Integra – San Diego Appraises Industrial Property, San Diego

2016-0040picIRR-San Diego recently  completed the appraisal of a single tenant industrial warehouse property consisting of 64,160 SF gross leaseable building area, on 3.91 acres, built in 1987. The site is 100% occupied by a single tenant. The purpose of the valuation was for loan underwriting.

 

IRR-San Diego Appraises 146-room Resort Hotel, Carlsbad, CA

Integra-San Diego recently valued the going concern interest of a hotel resort property, consisting of 70,833 SF gross leaseable area on 5.75 acres. The property has 146 rooms, was built in 1981 and renovated in 2010. The purpose of the appraisal was for portfolio management.

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Integra – San Diego Appraises Conference Center, San Diego

IRR – San Diego recently appraised the sandwich leasehold interest of a meeting/conference center, containing 32,907 square feet of rentable area.
The improvements were constructed in 1993 and are 100% leased as of the effective appraisal date. The site area is 2.41 acres. The appraisal was completed for the purpose of making ownership management decisions.

 

 

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Integra-San Diego Appraises Class A Office Building

Integra – San Diego appraised an existing office property containing 276,578 square feet of rentable area. The improvements were constructed in 1997 and were 100% leased as of the effective appraisal date. The site area is 17.26 acres. This appraisal was completed for financing purposes for an insurance company client.

 

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Integra – San Diego Appraises Agricultural Land

Integra – San Diego recently appraised over 1,100 acres of agricultural land, which included farmland and feedlots, as well as subsurface mineral rights and geothermal steam rights. The portfolio was valued on behalf of a family trust, for estate planning purposes.

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IRR – San Diego Hospitality Valuation Group

In the first 6 months of 2016, IRR-San Diego’s Hospitality Valuation Group has completed 40 hospitality appraisal assignments, ranging from small, independently owned bed & breakfast motels, to full service, major chain luxury hotels. These 40 appraisal assignments have a combined real estate value of over $282 million, and a combined gross building area of 1.7 million square feet. The hotels were located throughout San Diego, Orange and Los Angeles counties, and other California locations, including Fresno, Santa Barbara and Santa Cruz. IRR-San Diego’s principal and Sr. Managing Director, Jeff Greenwald, MAI, SRA, ASA, AI-GRS, FRICS, is also licensed in Washington, Oregon, Arizona, Texas, New Mexico, and Georgia. Several of the 40 appraisal assignments completed were located in those states.

For further information on IRR-San Diego’s Hospitality Valuation Group or a copy of their brochure, please email sandiego@irr.com.

 

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Integra – San Diego Appraises Real Estate Trust Portfolio Valued at Over $100,000,000

Integra Realty Resources – San Diego has just completed the appraisal of 20 properties for estate tax purposes with a combined real estate value of over $100,000,000.  The properties, located in and around San Diego county consisted of 6 multi-tenant retail properties, 4 industrial properties and 1 industrial business park, 2 multi-tenant office properties, 1 medical office, 3 multi-family properties, and 2 hotel properties, with a combined square footage of over 500,000 SF.

 

Office Property - 6,500+ SF Rentable Area

Office Property – 6,500+ SF Rentable Area

73,000 SF Rentable Area on 4.30 Acres

73,000 SF Rentable Area on 4.30 Acres

 

66,416 SF Rentable Area - Part of 20 Property Trust Portfolio

66,416 SF Rentable Area – Part of 20 Property Trust Portfolio

 

Integra – San Diego Appraises El Cajon Retail Center

Integra – San Diego has completed an appraisal of a 68,000 SF neighborhood retail center in El Cajon. The property is located on 5.76 acres, and includes 3 buildings, one of which is a Big Box retailer.  This property was 96% leased as of the effective appraisal date. The client wanted to estimate the property’s value assuming a hypothetical subdividing/remapping of the existing site, creating two newly created land pads.  The appraisal was completed for a financial services firm on behalf of a national financial institution.

Integra – San Diego Appraises Downtown Office High-Rise

Integra – San Diego has just completed the appraisal of a 22 story multi-tenant, high-rise office tower property in downtown San Diego. The entire building,  including the ground-floor retail, and basement consists of 447,164 SF. The appraisal report was completed for a financial institution.

Class B Multi-Tenant Office High-Rise

Class B Multi-Tenant Office High-Rise Containing 448,000 SF Rentable Area

 

Industrial Flex Property, Vista – Valuation by Integra – San Diego

Integra – San Diego recently completed an appraisal of the leased fee interest of an industrial property containing 76,988 SF of rentable area. The property was 100% leased at the time of the appraisal. Site area is 4.18 acres. This appraisal was completed for loan underwriting purposes for a financial institution

Integra – San Diego Appraises Existing Multi-Tenant Office Tower, San Diego

IRR-San Diego recently performed a market value appraisal of the leased fee interest in an office tower property containing 232,000+ SF rentable area, located on a site of .69 acres, in downtown San Diego. This appraisal was performed for loan underwriting purposes for a financial institution.

Integra – San Diego Appraises Major Hotel Chain Property

IRR-San Diego recently valued market value as is of the total assets of the business (MVTAB). This was a fee simple/leasehold interest, a going concern interest, specifically excluding monetary assets of cash and inventory of a 395-room full service hotel, with a site area of 10.41 acres, located adjacent to a major regional international airport. The appraisal was done for internal valuation purposes prior to a potential sale.

