2015 Mid-Year Viewpoint

Hotel-Appraisal-858-259-4900Integra Realty Resources – San Diego, along with its 60+ offices nationwide, has again published mid-year updates to our annual Viewpoint publication – with both a National Overview and over 300 Local Market reports.

The San Diego commercial real estate market, as well as markets across the country, continues exhibiting improving market conditions for all major property types, including office, multifamily, retail, industrial, and lodging.

For a complete look at the data presented in IRR Mid-Year Viewpoint 2015, please click on the links below.

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San Diego Leasing Trends – Midyear Viewpoint Preview

Based on our research, market conditions are expected to improve across all property types in San Diego. The following charts detail current rental and vacancy rates for office, retail and industrial property types in San Diego in comparison with the rest of the region and the United States. Following these current snapshots is a 12-month forecast of the change in market rent, the amount of square feet absorbed, the amount of construction completed, and the estimated allowance for tenant improvements.

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Preview of IRR Mid-Year Viewpoint

trends_san_diego_mid_year_review_2015On July 15, Integra Realty Resources will be publishing their mid-year Viewpoint publication, a comprehensive analysis of over 60 markets across the United States and the Caribbean. Compiled by MAI-designated appraisers, this update highlights local trends, cap rates, rental information, and other important commercial real estate data.

The following excerpts highlight trends for the office, industrial, and retail markets in San Diego.

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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.

 

Golden Hill Real Estate Appraisal

Golden-Hill-Real-Estate-AppraiserIRR San Diego has completed a commercial appraisal of an industrial property located in the community of Golden Hill in San Diego. The building is approximately 8,200 square feet and is located on a 0.46 acre site. Constructed in the 1960’s, the property is 100% occupied by the property owner. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

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Apartment Appraisal in Pacific Beach, San Diego

Pacific-Beach-Apartment-Appraisal-Crown-Point-San-DiegoIRR San Diego has completed a commercial appraisal of an apartment property located in the community of Pacific Beach in San Diego. This multifamily property consists of five dwelling units built in 1970. The building, which is three stories and has approximately 4,020 square feet of rentable area, is located on a 0.08 acre site. The property also has five covered parking spaces, five storage units, and a laundry facility. As of the effective appraisal date, the property is 100% leased. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you are in need of a multifamily appraisal, please contact us today at 858.259.4900 or via email at sandiego@irr.com. Also, for market trends on San Diego apartment properties, we invite you to download the latest publication of Viewpoint, the most comprehensive analysis for 2015.

2015 Viewpoint – San Diego Market Update

Hotel-Appraisal-858-259-4900We are pleased to present copies of our recently released IRR Viewpoint 2015, Integra Realty Resources’ signature publication.  In this annual edition, we provide market value trends for investment-grade real estate across the San Diego market. Read More

The Top Commercial Real Estate Appraisal Designations (and What They Mean to You)

There are dozens and dozens of designations related to the real estate field. In fact, after a quick search on the National Association of Realtor’s website,  we found over 20 designations listed for a variety of specialties. The real estate appraisal field has several designations, as well; however, it can be confusing to understand what these designations mean and (more importantly) how can they help you decide which appraiser to choose.

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