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Commercial Appraisal

We are a professional Commercial Appraisal firm covering Missouri, Illinois, and Iowa. Call Now - 575-769-7779

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Please watch the above video to learn more about our Commercial Appraisal Department. After watching the video please complete the form to the left and one of our Commercial Appraisal Professionals will contact you within a few hours to help answer any questions you may have.

We are always here to help, so give us a call and put us to the test.

We have the knowledge and competency necessary to appraise income-producing properties of all types.  Every appraisal project is treated with serious attention to detail and is developed with the most reliable methodology.  Our commercial real estate appraiser keeps sale and lease databases up-to-date so that he can utilize the most comparable data to appraise your property.  We also stay up-to-date with market trends by being familiar with changes in property use and activity, and by interviewing market participants.  Whatever your need for a commercial real estate appraiser, we do our best to make sure it is done right.  The result of our special care for your needs and satisfaction is a quality appraisal product that will exceed your expectations.  We can help with all your commercial real estate appraisal needs.

Appraisal of a Commercial Property

Spurgeon Appraisals regularly performs commercial real estate appraisals.  At Spurgeon Appraisals, you will receive the personal attention you deserve, every step of the way, from a Certified General commercial real estate appraiser. Contact us today to experience first-hand the accuracy, thorough research, and efficiency of our commercial appraisal services.

Our database of commercial sales is unmatched.  We collect sales data from many sources, including: dozens of commercial realtors, multiple listing services, and commercial auction companies.  You can be sure that any and all relevant data will be considered in the development of your commercial appraisal. 

Why hire Spurgeon Appraisals for your commercial appraisal?

Honest Communication

The experts at Spurgeon Appraisals are easy to get ahold of and answer all your questions. We know your time is valuable and we want to make sure all your concerns are addressed quickly.  Our quality of service is second to none.

Guaranteed Completion Dates

Because we understand that having accurate information on your commercial property as soon as possible is important to you, we make sure to meet our deadlines.

Certified General in Missouri, Illinois, and Iowa

We have Certified General Appraisers in three states to handle every one of your appraisal needs.

Residential - Commercial - Farm

We are the only commercial real estate appraisal firm you will need to call. We appraise a variety of commercial properties and income-producing properties Missouri, Illinois, and Iowa. 

Consumer Protection

Buying a home or an investment property can be an exciting experience and the decision can impact your life for years to come.   Before making your purchase let an unbiased commercial real estate appraiser provide you with an accurate appraisal of market value. 

 

We have performed commercial appraisals for many uses, including:

Click on an icon below for more information about services we offer.

Below is a short list of properties appraised by our commercial real estate appraiser.

•Industrial

•Office

•Retail

•Medical

•Mobile Home Parks

•Apartments/Multi-Family

•Shopping Centers

•Subdivisions

•Banks

•Gas Station/Convenience Stores

•Commercial Vacant Land

•Auto Shop

•Riverfront/Barge Access

•Veterinary Clinic

•Car Wash

•Storage Units

•Lodges

•Motel/Hotel

•Churches

•Row Buildings

•Schools

•And More!

In developing an appraisal for an income-producing commercial property we frequently employ the use of capitalization rates, rent surveys, discounted cash flows, and relevant market data.  Understanding, analyzing, applying, and projecting income and capitalization rates is something we do every day at Spurgeon Appraisals. We have the knowledge and experience necessary to accurately value the return on your commercial real estate.

Industrial Commercial Appraisal

We are no strangers to challenging projects.  Clients often come to us with commercial projects that require a great deal of competence and experience to complete.  We don’t shy away from difficult appraisal assignments.  No matter your need for a commercial appraisal, we will be happy to discuss solutions we can offer.

Our past customers have had nothing but great things to say about our commercial appraisal services.  Visit our testimonial page to read all about our services from our past and present customers. 

The process of getting an appraisal has never been easier.  Our appraisers are professionals that you can talk to, and they perform quality appraisal work that you can trust.  Call now to get a free quote. 

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573-769-7779

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commercial appraiser northeast missouri

On the remainder of this page, you will find our past newsletters on the topic of commercial appraisals and related topics. Be sure to check this page often for updates, or subscribe to our newsletter for other kinds of helpful articles.

Use the search feature below to find what you want to know.

