market adjustments, including terms and conditions of agreement, changing market conditions, location differences, and differences of physical characteristics between the comparable and subject property.

Because the telecommunications industry continues to grow at a rapid pace and there is a blockage of free flowing information due to confidential agreements, the appraisal of fiber optic lines continues to vary. Until there is some level of uniformity in the units and elements of comparison in appraising real property for fiber optic lines, the marketplace will continue to accept a host of methodologies and approaches of value.

Valentine, G.S. & Hodges, T. (2011, July/August). Fiber Optic Valuation: The need for conformity. Right of Way, 28-32.

(http://dictionary.reference.com/browse/fiber+optics)

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Valuation of Wetlands

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What Are Wetlands? Why are they Valuable?

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Choose the best wetlands appraiser

Recent scientific discoveries and a changing political landscape have radically altered the status of wetlands and because of this, the valuation of wetlands has become more important in the marketplace.

Wetlands have been transformed from an undesirable land form to an important natural resource, and are highly regulated types of real estate.

Wetlands bring to mind distinct images of swamps, bogs, marshes, and other areas where wet, mucky bottoms are filled with fish, wildlife, and insects. For this reason, the valuation of wetlands should be handled by an expert in this field.

Also, some wetlands are disguised and during the dry season are not wet at all, so properly identifying them as wetlands can be difficult.

Valentine Appraisal & Associates are experts at the valuation of wetlands and wetlands appraisals. Call us (661)288-0198 or shoot an Email: gsv@valentineappraisal.com

The 5 Types of Wetlands

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Nationwide experts on wetlands valuation

Wetland identification and boundary delineation is best left to certified specialists, as five basic types of wetland systems are known.  Their general characteristics are:

(1) Rain System, consists of ocean and extension to the high watermark along the shoreline.

(2)  Estuarine System, such as salt marshes and mangrove swamps, are located in tidal areas.

(3)  Riverine System, associated with rivers, creeks, channels, and channelized waterways.

(4)  Lacustrine System, associated with lakes and reservoirs.

(5)  Palustrine System, associated with swamps and bogs, separate from other wetland systems.

Wetlands are valuable because of physical, legal, social and economic impact on the environment and how they affect society and the ecosystem.

Traditional Approaches to Wetlands Valuation

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Trust Valentine Appraisal & Associates for your wetlands appraisal needs

The three traditional approaches to wetlands valuation are: Sales Comparison, Cost, and Income. They are developed to estimate the market value of real property and should all be used as data permits when appraising wetlands.

There are different ways in appraising wetlands in the sales comparison approach, outlined below.

(1)  Best Wetlands Appraisals use the Hole to Hole Analysis: Identifying sales with wetland ratios similar to the property being appraised, or able to be adjusted for differences in wetland ratios based on market-extracted data.

(2)  Best Wetlands Appraisals will consider the Sum of the Parts Analysis: When the market values of wetlands and the uplands are estimated separately then added together to estimate a market value as the property has evolved.

(3)  Best Wetlands Appraisals examine the Residual Analysis: A combination of Hole to Hole and Sum of the Parts methods when sales of only one component are available.

To create the best Wetlands Valuations,  the Cost Approach is like the Sales Comparison Approach, but is based on the economic principle of substitution.

The Income Approach is very seldom used in the best appraisal of wetlands except when the wetland is encumbered by a lease.

Wetlands Valuation and Special Considerations

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A wetlands appraisal should take into consideration plants and animals living there.

Some special considerations exist that wetlands appraisers should keep in mind when appraising the market value interest of wetland properties.

These include when timber or mercantile agriculture are present, endangered or threatened species of plants and animals are living in the wetlands, or when restricting easements and reservations are involved.

Valentine Appraisal | Appraisal of Retail Shopping Centers

Expert  Wetlands Advice

Valentine Appraisal & Associates has the expert knowledge and experience to thoroughly appraise wetlands. To get the best retail shopping center appraisal possible, contact us at (661) 288-0198.

About Valentine Appraisal & Associates

Gary Valentine is the owner of Valentine Appraisal & Associates and has been appraising real estate and closely-held businesses since 1983.  His appraisal experience includes reviewing and appraising residential, commercial, industrial, agricultural, transportation corridors, and other special use properties in California and other parts of the United States and Mexico. Prior experience includes four years with Marshall and Stevens in Los Angeles, the second largest appraisal firm in the United States; five years with Southern Pacific Transportation Company’s appraisal departments in San Francisco and Los Angeles; and two years with a private valuation firm in Fresno, California. He has also taught appraisal classes at the College of the Canyons in Santa Clarita, California. Gary holds a B.S. in Business Management from Brigham Young University and has completed numerous courses and seminars sponsored by the American Society of Appraisers and the Appraisal Institute.

Gary Valentine Bio: http://valentineappraisal.com/new/valentine-appraisal-team/gary-valentine/

Appraisal of Retail Shopping Centers

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Retail Shopping Center Appraisal

Valentine Appraisal & Assoc specializes in Retail Shopping Center appraisals

What Is a Retail Shopping Center?

A retail shopping center is a cluster of businesses that sell consumer goods and/or services to customers through multiple channels of distribution to earn a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumers’ wants and needs through a lean supply chain.

Valentine Appraisal & Associates are experts at retail shopping center appraisals.(661)288-0198 Email: gsv@valentineappraisal.com

Various types of retail shopping centers including neighborhood, community, regional, and super-regional, dot the American landscape and play a major role in the everyday life of the American people.  As important as retail shopping centers are to the way we live, we cannot forget their original purpose, to create profits for retail owners and provide goods and services to consumers. Retail shopping centers have the following characteristics:

Retail Shopping Center Appraisal Characteristics

    1. Size of the shopping center. This is measured in gross leasable area.
  1. Anchor tenant
  2. Type of product sold
  3. Site size
  4. Distance of travel time
  5. Customer base

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Retail Shopping Center appraisal customer

Valentine Appraisals are experienced at Retail Shopping Center appraisals

The traditional types of retail shopping centers include super-regional, which requires a population of 300,000 or more, 12-mile radius, and 30-minute drive; regional shopping centers require 150,000 or more population, 8-mile radius, and 20-minute driving time; community centers are supported by a population of between 40,000 and 150,000, 3 to 5-mile radius, and 10 to 20-minute drive.  The smallest centers are neighborhood retail centers, which require 2,500 to 40,000 population, 1.5-mile radius, and 5 to 10-minute drive.

Shopping centers in general, and regional and super-regional malls in particular, have traditionally been considered very desirable investments.  Their desirability is due in part to the discipline and stability that an anchor tenant brings to a shopping center.

There are three general categories of economic analysis that need to be considered when appraising such properties: local economic analysis, market analysis, and marketability analysis.

The site and building characteristics of a shopping center include the analysis of various site attributes.

Retail Shopping Center Appraisal May Include:

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Shopping Center Appraisal Experts

  • Footprint of the building
  • Customer parking
  • Parking lot circulation
  • Parking lot lighting and security
  • Parking in relation to building entrances
  • Employee parking
  • Shape of site
  • Access to site area
  • Site’s relationship to street pattern
  • Ease of access
  • Visibility
  • Signage
  • Landscaping
  • Topography and drainage
  • Utilities

Exterior building characteristics that should be analyzed include the building area, building configuration or shape, and building elevation materials.

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Significant interior building characteristics that should be noted include storefronts, store size, building flexibility, multiple levels, food courts, and interior signage.

Highest and Best Use Analysis

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Shopping center appraisals nationwide

In the highest and best use analysis, the shopping centre appraiser integrates the site’s specific analysis undertaken with the three approaches of value with each other and with the general marketability analysis described earlier.  The appraiser of the retail shopping center needs to identify the highest and best use of the land as though vacant and as improved. This helps to maintain the best shopping center appraisal.

The Sales Comparison Approach studies and simulates the thinking of buyers, sellers and intermediaries who make up the market for the subject and comparable retail shopping center properties to forecast a behavior in future transactions.

The Cost Approach may establish an effective upper limit from the market value of retail shopping center property.  To apply the approach, the appraiser estimates the replacement cost of the improvements minus accrued depreciation plus the market value of the site for the type of center.