Regents La Jolla Multi-Family Property Appraised by Integra – San Diego

The subject property consists of 333 individual condominium units within a 574‐unit development known as Regents La Jolla. The 333 subject units are currently operated (rented) as luxury apartments. The improvements were constructed in 1999/2000 and a condominium map was recorded in 2005. 241 of the units in the project were sold as individual condominium units and were not included in this appraisal. The site area (for the
entire 574‐unit development) is 8.49 acres or 369,824 square feet. We valued the subject on an as is leased fee (rental) basis, as well as on a bulk basis assuming condominium sell‐out. 235 of the 333 units have been upgraded with superior quality interiors since the date of original construction. Appraisal done for a financial institution.Photo

Integra – San Diego Appraises Aventine Office Building

DSCN7288Integra – San Diego appraised the Aventine, an existing multi‐tenant office and retail property containing 239,949 square feet of rentable area. The improvements were constructed in 1990 and are 91% leased as of the effective appraisal date. The site area is 6.48 acres or 282,269 square feet. The property was in escrow at the time of the appraisal. Integra – San Diego provided valuation, and  also provided the allocated values of the retail component (including retail garage) and the office component (including office garage) of the subject property. We also developed an opinion of the prospective stabilized market value of the leased fee interest in the property, as of the prospective date of value in 2016.

 

Restaurant and Parking Lot Appraisal, San Diego Beach Community

Integra San Diego recently completed an appraisal consisting of an existing restaurant property of approximately 2,600 square feet of gross leasable area, on 0.06 acres, or 2,700 Square feet, and a parking lot that is non-contiguous, located approximately 2 blocks away from the restaurant. The parking lot site area is approximately 0.06 acres or 2,748 square feet. The client requested that the two properties be valued separately. The subject properties were in escrow at the time of the appraisal. Both the Sales Comparison Approach and the Income Capitalization Approach were used in this valuation. The purpose of this appraisal was for lending purposes with a financial services institution.

School Property Appraisal

School-Property-Appraisal-San-DiegoIntegra San Diego has completed a commercial appraisal of a school property located in Kearny Mesa area of the City of San Diego. The building is approximately 49,500 square feet and is located on a 2.77 acre site. Originally constructed as an industrial building in 1985, the improvements were remodeled as a school in the early 1990’s. As such, the building includes classrooms, multi-purpose rooms and a kitchen.  The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you have any needs or questions regarding an appraisal of a school, please contact us today at 858-259-4900 or sandiego@irr.com.

Service Station/Convenience Store Appraisal

Gas-Station-Appraisal-San-DiegoIRR San Diego has completed a commercial appraisal of a service station property located in the Del Mar Heights community of the city of San Diego. The property also includes a convenience store. Overall, the property has 1,930 square feet of gross leasable area; the convenience store is about 770 square feet, and there is an existing service bay area that is approximately 1,160 square feet. The improvements were constructed in 1971, are 100% owner-occupied as of the effective appraisal date, and are situated on a 0.71 acre site. The purpose of this commercial valuation was for loan underwriting purposes for a lender and included valuing the property’s going concern. This valuation also included a prospective market value appraisal as the subject is scheduled to be renovated to include a car wash.

If you have any questions or needs for a service station appraisal, please contact us today at 858-259-4900 or sandiego@irr.com.

Office Condo Appraisal in Carlsbad

office-condo-appraisal-carlsbadIntegra San Diego has completed a commercial appraisal of an office condominium property located in Carlsbad in San Diego County. The property consists of two existing, contigous units totaling about 2,550 square feet of rentable area. The improvements were constructed in 2006 and were 100% occupied by a single tenant as of the effective appraisal date. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

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Service Station/C-Store/Carwash Appraisal

Going-Concern-Appraisal-CardiffIRR San Diego has completed a commercial appraisal of a retail property located in Cardiff-By-The-Sea (Encinitas) in San Diego County. The property consists of a service station (gas station), fast food retail space, and a carwash totaling about 4,900 square feet. Built in 1970, the improvements were later expanded and renovated in 2007. The site area is 0.73 acres on two parcels, with one of the parcels encumbered with a ground lease. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

This assignment involved a valuation of the market value of the going concern, which includes the real estate (e.g. land, building, site improvements, etc.); furniture, fixtures, and equipment necessary to operate the businesses; and business value (which includes items such as goodwill). Both Jeff Greenwald and Eric Schneider are both qualified sources for going concern properties as they have earned the ASA designation from the American Society of Appraisers.

If you have any questions regarding the appraisal of service stations, carwash properties, or other going concern properties, please contact us today at 858-259-4900 or sandiego@irr.com.

Apartment Property Appraisal in San Diego

san-diego-apartment-appraiserIRR San Diego has completed a commercial appraisal of a multifamily property located in North Park community of San Diego. The property is an existing apartment building containing 10 dwelling units. Built in 1967 and totaling 7,050 square feet of rentable area, the property is 100% leased as of the effective appraisal date. The building is located on a 0.16 acre site. As with many older projects in San Diego, the property is determined to be legally nonconforming with respect to current zoning regulations, including street frontage, density, floor area ratio, and parking. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you have any questions or needs regarding an apartment appraisal, please contact us today at 858-259-4900 or sandiego@irr.com.

 

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