Zillow is used by realtors and mortgage professionals to quickly check the market value of a home. There must be a site that does this for commercial property. Zillow is free. I am looking for the commercial equivalent of Zillow. All I can find is softwares and reports to purchase.
2006-11-07 07:14:18 · 2 answers · asked by Lyndee 2 in Business & Finance ➔ Renting & Real Estate
hey. www.mynewplace.com offers a site where you list for free, but if they find you a renter, you pay a small fee after the lease is signed. let me know if you have more questions.
klein.inga@gmail.com
2006-11-07 08:09:03 · answer #1 · answered by bar22bie 2 · 0⤊ 0⤋
Zillow is a joke!
No real estate or mortgage professional I know uses zillow for anything. Zillow is awful. Here's an important article to read about Zillow: http://arstechnica.com/news.ars/post/20061027-8093.html
Okay, now that I got that off my chest, let me get to your question. There is no site for valuing commercial properties. The reason is because commercial properties are not typically valued in the same way as residential properties. Commercial properties typically are valued based on the income they generate, and not on recent sales of similar properties within a certain radius (aka the CMA approach).
The most common way of determining value of commercial properties is done with the following formula:
Net operating income / Cap Rate* = Sales Price
* Cap rate is the rate of expected return a property will return on an owner's investment. The market determines the cap rate, and varies from zip code to zip code.
2006-11-07 09:03:20 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Hi, you can use Keyvon to value commercial real estate. www.keyvon.com . It is really helpful and gives you both a rest estimate and also commercial property values. Good luck!
2014-02-15 19:37:22 · answer #3 · answered by Z S 1 · 0⤊ 0⤋
Remember you get what you pay for. If your just want to know what the sales price for the houses around you are then zillow will work. If your trying to find out the value of your house forget zillow and the others, they don't compare apples to apples. They don't use same design, they dont know effective age of the sales (amount of updating) they don't know the difference between GLA (Gross living area) and Square feet it's a really poor way to value prop.
2016-03-19 05:06:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I don't think there is one. You can look at your local commercial brokerage website; they might have sold properties there. You can also consult your local commercial agent for a CMA. You might also want to check out propertyshark.com (not sure if they have commercial properties).
2006-11-07 08:20:42 · answer #5 · answered by tianaramal 4 · 0⤊ 0⤋
Not much of an answer, I know, but how is that Zillow working out for you in terms of being on the money on the res side?
2006-11-07 07:57:47 · answer #6 · answered by Lanky 1 · 0⤊ 0⤋