Income Forecast of the Retail Shopping Center

The following information should be obtained from the existing leases encumbering the retail shopping center:

  1. Dates and parties of the lease
  2. Identification of the premises
  3. Term of lease
  4. Location
  5. Rental payment
  6. Repairs
  7. Alterations clause
  8. Insurance clause
  9. Eminent domain clause
  10. Tenant’s right to signage
  11. Fixtures clause
  12. Destruction clause
  13. Estoppel clause
  14. Default clause
  15. Use and exclusive use clause

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best retail shopping center appraisals

Find the best retail shopping center appraisals

Percentage or Overage Rents

The appraiser reviews the lease clauses that require the retailer to pay a certain percentage of its sales to the landlord and analyzes the history of these payments to forecast future percentage rental payments.  Then the three traditional approaches of value are analyzed against each other in arriving at a reconciliation of value.

Expert  Retail Shopping Center Advice

Valentine Appraisal & Associates has the expert knowledge and experience to thoroughly appraise retail shopping centers; so to get the best retail shopping center appraisal possible, contact us at (661) 288-0198.

About Valentine Appraisal & Associates

Gary Valentine is the owner of Valentine Appraisal & Associates and has been appraising real estate and closely-held businesses since 1983.  His appraisal experience includes reviewing and appraising residential, commercial, industrial, agricultural, transportation corridors, and other special use properties in California and other parts of the United States and Mexico. Prior experience includes four years with Marshall and Stevens in Los Angeles, the second largest appraisal firm in the United States; five years with Southern Pacific Transportation Company’s appraisal departments in San Francisco and Los Angeles; and two years with a private valuation firm in Fresno, California. He has also taught appraisal classes at the College of the Canyons in Santa Clarita, California. Gary holds a B.S. in Business Management from Brigham Young University and has completed numerous courses and seminars sponsored by the American Society of Appraisers and the Appraisal Institute.

Gary Valentine Bio: http://valentineappraisal.com/new/valentine-appraisal-team/gary-valentine/

commercial property appraisals

Convenience Stores and Fuel Properties

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What is a convenience store?

Convenience Store Appraisal Los Angeles County

fuel station appraisal

A convenience store is a retail business with primary emphasis placed on providing the public a convenient location to quickly purchase from a wide array of consumable products (predominately food and gasoline) and services.  While such operating features are not a required condition, convenience stores have the following characteristics:

Convenience Store Characteristics

  • A building with typically less than 5,000 sq. ft.
  • Auxiliary parking/or convenient pedestrian access
  • Extended hours of operation
  • Stock at least 500 units
  • Product mix includes grocery items, beverages, snacks, and tobacco

Appraising Convenience Stores

Upon appraising convenience stores and fuel properties, it is important to analyze the trade area, which is the geographic area within which the subject convenience store competes for business.  The industry typically recognizes a 2-mile radius in urban areas.  In small rural communities, the trade area often covers a major portion of the town or even an entire city.

Features of a Convenience Store| Supermarket Appraisal

Typical features in such property profiles include store size, parking, visibility, external appearance, overall pricing, fuel branding, fuel service, food service, weekly hours of operation and other services, and restrooms.  These physical characteristics are important to analyze the demand and supply of such products.

Appraisal for Service Stations and Fuel Properties

The Service Station Saturation Index (SSSI) is an important tool in analyzing the retail fuel demand for a given neighborhood.  It determines the percentage of convenience stores that an area can and should have to provide adequate service at a profit.   A balanced market will have a SSSI of 100.  If the SSSI is 200, then there are twice as many stores as can be supported.

Convenience Store, Supermarket and Fuel Property Appraisal

Upon first appraising the property, site assessment is an integral part of the fuel property appraisal.  It includes the analysis of its access, forecourt (which is an area where fuel dispensers and canopies are located), store envelope (which includes the building footprint), and location criteria.  Site and criteria vary from company to company, depending on the company’s target market and business mall.  Some use various location criteria for convenience stores.

Convenience Store | Supermarket Appraisal Criteria May Include:

  • primary market area
  • an analysis of market area
  • vehicle and traffic count
  • traffic speed limit
  • going home side of the street
  • convenience store competition
  • supermarkets and shopping plazas in the trade area
  • corner site,
  • ease of ingress and egress
  • population density
  • household density and type
  • employment and occupation of the neighborhood
  • family income
  • population mix and age distribution
  • automobile ownership
  • age of houses
  • nearby schools
  • and hour of operations.

Convenience Store or Supermarket Design Assessment

Convenience Store Appraisal

Convenience Store Appraisal

A Convenience store design assessment is required.  This includes basic building design elements such as:

  • exterior appearance
  • size of the store
  • interior design.  Other additional products the appraiser must take into consideration include:
  • fresh deli and brand foods
  • nutritional snack and energy bars
  • enhanced beverage selection
  • enhanced snack selection
  • video rentals
  • pharmacy
  • carwash,
  • car care center
  • vacuum/air service,
  • attendant,
  • copy/fax services,
  • stamp/mail center,
  • dry cleaning and pick up,
  • post office and mailing center,
  • photo processing,
  • ATMs, and others.

Fuel Service and Canopy Assessments

Fuel service and canopy assessments are then required.  This service includes the underground storage tanks, dispensers, canopies, electronics, and piping.  A fuel dispensing system design depends on numerous factors, including:

  • the facility’s size and volume of business,
  • the number of different grades,
  • blends, or separate fuel products it sells,
  • and the desirability of features such as self-service,
  • remote cashiers,
  • prepayment, and multi-tier pricing.

About Appraising Storage tanks for retail fuel facilities

These fuel tanks are installed underground as they are shielded from extreme temperature variations, fire, and vehicles moving through the gas station.

Large fuel storage tanks hold as much as 12,000 gallons of fuel.  Pipelines are used for fuel traveling from the storage tank to its dispenser through underground.  A single storage tank can serve several dispensers, so pipelines may be extensive.  Dispensers are a component the appraiser should be most concerned with when conducting field operations.

Fueling Dispensers

 

There are different types of fuel dispensers that appraisers must be concerned with:

  • self-contained and remote pumps,
  • dual product dispensers
  • 1-product and 2-product fuel dispensers
  •  multiple product dispensers
  • blending fuel dispensers
  • and mechanical electronic fuel dispensers.

Finally, a canopy gives a convenience store identity and can be a petroleum market tier signature element.  Canopies come in many shapes and sizes, and can be pre-engineered or custom developed for a specific site.

Convenience Store Canopies

Non-realty convenience store equivalent generally falls into two categories: store equipment and restaurant equipment.  Equipment appraisal differs from real estate appraisal, but convenience store appraisers are often asked to provide an opinion of value for non-realty equipment associated with convenience stores.  Upon appraising equipment, there are five definitions of value: (1) cost of reproduction, (2) fair market value, (3) fair market value and use, (4) orderly liquidation value, and (5) forced liquidation value.

Upon appraising the site property, the three traditional approaches, including Cost, Income, and Sales Comparison, are applied followed by reconciliation of value.  Then, after estimating EBIDTA (Earnings Before Interest, Depreciation, Taxes and Amortization), separating real estate value from business value is necessary.  Finally, deducting tangible asset returns and business profit is often necessary.

 

 

 

 

 

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Appraisals for Tennis Courts and Racquet Sport Facility

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Appraisals for tennis and sports clubs

Find appraiser for tennis and sports clubs at Valentine Appraisal & Associates

 

Looking for a Tennis Court | Racquet Sport Facility Appraisal?

Tennis and racquet sports club appraisals started in England in 1873.  At least that was the year lawn tennis was introduced by Major Walter Clopton Wingfield.  In fact, the game of tennis may be traced back to the days of ancient Greeks.  Tennis was brought to the United States and organized in 1881.

Need for Tennis Court Racquet Sport Facility Appraisals

  In recent decades, the bulging demand and the construction of thousands of tennis courts from public agencies, private clubs, resort operations, and residential developments have occurred.   The different types of tennis courts are outdoor clubs, indoor clubs, indoor/outdoor clubs, resorts, residential tennis facilities, in addition to racquetball, squash, paddle tennis, and platform tennis. 

Tennis Court Racquet Sport Facility Appraisals : What is Involved in the Appraisal of a Sports Facility

 

Before the appraisal is undertaken of a new facility, the appraiser must do some careful research.  Breakeven points are rising as expenses increase the sale.  The measurement of demand is traditionally made in terms of players per tennis court.  For instance, for an appraisal that reports a level of approximately 120 players per court, the figure is based on the total number of existing future tennis players in the area and the total number of courts currently available within an area defined by a 15-minute driving time. 

