PF Kruse also appraises some non-residential property in the small cities and towns in northeastern Indiana. Some of our Non-Residential Appraisal services include the following:
• Commercial & Industrial Properties
• Warehouse Facilities
• Office Buildings
• Retail Establishments
• Churches & Schools
• Subdivisions and Developmental Land
• Land Utilization Studies
• Tax Assessment Review and Advice
• Eminent Domain, Condemnation and Zoning Appeal Advice
A non-residential appraisal is a valuation tool used by lenders, investors and individuals to identify a property’s highest and best use and value. There are many reasons for appraising non-residential property which include some of the following:
• Feasibility – Land Utilization Studies
Appraisers are often required when counties, cities or towns are planning certain uses of land, rezoning, implementation of housing developments, traffic infrastructure, cost benefit analysis and a whole host of various projects. Appraisals are also needed for proposed construction of many different types of projects. Our appraisers take the responsibility to deliver an accurate appraisal report that is a necessary response to the question of fair market value. They are also used to help determine the viability and potential demand for proposed developments.
• Property Tax Assessments
Challenging tax assessment has become necessary in many areas, as some non-residential property has been over-assessed. A real estate appraiser can provide accurate answers to the question of value, which may save several thousand dollars in the period of a few years.
• Non-Residential Reports
PF Kruse prepares different types of commercial, industrial and special purpose property reports that all comply with the Uniform Standards of Professional Appraisal Practice (USPAP). These include both what were formerly termed complete and limited appraisals, in what were formerly termed either summary or restricted use reports. The firm specializes in limited, market-value based, non-residential restricted use reports. These reports typically only develop the market approach to value in full, and are only used for properties that meet this criteria. We believe that for many properties, these restricted use reports can still provide as current and credible of information to lenders and property owners as other costly alternatives. These reports can also be completed in less time and with lower costs than it takes to complete a more complex appraisal report.