Appraisal of Religious Facility – Oceanside, CA

IRR San Diego recently appraised an existing religious facility consisting of 2 parcels, totaling 18.44 acres. One of the parcels was in escrow to be sold and determined to be excess land. The second parcel is 100% occupied by a third party tenant. Due to the short term nature of the lease, with no options to renew, our value conclusions included the contributory value of the remaining rent without a present value discount. The two parcels were valued separately. The appraisal was done for a federal bank’s portfolio management.

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