Tennis Court Facility Appraisal Characteristics

Most appraisers estimate the potential number of players in an area by computing a percent of the number of persons and families with incomes of a certain level.  There does not appear to be any loyalty to clubs, so convenience is an important factor in a tennis court facility appraisal.  The final component of the tennis facility market analysis is a survey of existing competitive tennis facilities and plans for proposed tennis courts serving a particular area.  The appraiser must perform independent research to determine the level of demand in any specific location and the supply of facilities representing the demand. 

Appraisal of indoor tennis club facility

Indoor tennis club facility

Part of the site consideration includes location, size, shape, access, and zoning.  Some of the physical characteristics of a facility that must be considered include design, building type, tennis court layout, tennis court construction, lighting, heating and ventilation, and special equipment. 

Financing of a Tennis Club Facility

 

Financing of a tennis club has been one of the major impediments to construction of enough courts to meet demand adequately in the United States.  There are many reasons why racquetball courts and tennis courts are not financed.  They include: (1) the property is too specialized; (2) uncertain long-term appeal; (3) difficult to judge management expertise; (4) lack of long-term financing; (5) no prolonged experience to draw from; (6) concern about overbuilding; (7) lack of financial strength of principals; and (8) investors are not interested in this type of property.

Tennis and Racquet Club Facilities and Estimated Future Earnings

The Income Approach is the reliable approach to use when appraising tennis and racquet clubs and can inform the client of how to capitalize estimated future earnings.  The process is to project gross revenue from all sources and deduct from them the estimated annual operating expenses of all types.  The resulting net income may be converted to application of a capitalization rate, and may include both the direct capitalization analysis and the yield capitalization analysis.  The Sales Comparison and Cost approaches are often used too.  The approaches are then reconciled into a single value.  Be careful that any intangible assets and furniture, fixtures, and equipment are not included in the appraisal of real property. 

Final Thoughts on Appraisals of Tennis and Racquet Clubs by Gary Valentine Appraiser

 

Only two typical situations involve appraisals of clubs: (1) the club operates in leased quarters, and (2) the club owns the real estate and other assets.  Leased quarters can be a multiple tenancy or in a freestanding building.  An analysis of contributions of intangible factors to the overall value follow the same methodologies in all cases.  As a simplification, the business value may be estimated as the difference between the Income Approach and the Cost Approach. 

 

For more information on how to get your tennis court facility appraisal, please visit our proposal page.  Or you may also contact Gary Valentine directly.

 

 

 

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Golf Course Appraisal Tips

Posted by | Appraisal Reviews, Appraisal Services, Business Valuation, Consulting, Easements, Estate Tax Valuation, Gift Tax, Golf Course, Insurable Value, Land Valuations, Sports facility appraisal, Tennis Court Facility Appraisal | No Comments

Need to Have a Golf Course Real Estate Appraisal?

The game of golf as played in the United States originated in Scotland during the 15th century. The first permanent golf club and course in the United States was established in 1887 in Foxburg, Pennsylvania.

Since that time, there has been a steady growth of golfing facilities for some time except for the past decade. In 1950 there were 4,931 golf facilities; in 1970, 10,188 facilities; in 1990, 11,780; and in 2012, 15,500.

Types of U.S. Golf Courses that We Find Valuations For

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There are three kinds of operational golf courses found in the United States:
1. Private golf courses
2.  Municipal golf courses
3. Daily fee golf courses
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Private golf course are primarily member-owned, exclusive and non-profit. Municipal golf courses are owned by tax-supported governmental bodies, and are operated for people of the community. However, in recent decades the municipal golf course is often leased to a third-party for profit. The fastest growing golf facilities have been Daily Fee Golf Courses which are open to the public and owned by individuals, partnerships, or corporations.

Factors to Consider When Appraising a Golf Course

Upon appraising a golf course, the appraiser must take into consideration the make up of the population to support a golf course. Among the factors the appraiser reviews are the following: population, growth rates, age statistics, income levels, and recreation preferences. The appraisal will also reference the individual state in the United States where the golf course real estate appraisal is taking place such as AZ,NV,TX,CA,IA,HI,PA or NY.

Golf Course Maintenance

It must also be known that cost for golf course maintenance is always one of the largest expense categories.

Objective of a Golf Course Appraisal

private and public golf course valuation experts

The objective of a “golf course appraisal” may be for the following valuation purposes:

  • sale transaction
  • merger or stock transaction
  • lease arrangement
  • feasibility
  • financing
  • insurance
  • ad valorem taxation
  • or condemnation

The golf course appraisal value sought may also be for a value in exchange, value in use, assessed value, going concern value, insurable value, liquidation value, rental value, or leasehold value.

 

Adjustments Made in a Golf Course Appraisal

The adjustments made in the Sales Comparison Approach between golf courses used as comparables and the subject golf course may be

  • price per acre,
  • price per hole,
  • price per square foot,
  • and the number of rounds per year.

All of these adjustments must also be taken into consideration when arriving at an expert golf course valuation.

Methods to Use When Appraising a Non-Profit Golf Course

Non-profit private golf courses are owned and operated solely to benefit the members. They differ for analysis of profit-making private, semiprivate, or public courses owned by individual investors, hotels, or motels. As such, the three traditional approaches are applied and then concluded with a reconciliation section of the approaches of value.

Income differs between profit and non-profit clubs and daily fee courses. In addition, expenses will vary too.

Common Non-Profit Golf Course Expenses

The most common not-for-profit golf course expenses found on a golf course appraisal will often include:

  • operational expenses,
  • payroll taxes,
  • supplies,
  • maintenance,
  • repairs,
  • equipment reserves,
  • golf association dues,
  • other recreational facilities,
  • cost of goods sold,
  • administrative/management
  • staff salaries including payroll taxes,
  • office supplies,
  • insurance and utilities,
  • and other fixed charges

After determining that the highest and best use of the property is for a golf course, then the three traditional approaches (Sales Comparison, Income, and Cost Approach) are applied. Finally, a reconciliation of value is applied to arrive at the market value of the golf course.

What is Happening to Golf Courses Now?

Nowadays, many golf course appraisals are requested by our firm because golf courses are being taken out of operation more and more frequently now in the United States. However, the potential to redevelop or re-purpose troubled golf course properties is in part determined by zoning and restricted covenants contained in community contracts that limit property uses. Golf courses are often zoned for open space, which limits their “non-golf course use” to parks and other greenbelt purposes.

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Golf Course Appraisal Expert Gary Valentine

Also, homeowner opposition to changing a golf course to a business use is often usually quite strong. Owners of homes located adjacent to golf courses often had to pay a premium for views of lush fairways and water features, not views of commercial buildings and bright lights.

Therefore, the most likely redevelopment to a golf course involves a shift in business approach, which means keeping the golf course open but reducing its size.

Final Thoughts About Golf Course Appraisals

Due to the reduced number of holes, the redevelopment costs of golf courses are often reduced. Also, property values surrounding golf courses often increase making a faltering, money-losing golf course more viable as an investment. This may often be the most viable alternative for struggling golf courses: modernizing and upgrading the existing golf course facility. To discover the highest and best use of your public or private golf course, however, start with a professional golf course appraisal such as one provided by Valentine Appraisal & Associates. Visit their website at: http:www.valentineappraisal.com/new/

office building appraisal commercial los angeles

Office Building Appraisals

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Los Angeles Commercial Appraisal Office Building

Office Building Appraisals Los Angeles

Los Angeles Office Building Appraisals

Office Building Appraisals reach deep into the ancient times.  Any reference to office buildings and appraisals of office buildings first appeared in the form of chambers set aside for record-keeping in palaces of the earliest kings.  Much later, during the Italian renaissance, freestanding dedicated office buildings began to take shape in the great Italian banking houses.  But it wasn’t until the burst of technology innovation in the late 19th century that office buildings reached new heights, and the office building would assume its modern form.

