Welcome to my channel and in today’s video, I am going to answer the question "What is Tenant Improvement?". ▶️ Visit to know more: https://www.raphaelcollazo.com/ Each week, I answer questions asked by our viewers on topics pertaining to commercial real estate. If you're interested in having your question answered, feel free to email me. ▶️ raphael@grisantigroup.com ▶ With the subject line of "Weekly CRE Question" In this video, I explain what a commercial appraisal is and the methods appraisers use to determine the value of commercial properties. Commercial appraisers use 1 of 3 methods to determine the value of commercial real estate: 1) Comparable approach – A comparison of properties of similar size, age, type, layout etc. that have sold recently. Used in the evaluation of owner-occupied real estate. 2) Income approach – A valuation method that takes the Net Operating Income of a property and divides it by the market cap rate. Used in the evaluation of an income-producing property. 3) Cost Approach – base the value on the construction cost of the property. Used in the evaluation of new developments. When compared to residential appraisals, commercial appraisals take longer and are often more expensive. In fact, commercial appraisals can cost anywhere between $1,000 - $10,000 + depending on the size and complexity of a building. If you're interested in buying, leasing, or selling commercial real estate, I'd be happy to help! I look forward to helping you reach your real estate goals! If you like the video, please SUBSCRIBE, and don't forget to press the bell 🔔, 👍like, comment and share. Stay safe and Love all. --------------------------------------- ▶️ If you're interested in leasing, buying, and/or selling commercial property in the Louisville metro area, I would love to help! ▶️ Check out my Website: https://www.raphaelcollazo.com/ ▶️ Email me: raphael@grisantigroup.com ▶️ Call/Text me: 502-536-7315 ------------------------------------------ ▶️ FREE REAL ESTATE GUIDES: https://linktr.ee/raphaelcollazocre ------------------------------------------ ▶️ Follow me on: • Meetup: https://www.meetup.com/Commercial-Real-Estate-101/ • Instagram: https://www.instagram.com/recollaz/ • Facebook: https://www.facebook.com/raphaelcrelouisville • LinkedIn: https://www.linkedin.com/in/raphaelcollazo/ --------------------------------------------------- ▶️ Other Videos: • Top 4 thing to consider (retail property): https://www.youtube.com/watch?v=zxbXZiYf8b8 • How to purchase investment property: https://www.youtube.com/watch?v=vroj5Rru49w • Rookie to Real Estate Rockstar: https://www.youtube.com/watch?v=LE6ikpQp-Hw • Finding and Funding Great Deals: https://www.youtube.com/watch?v=oOq9FKROcoE ----------------------------------------------------- ▶️ Commercial Real Estate Investment Analysis: To watch a great video on how to analyze commercial investment deals, check out the link provided here: https://bit.ly/2GwuSXX #commercialproperty #commercialrealestate #commercialdeals #commercialrealestatedeals #RaphaelCollazo #commercialappraisal #commercialappraisals #appraisal #appraisals #commercialrealestateappraisal #commercialrealestateappraisals #commercialrealestateappraiser #commercialrealestateappraisers #commercialappraiser #Louisvillecommercialrealestate #louisvilleky #louisville