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How do we value your property?

At Tide Realty Group we value commercial property by formulating a Broker Price Opinion (“BPO”), also known as a Broker Opinion of Value, (“BOV”). A BPO/BOV, is an estimate provided by our experienced real estate advisors to help landlords achieve the best pricing for the sale of their property and also helps investors make a fully informed decision when considering an acquisition. Working with Tide Realty Group offers a wealth of advantages for investors and property owners looking to develop a solid understanding of their commercial real estate assets. Our expertise allows us to perform an accurate Broker Opinion of Value (BOV), taking into account various factors such as location, market trends, and property performance. This tailored analysis not only aids property owners in making informed decisions but also maximizes their investment potential.

What is the difference between a BPO/BOV and appraisal?

A BPO and a BOV are both estimates provided by a real estate Advisor to help investor know how much to bid for a property and are often used to help landlords achieve the highest price when it comes time to sell. It is important to know that A BPO/BOV are not held to the same standard as an appraisal and are used to price a property for listing or to determine a reasonable offer price. Appraisals, on the other hand, are more formal evaluations that are typically required for lending and other financial purposes.
What are the benefits of a BOV/BPO?
The benefits of obtaining a BOV for a commercial real estate transaction include:
- A BOV is typically faster and significantly less expensive than an appraisal.
- A BOV can provide an estimate of the value of a property to help a potential investor know how much to bid.
- A broker can look at comparable properties to see how much they have sold for, with a particular eye on those that have sold in the last six to 12 months.
How is a BOV used in commercial real estate financing?

A BOV is used in commercial real estate financing to help lenders determine the value of a property. The advisor analyzes how much income the property can generate by calculating income using two different methods: Direct Capitalization and Discounted Cash Flow Analysis. Direct Capitalization looks at the Net Operating Income (NOI) of the property using a cap rate. Discounted Cash Flow Analysis looks at the time value of money by using projections of future cash flow discounted to the present day. The advisor also looks at comparable properties to see how much they have sold for in the last six to 12 months. Properties with more similarities to the asset are weighted more heavily into any calculation.

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What are the different approaches when formulating a BPO/BOV?

Accurate Ways to Perform Property Valuations

Sales Comparison

An Advisor looks at comparable properties to see how much they have sold for in the last six to 12 months. The sales comparison approach is excellent when a substantial amount of similar properties in the area have recently sold, but it may not be effective for highly specialized, unique assets in a market.
Income Capitalization

The Advisor analyzes how much income the property can generate. To do this, they calculate income via
two different methods.

Direct Capitalization: Reviewing net operating income,
or NOI, using a cap rate; Discounted Cash Flow Analysis: Focuses on the Time Value of Money by using projections of future cash flow discounted to the present day.
Cost Analysis

This approach takes into consideration how much it would cost to reproduce the property itself. To determine an accurate calculation, an advisor must subtract any accrued depreciation. This can manifest in three forms: functional obsolescence, physical deterioration, and external obsolescence.

Functional obsolescence occurs when an older building can no longer accommodate the requirements of today’s users. Physical deterioration refers to ordinary deterioration of building elements that occurs over time. External obsolescence occurs when a building loses functionality and value due to outside factors, including changes in real estate markets, demographic shifts, excess traffic, and so on.

Why Is a Valuation Important?

Situations When a Property Valuation May Be Necessary

Location Report

This section typically includes a property’s address, descriptions of all buildings on the property (and their dimensions), a map of the site, and aerial images of the property.
Site Description

Detailed site information, often mentioning site visibility, access roads, and other important data.
Property Condition

Additional information about the property, including a description of its current condition.
Tenant Data

Details about the tenants currently leasing parts of the property. This may include company information, creditworthiness, a rent roll, and any other relevant information.
Proforma

A proforma will typically include net operating income, gross potential income, expenses, and any other important metrics. This may either be a stabilized or multi-year proforma.
Comparable Market Listin...

This section includes reports about at least three similar properties for sale in the area, also detailing three similar properties that have recently sold. The report may analyze the properties and discuss similarities and differences with the subject property.
Market Trends Report

Details of importance to the commercial real estate market including employment, population, and building construction trends. Leasing data, traffic trends, and other information may also be included.
Market Value Estimation

The market value estimation takes the data from the proforma, as well as the income and sales comparison approaches to estimate a range of values for the subject property.

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Luxury Presence Home Value

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How Much is Your Property Worth?

How do we value your property?

What is the difference between a BPO/BOV and appraisal?

What are the benefits of a BOV/BPO?

How is a BOV used in commercial real estate financing?

Browse Market Listings

What are the different approaches when formulating a BPO/BOV?

Why Is a Valuation Important?

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Leave a Message

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Investment Sales Advisory

Services Involved

Get your instant property valuation

Get the best price for your Property

Reach out for more information

Luxury Presence Home Value

Estimate not available

How Much is Your Property Worth?

How do we value your property?

What is the difference between a BPO/BOV and appraisal?

What are the benefits of a BOV/BPO?

How is a BOV used in commercial real estate financing?

Browse Market Listings

What are the different approaches when formulating a BPO/BOV?

Why Is a Valuation Important?

Rise With Us

Follow Us on Instagram

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Tide Realty Group

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