Understanding LA Office Building Appraisals

To understand office building appraisals in Los Angeles it is necessary to recognize the fundamental aspects of the varied building types, including:

  • Location
  • Size and height
  • Class
  • Configuration
  • Building services and equipment
  • Building cost
  • Age
  • Origin
  • Use and ownership
  • Markets

Office Building Appraisals in LA

Types of Ownership of Office Buildings in Los Angeles

Types of ownership of office buildings are included in the Office Building Appraisal and tend to include: ownership of land and improvements, leasehold estates, and condominium ownership.  The different types of owning entities of the individual ownership in Los Angeles include tenancy, partnerships, corporations, and trusts. 

Cost of Office Building Appraisal

Because the Type of Building, the Use of the Building along with its age, configuration and ownership use will all be factors of the LA Office Building Appraisal, it is not easy to arrive at an exact quote of an office building appraisal without gaining more knowledge. Looking for the best real estate office building appraiser in Los Angeles?

 

Best Commercial Real Estate Office Building Appraiser in Los Angeles

Stop searching for the best real estate office building appraiser in Los Angeles, California.

Gary Valentine has been working for over 30 years providing commercial real estate appraisals, expert witness testimony, historical research, legal real estate valuations for banks, lawyers and industrial appraisals for insurance companies.

He also does airport appraisals, pipeline appraisals and valuations for counties involved in eminent domain issues.

Valentine and Associates offer competitive fees.

Plus, he and his team offer quick turn-around time on desk appraisals, drive-by appraisals and full form and narrative appraisals for residential, commercial, industrial property and vacant land.

Call Gary Valentine and Associates el habla español.

Visit our proposal page and submit a proposal for an office building appraisal and one of our team members will get back to you quickly.

 

 

value of avigation easement

Avigation Easement Appraisal

Posted by | Avigation Easement, Easement Appraisals, Land Valuations, Property Tax Appeal, Rental Surveys, Uncategorized | No Comments

An easement is the right a property owner grants to another for a specific use of their property. This right is acquired through purchase or condemnation. An avigation easement is the right a public or private agency acquires to use the airspace above a specific height for the flight of aircraft. And an An “avigation easement appraisal” is done to find out the value of that airspace.

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What is an Avigation Easement?

According to Baker v. Burbank-Glendale-Pasadena Airport Authority (1990) case, an “avigation easement” is required “when the noise, vibration, fumes, fuel particles and inconvenience caused by low-flying aircraft interfere with the use and enjoyment of the underlying property.” So an “avigation easement appraisal is done to find out the general value for the quiet enjoyment of private property owners.

 

What is another purpose of an Avigation Easement Appraisal?

An airport might like to have an “avigation easement appraisal” done over neighboring properties to prevent construction of buildings and towers. An avigation easement appraisal might help in planting of trees, installation of lighting, or any other development that might interfere with takeoff and landing of aircraft. An Avigation Easement Appraisal also protects against liability of any other nuisance such as noise, fumes, and vibration that may interfere with the use and enjoyment of the property.

Height restrictions with an Avigation Easement

In City of Los Angeles v. Japan Air Lines Co., LTD. (1974), the court stated that federal regulations require jets and other large aircraft to be operated at an altitude of at least 1500 feet above terrian, yet currently the County of Orange in Southern California has no height restriction. So each avigation easement appraisal might be different.

Avigation Easement Appraisal Challenges

Noise Levels with an Avigation Easement

In Baker v. Burbank-Glendale-Pasadena Airport Authority (1990) it was determined that noise levels should not exceed 65 decibels.

how to determine value of airspace easement

How to Obtain an Avigation Easement

Although the most common form of obtaining an avigation easement is through purchase or condemnation, avigation easements can be acquired by prescription as well, meaning the rights to the air space can be obtained for free if the air space has been used without complaint from adjacent land owners for at least 5 years in California (15 in Connecticut and 10 in the state of Washington). How much is your airspace worth? That value might be discovered with an avigation easement appraisal.

Other Restrictions for an Avigation Easements

When avigation easements are acquired, there are certain restrictions that can be put into place. Nn Burbank, for example,(City of Burbank v. Lockheed Air Terminal, Inc.) a local ordinance prohibits takeoffs between 11 p.m. and 7 a.m.

How an Avigation Easement ValuationWorks

When valuing an avigation easement, compensation is paid to the land owner for rights to the air space. Compensation for an Avigation Easement is based on the fair market value of the property “before” the avigation easement and “after” the avigation easement. The difference between the “before” and “after” value of the property is the value of the avigation easement.

Valentine Appraisal and Associates  are experts in avigation easement appraisals and has appraised more than ten avigation easements in recent years so feel free to contact us at (661) 288-0198 as we are avigation easement appraisal experts.

