Commercial Property Valuations
Commercial properties
A commercial property is defined as real estate that is used for business purposes and generating profit.
Here are some examples of commercial properties:
- Office parks
- Retail malls
- Car dealerships
- Factories
- Warehouses
- Medical centres
- Fuel stations
- Hotels
Do you know what your commercial property is worth? Get a quote
Our commercial property valuation methods
Different methods can be used to determine the value of a commercial property.
The method typically used is the Income Capitalisation Approach, which considers the value of the income stream that a property generates or could potentially generate. The Cost Approach typically values the property based on what it would cost to build that property today. The valuer will choose the most appropriate approach for the particular commercial property. However, if the appraiser is unable to make a determination using either of these two methods, the Comparable Sales approach can also be employed. Mirfin’s valuation report always includes the comparable sales of the commercial property to illustrate the selling prices of similar properties in the same area.
Depending on the intended use and location of the property, valuers can also use a combination of approaches to determine the most accurate property value.
Request a quote for your next commercial property valuation. Get a quote
Mirfin’s qualified valuers
Mirfin’s accredited commercial property valuers are situated across South Africa and our service areas include cities, such as Pretoria, Johannesburg, Cape Town, Durban, Bloemfontein, George and Gqeberha.
With our in-depth knowledge and many year’s experience in the property industry, we are able to provide comprehensive and accurate commercial valuation reports.
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Why choose Mirfin for your commercial property valuation?
Best price guarantee
We will beat any price for the same service offering.
20 years
We are industry pioneers and industry leaders for over 20 years.
R160 billion
Properties, buildings and contents worth more than R160 billion valued annually.
600 000
600 000+ homeowners, property managers, insurers, brokers & attorneys assisted annually.
98% service coverage
Our certified valuers are situated in the densely populated areas of Johannesburg, Pretoria, Cape Town, Durban, Bloemfontein, Port Elizabeth, East London and Mossel Bay.
R45 million
Our insurance valuations are covered by professional indemnity of up to R45 million per event.
Frequently asked questions
You can get a rough estimate of your commercial property’s value by using Mirfin’s Building Cost Calculator tool.
However, to accurately determine the value of your property, a professional valuer will have to conduct a thorough on-site valuation.
Mirfin’s professional commercial property valuation report includes:
- A detailed description of the property and its environment
- A detailed description of the building, including design, construction, building materials, etc.
- Risk and maintenance observations such as overall state of maintenance, fire safety, security, retaining walls, etc.
- A detailed breakdown of the building’s construction cost
- An analysis of comparable sales and rentals
- Income capitalisation calculation
- Interior and exterior photographs
- Supporting documents such as title deed information, site diagrams, aerial imagery etc.
To get an accurate value, a qualified valuer will have to physically visit and inspect your commercial property. Learn more about our property valuation methods
Many factors affect the value of a commercial property, such as:
- Location of the property
- Size of the property
- Condition of the property and the improvements thereon
- Income capitalisation
- Comparable sales & rentals in the vicinity
- The property’s renovation potential
- Nearby amenities
- State of the economy
Our valuers take all necessary factors into consideration when conducting a professional commercial property valuation.
Mirfin operates across South Africa, its valuers each holding a National Diploma in Real Estate: Property Valuation (as a minimum), and certified by the South African Council for the Property Valuers Profession (SACPVP).
A commercial property is real estate that is used for business purposes, such as retail stores, office buildings, factories, restaurants, healthcare facilities, etc.
A residential property is specifically used for personal accommodation. Examples include stand-alone houses, apartment buildings, homeowner associations, etc.
Mirfin is experienced in determining the value of mixed-use properties. Click here to learn more about our valuers.