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This 7-hour seminar introduces participants to how the terms of a lease and the risk profile of the tenant influence the valuation of commercial real estate. Participants will see how the business features of commercial leases affect the quantity and the duration of the income stream that a property will generate and the development of the property’s income statement. Non-traditional sources of income, the proper period to use in measuring the income, measuring the real vacancy rate, expenses that might not be recoverable by a landlord if a CAM formula is incorrect, and how other special clauses in a lease can all affect the property’s income stream will be examined. The second part of the seminar discusses tenant credit risk issues and explains why understanding a tenant’s financial strength is key to assessing the quality of the income stream.
Program Overview • Table of Contents & Overview (PDF) • Schedule (PDF)
Recommended Text • Appraisers in Arbitration• Valuation of Office Properties• The Appraisal of Real Estate, 14th ed.• The Dictionary of Real Estate Appraisal, 6th Edition
Type General
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Tuition Please contact the sponsoring chapter for information on fees applicable to chapter programs.
Required HP-12C calculator
AI CE Credit for Designated Members and Practicing Affiliates Attend Only = 75 points Who Should Enroll Appraisers, lenders, and brokers, and other market participants who are involved in the valuation of commercial real estate
Who Should Enroll Appraisers, lenders, and brokers, and other market participants who are involved in the valuation of commercial real estate
Level Basic/Intermediate
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