Real Estate Appraiser, and Commercial Appraisal / Appraiser Coverage Areas: 93510 Agoura 91301 Agua Dulce, Saugus 91350 Airport Worldway; 90009 Alhambra 91801, 91803 Altadena 91001 Arcadia 91006 91007 ARCO Towers 90071 Arleta 91331 Artesia 90680 Athens 90044 Atwater Village 90039 Avalon 90704 Azusa 91702 Baldwin Hills 90008 Baldwin Park 91706 Bassett 91746 Bel Air Estates 90049. 90077 Bell 90201 Bell Gardens 90201 Bellflower 90706 Beverly Glen ; 90077, 90210 Beverly Hills 90210 – 90212 Biola Univ. (La Mirada) 90639 Boyle Heights 90033 Bradbury 91010 Brentwood 90049 91501 – 91502 / 91506 / 91523 (Glenoaks) 91504 Burbank (Woodbury Univ.) 91510 Cal State Dominguez Hills (Carson) 90747 Cal State Long Beach (Long Beach) 90840 Cal State Northridge 91330 Cal Tech (Pasadena) 91125 – 91126 Calabasas 91302/91372 Canoga Park 91303 – 91304 Canyon Country (Santa Clarita) 91351 Carson 90745 – 90746 Carson (CS Univ. Dominguez Hills) 90747 Carson/ Long Beach 90810Castaic 91310 / 91384 Castellemare 90272 Century City 90067 Cerritos 90701 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 City Terrace 90063 Civic Center 90012 Claremont 91711 Commerce, 90040 Compton 90220 – 90222 Country Club Park 90019 Covina 91722 – 91724 Crenshaw 90008Cudahy 90201 Culver City 90230 / 90232 Cypress Park 90065 Diamond Bar 91765 / 91789 Dominguez Hills, Cal State (Carson) 90747 Downey 90240 – 90242 Downtown Los Angeles ;90013 – 90015 / 90017 / 90021 / 9002 Eagle Rock ;9004East Los Angeles 90022 East Los Angeles 90023 East Rancho Dominguez 90221 Echo Park ;900 Edwards AFB 93523 El Monte 91731 – 91732 El Segundo 9024 El Sereno 90032 Elizabeth Lake 93532 Encino 91316 / 91436 Federal Bldg (Lawndale) 90261 Firestone Boy Scout Res. 92621 Florence 90001 Gardena 90247 – 90249 Glassell Park 90065 Glendale 91201 – 91208 (La Crescenta) 91214 Glendale (Tropico) 91204 – (Verdugo City) 91046 Glendora 91740 – 91741Glenoaks (Burbank) 91504 Granada Hills 91344 Griffith Park 90027 Hacienda Heights (La Puente) 91745 Hancock Park 90004 / 90020 Harbor City 90710 Hawaiian Gardens 90716 Hawthorne (Holly Park) 90250 Hermosa Beach 90254 Hi Vista 93535 Hidden Hills 91302 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Huntington Park 90255 Hyde Park 90043 Industry, 91744 / 91746 / 91789 Inglewood 90301 – 90303, 90305 Irwindale 91706 Jefferson Park 90018 Juniper Hills 93543 Koreatown 90005 La Canada-Flintridge 91011 La Crescenta (Glendale) 91214 La Habra Heights 90631 La Mirada 90638La Mirada (Biola Univ.) 90639 La Puente 91744/91746 Hacienda Heights) 91745 (Rowland Heights) 91748 La Verne 91750 Ladera Heights 90056 Lake Hughes 93532 Lake Los Angeles 93550 / 93591 Lake View Terrace 91342 Lakewood 90712 – 90713 / 90715 Lancaster 93534 – 93536 90260 Lawndale (Federal Bldg) 90261 LAX Area 90045 Leimert Par 90008 Lennox 90304 Littlerock 93543 Llano 93544 Lomita 90717 Long Beach 90802 – 90808, 90813 – 90815, 90822(Cal State Long Beach) 90840 (McDonnell Douglas) 90846 90805 (World Trade Ctr) 90831 – 90832 AIr Port Worldway 90009 ARCO Towers 90071 Arleta 91331 Atwater Village 90039 Bel Air Estates 90049 / 90077 Beverly Glen 90077 / 90210 Boyle Heights 90033 Brentwood 90049Cal State Northridge 91330 Canoga Park 91303 / 91304 Century City 90067 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 Civic Center 90012 Country Club Park 90019 Crenshaw 90008 Cypress Park 90065 Downtown 90013 – 90015 / 90017 / 90021 / 90029 Eagle Rock 90041 East 90023 Echo Park 90026El Sereno 90032 Encino 91316 / 91436 Glassell Park 90065 Granada Hills 91344 Griffith Park 90027 Hancock Park 90004 / 90020 Harbor City 90710 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Hyde Park ;90043 Jefferson Prk 90018 (Koreatown) 90005 (Ladera Heights) 90056 Lake View Terrace 91342(LAX Area) 90045 (Leimert Park) 90008(Los Feliz) 90027 (Mar Vista) 90066 Mid City) 90019 (Mission Hills) 91345 (Montecito Heights) 90031 (Mount Olympus) 90046 (Mt. Washington) 90065 (North Hills) 91343 North Hollywood 91601 – 91602 / 91604 – 91607 Northridge 91324-91325 Pacific Highlands 90272 Pacific Palisades 90272 Pacoima 91331 (Palms) 90034 Panorama City 91402 (Park La Brea) 90036 (Pico Heights) 90006 Playa del Rey) 90293 (Porter Ranch) 91326 (Rancho Park) 90064 Reseda 91335 San Pedro 90731-90732 (Sawtelle) 90022 (Shadow Hills) 91040 Sherman Oaks 91403 / 91423 (Silverlake) 90026 (South Central) 90001 / 90003 /90007 / 90011 / 90037 / 90047 / 90061 – 90062 (Studio City) 91604 Sun Valley 91352 (Sunland) 91040 (Sylmar) 91342 (Tarzana) 91356 (Terminal Island) 90731 (Toluca Lake) 91602 (Tujunga) 91042 (USC) 90089 (Valley Village) 91607 Van Nuys) 91401- 91403 / 91405 – 91406 / 91411 / 91423 (Venice) 90291 (Watts) 90002/90059 (West Adams) 90016 (West Beverly) 90048 (West Fairfax) 90035 West Hills) 91307 (West Los Angeles) 90025 (Westchester) 90045 (Westlake) 90057 Westwood 90024 Wilmington 90744 (Wilshire Blvd) 90010 (Winnetka) 91306(Woodland Hills) 91364 / 91367 Los Feliz 90027 Los Nietos 90606 Lynwood 90262 Malibu 90265 Manhattan Beach 90266 Mar Vista 90066 Marina del Rey 90292 Maywood 90270 McDonnell Douglas 90846 Mid City 90019 Mission Hills 91345 Monrovia 91016 Montebello 90640 Montecito Heights 90031 Monterey Hill 90032 Monterey Park 91754-91756 Montrose 91020 Mount Olympus 90046 Mount Wilson 91023 Mt. Washington 90065 Newhall (Santa Clarita) 91321 North Hills 91343North Hollywood 91601 – 91602 / 91604 – 91607 90805 Northridge 91324 – 91325 Cal State Univ. 91330 Norwalk 90650 Oak Park 91301 Pacific Highlands 9027290272 Pacoima 91331Palmdale 93550 – 93552 / 93591 Palms Palos Verdes Estates 90274 Panorama City 91402 Paramount 90723 Park La Brea 90036 Pasadena 91101 / 91103 – 91107 (Cal Tech) 91125 – 91126 Pearblossom 93553 Phillips Ranch 91766 Pico Heights 90006 Pico Rivera 90660 Playa del Rey 90293Playa Vista 90094 Pomona 91766-91768 Porter Ranch 91326 Quartz Hill 93536 Rancho Dominguez 90220 Rancho Palos Verdes 90275 / 90717 / 90732 Rancho Park 90064 Redondo Beach 90277 – 90278 Reseda 91335 Rolling Hills 90274 Rolling Hills Estates 90274 Rosemead 91770 Rosewood 90222 Rowland Heights (La Puente) 91748 San Dimas 91773 San Fernando 91340 San Gabriel 91775 – 91776 San Marino 91108 San Pedro (0731 – 90733 Santa Clarita (Canyon Country) 91351(Newhall) 91321 Valencia 91354 – 91355.  Again, please feel free to contact us at (661) 288-0198 as we are avigation easement appraisal experts.

Looking to find an Avigation Easement Appraisal Expert: contact Valentine Appraisal & Associates

pipeline appraiser throughout the usa

Pipeline Appraiser Los Angeles

Posted by | Consulting, Mineral Rights, Pipeline Appraiser Los Angeles, Pipeline Appraiser United States, pipeline valuation usa, Pipeline Valuations Los Angeles, Pipelines | No Comments

Valentine & Associates the Premier Pipeline Appraiser Los Angeles County

Valentine & Associates are the premier pipeline appraisers in Los Angeles and throughout the United States. Valentine & Associates are involved in pipelines that transport products from one point to another.

pipeline appraiser san bernardino county

 

Pipeline Appraisals Explained

Pipeline title is usually acquired through an easement. According to Websters, an easement “is the right a property owner grants to another for the use of their property”.

Therefore, a pipeline easement is the right to construct, operate, and maintain a pipeline over the land of others within prescribed geographical limits.

pipeline appraiser throughout the usa

Valentine & Associates offer pipeline appraisal services throughout the United States

How to Appraise a Pipeline Throughout the United States

There are two different ways to appraise a pipeline depending on if it is part of a transportation corridor or within a conforming parcel.

Reviewing published articles and books is one method that helps a Pipeline Appraiser throughout the United States.

Interviewing buyers and sellers of property that is encumbered by pipelines, and sending out letters to property owners is another method that can help a pipeline appraiser in Los Angeles when appraising pipelines.

No Acceptable Standard Width for a Pipeline Easement

According to one expert in pipeline appraisals, there is no acceptable standard width for a pipeline easement. It is usually determined through negotiations. Initially, railroads arrived at the pipeline easement width by rounding up the diameter of the pipe to the nearest foot, then adding two feet on both sides as a buffer to ensure the pipeline’s integrity and security. But, railroads soon realized that pipeline users were getting free access onto their corridors to service and maintain pipelines, so they reasoned that since automobile lanes on public roads are typically 11 to 12-feet wide, and the width of a standard truck is 8 feet 2 ½ inches, a 10 to 12-foot width requirement to access pipelines seemed reasonable.

pipeline appraiser riverside county

pipeline appraiser for Los Angeles county and throughout the United States

Pipeline Easements and Severance Damage

Once the width of the pipeline has been negotiated, and the value has been determined by the pipeline appraiser through research and determining the value of surrounding land, severance damages can be analyzed. Severance damages are those damages to the remainder property that are compensatable. Severance damages are seldom found for new pipelines in transportation corridors because owners of corridors do not let pipeline companies install their pipeline if it could diminish the value of the remaining portion of the corridor and/or pipeline easements.

Final Thoughts by a Los Angeles Pipeline Appraiser

Through advance research and preparation, conducting an in-depth search for best comparable data available, and conducting a thorough analysis, your appraisal of pipeline will be supportive and reliable. You can count on us to have your pipeline appraisal assignment done on time, too.

