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Commercial Valuation; BPO or BOV
As the market shifts, I have been commissioned by many owners, lenders and asset managers to place a value on their commercial property.  I am quick to point out that I am not an appraiser, however, a commercial real estate agent can create a Broker Price Opinion or Broker Opinion of Value.  It is a relatively quick assessment (usually 3 to 5 hours) of the property's value in the current market. 
My most recent BPO was for a client wanting to know the property's value to assess their real estate portfolio.  What an eye opener for the owner.  In the BPO, one of the ways I was able to support the value was by using the current net operating income (NOI).  I was also able to demonstrate the value once the NOI had been adjusted by lowering the expenses.  I was able to do this by pointing out that the facts of the P/L statement.  Baby Boomers will remember Joe Friday from the 1950's TV show Dragnet.  Joe Friday was a detective and when working a case he would remind a witness to stayed focused to what they saw or heard.  He'd say, "the facts please, nothing but the facts."  So the fact of the ... more

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