Complex Property Valuation: Hotels and Drugstores Webinar
Presented by Tim Wilmath & Ken Engle, RES
Recorded on December 15, 2010
More than any other property types, hotels present the challenge of separating business value from the going concern to determine the value of the real estate. This presentation provides methods for creating mass appraisal models to value hotels, which incorporates techniques for removing both business and personal property value from the going concern. All three approaches to value are discussed, and reliable sources of data for model creation are presented.
The past two decades have given rise to the growth of corner drugstores at a staggering pace. This presentation examines the business model developed by the four major drugstore companies, Walgreens, Eckerd, CVS and Rite Aid, that allowed the drugstore chains to act as tenants in build-to-suit-stores. To help assessors understand the many ways to estimate their market values, valuation factors affecting drugstores are examined, including development and sale-leaseback issues.