Sample Pipeline Appraisal assignments completed by Valentine Appraisal and Associates:

• Two Existing Pipelines at the Dominguez Channel in Carson, California

• An Existing Pipeline Traverse Crossing at the BNSF Transportation Corridor in Hesperia, CA

Our Pipeline Appraisal Service Area Cities

Real Estate Appraiser, and Commercial Appraisal / Appraiser Coverage Areas: 93510 Agoura 91301 Agua Dulce, Saugus 91350 Airport Worldway; 90009 Alhambra 91801, 91803 Altadena 91001 Arcadia 91006 91007 ARCO Towers 90071 Arleta 91331 Artesia 90680 Athens 90044 Atwater Village 90039 Avalon 90704 Azusa 91702 Baldwin Hills 90008 Baldwin Park 91706 Bassett 91746 Bel Air Estates 90049. 90077 Bell 90201 Bell Gardens 90201 Bellflower 90706 Beverly Glen ; 90077, 90210 Beverly Hills 90210 – 90212 Biola Univ. (La Mirada) 90639 Boyle Heights 90033 Bradbury 91010 Brentwood 90049 91501 – 91502 / 91506 / 91523 (Glenoaks) 91504 Burbank (Woodbury Univ.) 91510 Cal State Dominguez Hills (Carson) 90747 Cal State Long Beach (Long Beach) 90840 Cal State Northridge 91330 Cal Tech (Pasadena) 91125 – 91126 Calabasas 91302/91372 Canoga Park 91303 – 91304 Canyon Country (Santa Clarita) 91351 Carson 90745 – 90746 Carson (CS Univ. Dominguez Hills) 90747 Carson/ Long Beach 90810Castaic 91310 / 91384 Castellemare 90272 Century City 90067 Cerritos 90701 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 City Terrace 90063 Civic Center 90012 Claremont 91711 Commerce, 90040 Compton 90220 – 90222 Country Club Park 90019 Covina 91722 – 91724 Crenshaw 90008Cudahy 90201 Culver City 90230 / 90232 Cypress Park 90065 Diamond Bar 91765 / 91789 Dominguez Hills, Cal State (Carson) 90747 Downey 90240 – 90242 Downtown Los Angeles ;90013 – 90015 / 90017 / 90021 / 9002 Eagle Rock ;9004East Los Angeles 90022 East Los Angeles 90023 East Rancho Dominguez 90221 Echo Park ;900 Edwards AFB 93523 El Monte 91731 – 91732 El Segundo 9024 El Sereno 90032 Elizabeth Lake 93532 Encino 91316 / 91436 Federal Bldg (Lawndale) 90261 Firestone Boy Scout Res. 92621 Florence 90001 Gardena 90247 – 90249 Glassell Park 90065 Glendale 91201 – 91208 (La Crescenta) 91214 Glendale (Tropico) 91204 – (Verdugo City) 91046 Glendora 91740 – 91741Glenoaks (Burbank) 91504 Granada Hills 91344 Griffith Park 90027 Hacienda Heights (La Puente) 91745 Hancock Park 90004 / 90020 Harbor City 90710 Hawaiian Gardens 90716 Hawthorne (Holly Park) 90250 Hermosa Beach 90254 Hi Vista 93535 Hidden Hills 91302 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Huntington Park 90255 Hyde Park 90043 Industry, 91744 / 91746 / 91789 Inglewood 90301 – 90303, 90305 Irwindale 91706 Jefferson Park 90018 Juniper Hills 93543 Koreatown 90005 La Canada-Flintridge 91011 La Crescenta (Glendale) 91214 La Habra Heights 90631 La Mirada 90638La Mirada (Biola Univ.) 90639 La Puente 91744/91746 Hacienda Heights) 91745 (Rowland Heights) 91748 La Verne 91750 Ladera Heights 90056 Lake Hughes 93532 Lake Los Angeles 93550 / 93591 Lake View Terrace 91342 Lakewood 90712 – 90713 / 90715 Lancaster 93534 – 93536 90260 Lawndale (Federal Bldg) 90261 LAX Area 90045 Leimert Par 90008 Lennox 90304 Littlerock 93543 Llano 93544 Lomita 90717 Long Beach 90802 – 90808, 90813 – 90815, 90822(Cal State Long Beach) 90840 (McDonnell Douglas) 90846 90805 (World Trade Ctr) 90831 – 90832 AIr Port Worldway 90009 ARCO Towers 90071 Arleta 91331 Atwater Village 90039 Bel Air Estates 90049 / 90077 Beverly Glen 90077 / 90210 Boyle Heights 90033 Brentwood 90049Cal State Northridge 91330 Canoga Park 91303 / 91304 Century City 90067 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 Civic Center 90012 Country Club Park 90019 Crenshaw 90008 Cypress Park 90065 Downtown 90013 – 90015 / 90017 / 90021 / 90029 Eagle Rock 90041 East 90023 Echo Park 90026El Sereno 90032 Encino 91316 / 91436 Glassell Park 90065 Granada Hills 91344 Griffith Park 90027 Hancock Park 90004 / 90020 Harbor City 90710 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Hyde Park ;90043 Jefferson Prk 90018 (Koreatown) 90005 (Ladera Heights) 90056 Lake View Terrace 91342(LAX Area) 90045 (Leimert Park) 90008(Los Feliz) 90027 (Mar Vista) 90066 Mid City) 90019 (Mission Hills) 91345 (Montecito Heights) 90031 (Mount Olympus) 90046 (Mt. Washington) 90065 (North Hills) 91343 North Hollywood 91601 – 91602 / 91604 – 91607 Northridge 91324-91325 Pacific Highlands 90272 Pacific Palisades 90272 Pacoima 91331 (Palms) 90034 Panorama City 91402 (Park La Brea) 90036 (Pico Heights) 90006 Playa del Rey) 90293 (Porter Ranch) 91326 (Rancho Park) 90064 Reseda 91335 San Pedro 90731-90732 (Sawtelle) 90022 (Shadow Hills) 91040 Sherman Oaks 91403 / 91423 (Silverlake) 90026 (South Central) 90001 / 90003 /90007 / 90011 / 90037 / 90047 / 90061 – 90062 (Studio City) 91604 Sun Valley 91352 (Sunland) 91040 (Sylmar) 91342 (Tarzana) 91356 (Terminal Island) 90731 (Toluca Lake) 91602 (Tujunga) 91042 (USC) 90089 (Valley Village) 91607 Van Nuys) 91401- 91403 / 91405 – 91406 / 91411 / 91423 (Venice) 90291 (Watts) 90002/90059 (West Adams) 90016 (West Beverly) 90048 (West Fairfax) 90035 West Hills) 91307 (West Los Angeles) 90025 (Westchester) 90045 (Westlake) 90057 Westwood 90024 Wilmington 90744 (Wilshire Blvd) 90010 (Winnetka) 91306(Woodland Hills) 91364 / 91367 Los Feliz 90027 Los Nietos 90606 Lynwood 90262 Malibu 90265 Manhattan Beach 90266 Mar Vista 90066 Marina del Rey 90292 Maywood 90270 McDonnell Douglas 90846 Mid City 90019 Mission Hills 91345 Monrovia 91016 Montebello 90640 Montecito Heights 90031 Monterey Hill 90032 Monterey Park 91754-91756 Montrose 91020 Mount Olympus 90046 Mount Wilson 91023 Mt. Washington 90065 Newhall (Santa Clarita) 91321 North Hills 91343North Hollywood 91601 – 91602 / 91604 – 91607 90805 Northridge 91324 – 91325 Cal State Univ. 91330 Norwalk 90650 Oak Park 91301 Pacific Highlands 9027290272 Pacoima 91331Palmdale 93550 – 93552 / 93591 Palms Palos Verdes Estates 90274 Panorama City 91402 Paramount 90723 Park La Brea 90036 Pasadena 91101 / 91103 – 91107 (Cal Tech) 91125 – 91126 Pearblossom 93553 Phillips Ranch 91766 Pico Heights 90006 Pico Rivera 90660 Playa del Rey 90293Playa Vista 90094 Pomona 91766-91768 Porter Ranch 91326 Quartz Hill 93536 Rancho Dominguez 90220 Rancho Palos Verdes 90275 / 90717 / 90732 Rancho Park 90064 Redondo Beach 90277 – 90278 Reseda 91335 Rolling Hills 90274 Rolling Hills Estates 90274 Rosemead 91770 Rosewood 90222 Rowland Heights (La Puente) 91748 San Dimas 91773 San Fernando 91340 San Gabriel 91775 – 91776 San Marino 91108 San Pedro (0731 – 90733 Santa Clarita (Canyon Country) 91351(Newhall) 91321 Valencia 91354 – 91355

Appraisal of Self-Storage Facilities

Posted by | Appraisal Reviews, Appraisal Services, Consulting, Convenience Store Appraisal, Convenience Stores, Industrial, Insurable Value, Office Buildings, Partnership Dissolution, Self-Storage Facilities, Sports facility appraisal | No Comments
Self storage appraisals

Self Storage Facility Appraisal

Self Storage Facility Appraisals

The need to appraise self storage facilities has become increasingly more evident because people are using self-storage facilities more than ever. The 2000 US Census, for example, reported that the United States population was approximately 281.5 million and at the same time, the total amount of US self-storage was estimated to be approximately 1.3 million square feet. 

