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.

2016-0460pic

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.

 

Photo

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.

Read More

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.

Read More

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.

Read More

Jeff Rice Joins IRR San Diego

Hotel-Appraisal-858-259-4900We are pleased to announce that Jeffrey Rice has joined IRR San Diego as our newest analyst! Read More

Jeff Greenwald earns AI-GRS Designation

best san diego appraiserJeff Greenwald, Principal and Senior Managing Director of IRR San Diego, has recently earned the AI-GRS designation from the Appraisal Institute. According to the website, the AI-GRS membership designation is held by appraisers who are experienced in general appraisal review. To become an AI-GRS member of the Appraisal Institute, an individual must: Read More

San Diego Construction Costs: 2015 and Beyond

San-Diego-Construction
As construction in San Diego increases across all sectors, so too does the cost of construction. The following data from Marshall Valuation Service, provider of building cost valuation data, summarizes how the average building cost per square foot has changed over the past five years for three property types: Class A office (glass and steel construction), Class B distribution warehouse (concrete tilt-up construction), and Class C retail store (masonry construction).

Read More

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.

The Hottest Industrial Submarkets in San Diego County

Warehouse-Industrial-Appraisal-San-DiegoWith strong fundamentals expected to help the industrial market along, we review San Diego County submarkets to see which areas are most in demand. The following show which submarket has the highest rental rate, the lowest vacancy rate, and the most positive absorption numbers for all industrial property types, including warehouse and flex space.

Read More

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.

Read More

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.

Read More

Industrial Business Park Appraisal in Miramar

Industrial-Property-Appraiser-San-DiegoIntegra Realty Resources – San Diego has completed a commercial appraisal of an industrial business park property located in the community of Miramar in San Diego. The property consists of two industrial buildings, one that is approximately 23,500 square feet and the other that is 37,500 square feet for a total of about 62,000 square feet. These multiple-tenant buildings, both built in 1987, each have approximately 60% office space, 22 feet of clear height, and 18 loading doors (36 total for both buildings). The suite sizes range from 1,680 to 20,111 square feet. The site is approximately 0.38 acres. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

As of the effective appraisal date, the property was 67% leased; one building was 100% occupied by 10 tenants, while the other building was 46% occupied by two tenants. In this submarket for this type of property, stabilized vacancy is approximately 10%, which means that as stabilized, the property should be about 90% occupied. Therefore, when performing this type of valuation, it is necessary to consider lease-up costs as the typical investor would lease the property to a market occupancy rate.

If you have any industrial business park valuation questions or needs, 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 the neighborhood of Talmadge in San Diego. The building, constructed in 1985, consists of 7 dwelling units (a mix of one-bedroom and two-bedroom units) and has 5,680 square feet of rentable area. Project features include 4 one-car garages and a laundry facility with one washing machine and one dryer. The units are 100% leased as of the effective appraisal date.  The purpose of this commercial valuation was for loan underwriting purposes for a lender.

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

Ground Lease Appraisal in San Diego County

Ground-Lease-Property-AppraiserIntegra Realty Resources – San Diego has completed a commercial appraisal of a property subject to a ground lease located in the Otay Mesa region in San Diego County. The subject consists of two parcels totaling 67.53 acres; however only a portion of the property (16 acres) was valued. These 16 acres were improved as a yard storage property that was about 41% leased to multiple tenants. This valuation, done for loan underwriting purposes for a lender, involved the valuation of several premises, including the as is value of the fee simple interest, and the prospective market value of the leased fee interest.

If you have any ground lease valuation questions or needs, please contact us today at 858-259-4900 or sandiego@irr.com.

Hotel Property Appraisal in San Diego

Hotel-Property-AppraiserIRR San Diego’s hotel practice group has completed a commercial appraisal of a hotel property located in district of San Ysidro in the city of San Diego. The property consists of an existing interior and exterior corridor hotel property that contains 68 rooms. Constructed in 1985 with ongoing renovations since 2011, the three-story property includes special features like a porte-cochère, a sundries store, a business center, a guest laundry facility, a fitness center, a meeting room (divisible from a breakfast area) and an outdoor pool. The property is located on 0.92-acre site. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you have any hotel valuation questions or needs, please contact us today at 858-259-4900 or at sandiego@irr.com.

Real Estate Appraisal for Gifting Purposes

Appraisal-for-giftingIRR San Diego has completed a commercial appraisal of an apartment property located in the city of Del Mar. The property consists of six separate buildings containing 44 dwelling units. The 39,000 square foot project was built in 1977 and is 98% leased as of the effective appraisal date. Project amenities include a pool and spa as well as a laundry facility. The buildings are located on a 2.37 acre site.

The purpose of this commercial valuation was for gifting purposes. This type of intended use is different from traditional lending purposes as it involves different intended users (such as the Internal Revenue Service) and a different definition of market value.

If you have any needs for a real estate appraisal for gifting purposes, please contact us today at 858-259-4900 or sandiego@irr.com.

UA-53447983-1