This indicates that there were approximately 4.62 sq. ft. of self-storage space for every person in the United States.  Compare this to the United States population in 1960.  There were 180.6 million people and an estimated storage supply of only 180 million square feet, or approximately 1 rentable square foot of self-storage per person.  According to these statistics, the amount of self storage space in the United States has quadrupled in the last 40 years. The three states that have the most selfstorage spaceFlorida, Texas, and California—are in the Sun Belt. However, as a result of the recent economic recession, we are now experiencing an oversupply of self-storage space throughout the country. 

 

Self-storage appraisal expert Gary Valentine

Self-Storage Unit Facility Appraisals Explained

 

In order to effectively appraise a proposed or existing self-storage facility, a market analysis is necessary to analyze how the market interacts with a specific property.  Performances in the past, present, and future impact the value of a specific property, and these market trends are always changing.  The analysis starts by defining the market area and identifying who the competitors are.  The existence of competitive properties helps to demonstrate demand trends.  Potential demands can be quantified using demographic statistics meshed with industrial ratios such as total rentable square feet per person.  Most self-storage appraisals tend to be rich in value analysis and weak in market analysis.  This is not the case in our appraisal reports. 

After determining the subjects’ highest and best use as a self-storage facility, a commercial real estate appraisal of self-storage facility will utilize the three traditional approaches of value including:

  1. the Cost Approach
  2. Income Approach
  3. and the Sales Comparison Approach

Finally, before arriving at a reconciliation of value, Valentine Appraisal & Associates the best self-storage appraisals will include a complete and detailed market analysis to ensure a complete and thorough commercial property valuation. To obtain a self-storage facility appraisal, please contact Gary Valentine or visit our proposal page and be sure to enter any outstanding details necessary for your self-storage facility appraisal.

 

Transportation Corridors

Posted by | Conservation Easement, Consulting, Diminution in Value, Easements, Eminent Domain, Industrial, Land Valuations, Litigation support, Market Studies, Mineral Rights, Subdivision Analysis, Transportation Corridors | No Comments

 

Appraising Transportation Corridors

A transportation corridor is a long, narrow strip of property that includes surface, subsurface, and air rights. It often connects two or more areas restricted to surface, subsurface, and air rights, for the deportation of goods and passengers.

Some examples of transportation corridors are: railroad and mass transit lines, public and private roads, pipelines, including oil, gas, water, and sewer lines, fiber optics, pedestrians pathways, aqueducts and canals, television cables, and electrical transmission lines. 

There are different methods that can be used when appraising a transportation corridor, including Replacement Cost New Less Depreciation (RCNLD), Corridor Value (CV), Sales Comparison Approach, Across the Fence Value (ATF), Net Liquidation Value (NLV), and Going Concern Value (GCV). [1]

Common Method of Appraising Transportation Corridors

Replacement Cost New Less Depreciation (RCNLD) is based on the principle of substitution and is more commonly referred to as the “cost of assemblage.”  It includes the cost of the part taken, appraisal costs, negations costs, title costs, grading costs, project management costs, and the acquisition and demolition of buildings.  According to Dolman and Seymour, this cost can range from two to six times the Across the Fence (ATF) value.  The Court of Appeals in People v. Southern Pacific Transportation Company (1978) held that “the cost of reproduction is an acceptable approach to a determination of just compensation.”

When several similar commensurate commodities, goods or services are available, the one with the lowest price attracts the greatest demand and the widest distribution.   Corridor Value (CV) is determined by multiplying the ATF value and the enhancement factor.  The enhancement factor is arrived at by dividing the sales price of a corridor by its ATF value.

Alternate Approaches to Value for Appraising Transportation Corridors

Sales Comparison Approach is applicable when there are several sales or comparables that have sold in the subject’s market area.  This approach is seldom used since there are relatively few transactions of transportation corridors that sell in the same market area.

The underlying assumption in the Across the Fence (ATF) method is that land in the transportation corridor is equal to the value of adjoining lands.  When using this method, the property is divided down the centerline and each half is joined to the adjacent parcel along with the adjacent property’s highest and best use and unit value.  The ATF is the sales comparison approach modified to the degree that shape, size, topography, and access are disregarded.  The State Board of Equalization, railroad companies, utility companies and public agencies use this method more than others when assessing value of operating and non-operating property, ground rent, and public and private streets.

The Net Liquidation Value (NLV) is the present value of the net amount the owner will realize if the corridor is sold piecemeal over a reasonable time period.  Net proceeds are determined after administrative, marketing, real estate taxes, and cleanup costs are deducted from the gross revenues. 

The Going Concern Value (GCV) is the expected future profits discounted to today’s value at a rate reflecting the quantity, quality, and durability of the income.

Appraising Transportation Corridors A Final Thought

Appraising transportation corridors is a challenging endeavor, but can be accomplished by using one or more of the methods outlined above.

Valentine Appraisal and Associates Has Successfully Completed Several Transportation Corridor valuation assignments:

  • Lower Franklin Reservoir Property in City of Los Angeles, CA
  • An Existing Pipeline Traverse Crossing at the BNSF Transportation Corridor in Hesperia, CA
  • 1.9 Mile 50-foot wide Right of Way Corridor in Riverside County, CA
  • 80.48 Mile Transportation Corridor in Siskiyou and Shasta Counties, CA

Palmdale Commercial Building Appraisals

Avigation Easements

Pipeline Easements

Visit Valentine Appraisal and Associates

 [1] Valentine, Gary S. “Appraising a Transportation Corridor.”  Right of Way Nov-Dec. 1998: 6-10.

Our Service Area Cities
Real Estate Appraiser, and Commercial Appraisal / Appraiser Coverage Areas: 93510 Agoura 91301 Agua Dulce, Saugus
91350 Airport Worldway; 90009 Alhambra 91801, 91803 Altadena 91001 Arcadia 91006 91007 ARCO Towers 90071 Arleta
91331 Artesia 90680 Athens 90044 Atwater Village 90039 Avalon 90704 Azusa 91702 Baldwin Hills 90008 Baldwin Park
91706 Bassett 91746 Bel Air Estates 90049. 90077 Bell 90201 Bell Gardens 90201 Bellflower 90706 Beverly Glen ;
90077, 90210 Beverly Hills 90210 – 90212 Biola Univ. (La Mirada) 90639 Boyle Heights 90033 Bradbury 91010 Brentwood
90049 91501 – 91502 / 91506 / 91523 (Glenoaks) 91504 Burbank (Woodbury Univ.) 91510 Cal State Dominguez Hills
(Carson) 90747 Cal State Long Beach (Long Beach) 90840 Cal State Northridge 91330 Cal Tech (Pasadena) 91125 – 91126
Calabasas 91302/91372 Canoga Park 91303 – 91304 Canyon Country (Santa Clarita) 91351 Carson 90745 – 90746 Carson
(CS Univ. Dominguez Hills) 90747 Carson/ Long Beach 90810Castaic 91310 / 91384 Castellemare 90272 Century City
90067 Cerritos 90701 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 City Terrace 90063 Civic Center 90012
Claremont 91711 Commerce, 90040 Compton 90220 – 90222 Country Club Park 90019 Covina 91722 – 91724 Crenshaw
90008Cudahy 90201 Culver City 90230 / 90232 Cypress Park 90065 Diamond Bar 91765 / 91789 Dominguez Hills, Cal State
(Carson) 90747 Downey 90240 – 90242 Downtown Los Angeles ;90013 – 90015 / 90017 / 90021 / 9002 Eagle Rock ;9004East
Los Angeles 90022 East Los Angeles 90023 East Rancho Dominguez 90221 Echo Park ;900 Edwards AFB 93523 El Monte
91731 – 91732 El Segundo 9024 El Sereno 90032 Elizabeth Lake 93532 Encino 91316 / 91436 Federal Bldg (Lawndale)
90261 Firestone Boy Scout Res. 92621 Florence 90001 Gardena 90247 – 90249 Glassell Park 90065 Glendale 91201 –
91208 (La Crescenta) 91214 Glendale (Tropico) 91204 – (Verdugo City) 91046 Glendora 91740 – 91741Glenoaks (Burbank)
91504 Granada Hills 91344 Griffith Park 90027 Hacienda Heights (La Puente) 91745 Hancock Park 90004 / 90020 Harbor
City 90710 Hawaiian Gardens 90716 Hawthorne (Holly Park) 90250 Hermosa Beach 90254 Hi Vista 93535 Hidden Hills
91302 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Huntington Park 90255 Hyde Park 90043 Industry, 91744 /
91746 / 91789 Inglewood 90301 – 90303, 90305 Irwindale 91706 Jefferson Park 90018 Juniper Hills 93543 Koreatown
90005 La Canada-Flintridge 91011 La Crescenta (Glendale) 91214 La Habra Heights 90631 La Mirada 90638La Mirada
(Biola Univ.) 90639 La Puente 91744/91746 Hacienda Heights) 91745 (Rowland Heights) 91748 La Verne 91750 Ladera
Heights 90056 Lake Hughes 93532 Lake Los Angeles 93550 / 93591 Lake View Terrace 91342 Lakewood 90712 – 90713 /
90715 Lancaster 93534 – 93536 90260 Lawndale (Federal Bldg) 90261 LAX Area 90045 Leimert Par 90008 Lennox 90304
Littlerock 93543 Llano 93544 Lomita 90717 Long Beach 90802 – 90808, 90813 – 90815, 90822(Cal State Long Beach)
90840 (McDonnell Douglas) 90846 90805 (World Trade Ctr) 90831 – 90832 AIr Port Worldway 90009 ARCO Towers 90071
Arleta 91331 Atwater Village 90039 Bel Air Estates 90049 / 90077 Beverly Glen 90077 / 90210 Boyle Heights 90033
Brentwood 90049Cal State Northridge 91330 Canoga Park 91303 / 91304 Century City 90067 Chatsworth 91311 Cheviot
Hills 90064 Chinatown 90012 Civic Center 90012 Country Club Park 90019 Crenshaw 90008 Cypress Park 90065 Downtown

90013 – 90015 / 90017 / 90021 / 90029 Eagle Rock 90041 East 90023 Echo Park 90026El Sereno 90032 Encino 91316 /
91436 Glassell Park 90065 Granada Hills 91344 Griffith Park 90027 Hancock Park 90004 / 90020 Harbor City 90710
Highland Park 90042 Hollywood 90028 / 90038 / 90068 Hyde Park ;90043 Jefferson Prk 90018 (Koreatown) 90005 (Ladera
Heights) 90056 Lake View Terrace 91342(LAX Area) 90045 (Leimert Park) 90008(Los Feliz) 90027 (Mar Vista) 90066 Mid
City) 90019 (Mission Hills) 91345 (Montecito Heights) 90031 (Mount Olympus) 90046 (Mt. Washington) 90065 (North
Hills) 91343 North Hollywood 91601 – 91602 / 91604 – 91607 Northridge 91324-91325 Pacific Highlands 90272 Pacific
Palisades 90272 Pacoima 91331 (Palms) 90034 Panorama City 91402 (Park La Brea) 90036 (Pico Heights) 90006 Playa del
Rey) 90293 (Porter Ranch) 91326 (Rancho Park) 90064 Reseda 91335 San Pedro 90731-90732 (Sawtelle) 90022 (Shadow
Hills) 91040 Sherman Oaks 91403 / 91423 (Silverlake) 90026 (South Central) 90001 / 90003 /90007 / 90011 / 90037 /
90047 / 90061 – 90062 (Studio City) 91604 Sun Valley 91352 (Sunland) 91040 (Sylmar) 91342 (Tarzana) 91356 (Terminal
Island) 90731 (Toluca Lake) 91602 (Tujunga) 91042 (USC) 90089 (Valley Village) 91607 Van Nuys) 91401- 91403 / 91405
– 91406 / 91411 / 91423 (Venice) 90291 (Watts) 90002/90059 (West Adams) 90016 (West Beverly) 90048 (West Fairfax)
90035 West Hills) 91307 (West Los Angeles) 90025 (Westchester) 90045 (Westlake) 90057 Westwood 90024 Wilmington
90744 (Wilshire Blvd) 90010 (Winnetka) 91306(Woodland Hills) 91364 / 91367 Los Feliz 90027 Los Nietos 90606 Lynwood
90262 Malibu 90265 Manhattan Beach 90266 Mar Vista 90066 Marina del Rey 90292 Maywood 90270 McDonnell Douglas 90846
Mid City 90019 Mission Hills 91345 Monrovia 91016 Montebello 90640 Montecito Heights 90031 Monterey Hill 90032
Monterey Park 91754-91756 Montrose 91020 Mount Olympus 90046 Mount Wilson 91023 Mt. Washington 90065 Newhall (Santa
Clarita) 91321 North Hills 91343North Hollywood 91601 – 91602 / 91604 – 91607 90805 Northridge 91324 – 91325 Cal
State Univ. 91330 Norwalk 90650 Oak Park 91301 Pacific Highlands 9027290272 Pacoima 91331Palmdale 93550 – 93552 /
93591 Palms Palos Verdes Estates 90274 Panorama City 91402 Paramount 90723 Park La Brea 90036 Pasadena 91101 /
91103 – 91107 (Cal Tech) 91125 – 91126 Pearblossom 93553 Phillips Ranch 91766 Pico Heights 90006 Pico Rivera 90660
Playa del Rey 90293Playa Vista 90094 Pomona 91766-91768 Porter Ranch 91326 Quartz Hill 93536 Rancho Dominguez 90220
Rancho Palos Verdes 90275 / 90717 / 90732 Rancho Park 90064 Redondo Beach 90277 – 90278 Reseda 91335 Rolling Hills
90274 Rolling Hills Estates 90274 Rosemead 91770 Rosewood 90222 Rowland Heights (La Puente) 91748 San Dimas 91773
San Fernando 91340 San Gabriel 91775 – 91776 San Marino 91108 San Pedro (0731 – 90733 Santa Clarita (Canyon
Country) 91351(Newhall) 91321 Valencia 91354 – 91355

 

 


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Service Station/Carwash Appraisals

Posted by | Service Stations | No Comments
convenience store appraisal expert

Looking for a car wash appraisal?

How is it that CAR WASH APPRAISER #1 claims a fair market value of $230,000 while CAR WASH APPRAISER #2  states the place is worth $120,000?

How can (in 2014) an independent Car Wash property (in Palmdale, CA) be valued for $67,000 when it sold four years earlier for $256,000? An SBA loan was used to finance the $256,000 purchase so the lender required the buyer to pay for a commercial Carwash appraisal, right?

Gary Valentine, an expert of Service Station and Carwash appraisals can help answer these perplexing questions. To get an expert valuation of your carwash operation or convenience store, please contact Gary Valentine at (661) 288-0198 or shoot him an email: Email: gsv@valentineappraisal.com.

cars and other motor vehicles.

(http://www.answers.com/topic/filling-station)

Right of Way Appraisals

Posted by | Appraisal Services, Right of Way Appraisals, Right of Way Valuation | No Comments

valuation of right of way easement

Valentine Appraisal & Associates provides a wide array of right of way appraisal and Right of Way consultant services because experience shows you may find you will need MORE DATA on your right of way project than you might think. We provide the following Right of Way Appraisal Services:

Right of Way Market studies
Expert Testimony for right of way
Impact reports
Expert Right of Way appraisals
Support for Pretrial and Litigation
Right of way Appraisal Review
Related Right of Way Advisory Services

Right of Way Industries

Oil and Gas Pipeline
Electrical Transmission and Utilities
Transportation and Public Works
Valentine Appraisal & Associates provides assistance at any stage of a right of way project. Our msision is to provide you with practical right of way appraisal solutions to make the right of way acquisition process as problem free as possible.

Valentine Appraisal & Associates Right of Way Valuation Expertise

Why Hire Valentine Appraisal & Associates for Your Right of Way Situation?

Expert Real Estate Appraisal team
Proven data management and technology solutions
Thorough Right of Way review process
Delivery time frame customized to meet the needs of our clients
Supportable Conclusions of Value
Call Valentine Appraisal & Associates

Request a Proposal Click Here

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