NEW TAX BREAKS IN OPPORTUNITY ZONES

by Matthew Roberts, Certified General Real-Estate Appraiser

July 2018

Congress recently passed the Tax Cuts and Jobs Act in late 2017.  Part of the reform included the creation of “Qualified Opportunity Zones”.  The program is meant to encourage private investment in lower-income areas.  Their view is that these areas have struggled the most since the last recession in 2008, and the plan is to bring in new investment and commerce.  There are almost 10,000 of these zones nationwide that have been selected by the state governors and approved by the US Treasury.  There are some in all 50 states, and many within Missouri, Illinois, and Iowa.

commercial appraiser near me

So what is an Opportunity Zone? It’s basically an investment vehicle for investing in business or property located in one of the zones.  The incentive to do so comes in the form of tax advantages.  The first advantage is that any portion of a gain realized in the sale of an investment that is reinvested into one of these Opportunity Zones is not immediately taxed as a gain but is deferred until as late as 2026.  Second, if the new investment is held long term, 5-7 years, 15% of the original gain can be permanently excluded from taxation.  And third, if a property is held by an investor in the Opportunity Zone for at least 10 years, any gain on the sale of the investment can be exempt from federal tax. 

See the announcement by the U.S. Treasury here:
https://home.treasury.gov/news/press-releases/sm0414

See the list of Opportunity Zones here:
https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx
 

Because some of these zones are within our appraisal coverage area, we will be keeping a close eye on how these zones are rolled out and how local real estate development responds.  And so should you, since there may be new opportunities for many professions!

Spurgeon Appraisals regularly appraises a variety of property types. We have experience appraising farms, residences, and commercial properties. We pride ourselves on providing excellent customer service and quality appraisals. Contact our team to see how we can meet your appraisal needs and exceed your service expectations.

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NOT-YOUR-AVERAGE APPRAISALS

by Matthew Roberts, Certified General Real Estate Appraiser

November 2019

As a Certified General Appraiser, I regularly appraise a wide range of property types including agricultural and commercial.  By taking on commercial projects in this rural area, I often encounter a variety of commercial uses and client needs.  You may find some of my recent projects interesting.

Extended-Stay Motels: Recently I have appraised multiple lodging properties that either offer extended-stay units or are entirely extended stay operations.  These have become popular offerings or conversions of older, existing nightly-stay motels.  Locally, some of these properties are benefiting from renting rooms to transient labor in the area who are working on large construction projects such as pipelines, transmissions lines, and public construction like road and bridge projects.  Inside of the room itself, you may not notice a difference between it and a nightly stay room.  Some property owners simply add a small refrigerator and a microwave to each room and you are likely to have weekly instead of daily cleaning services.  While you could certainly stay as short as one night or as long as a month, the rooms are normally priced and rented on a weekly basis.

commercial appraisals northeast missouri

Restaurant Fire: This project was essentially for insurance purposes and was a retrospective appraisal of a restaurant that was completely destroyed in an accidental fire in 2015.  The client wanted the value of the property before the fire.  This fact made a physical inspection particularly difficult because the building was gone and all that was viewable was a vacant site.  Property details were gathered from other available sources such as county assessor records, a local realtor familiar with the property, information provided by the client, and the property owner, who directed me to the most recent known photos of the restaurant, which were posted on Facebook.  The assignment was interesting and solidified our belief that the more information the appraiser has, the better.

Surprise Easement: Unfortunately, a buyer of a property learned too late about a restrictive easement in place.  A small lot was purchased for development which sat between a residential property and a commercial property and had highway frontage.  The owner purchased the property with the intention of building commercial improvements.  After the sale, construction crew was clearing the site when the neighbor from the adjacent residential property kindly walked over and asked that they try to avoid hitting his sewer line.  Title work did not catch that the subject parcel had a sewer line easement running across half the property which greatly affected what, if any, development could proceed.  The property owner’s plans came to a halt.  We were contracted to determine the diminution in value that the restrictive easement had on the property.

We are no strangers to challenging projects.  Clients often come to us with projects that require a great deal of competence and experience to complete.  We don’t shy away from difficult appraisal assignments and sometimes even end up with projects that other appraisers have turned down.  No matter your need for an appraisal, we will be happy to discuss solutions we can offer.

Spurgeon Appraisals regularly appraises a variety of property types. We have experience appraising farms, residences, and commercial properties. We pride ourselves on providing excellent customer service and quality appraisals. Contact our team to see how we can meet your appraisal needs and exceed your service expectations.

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DOES PAIN AT THE PUMP MEAN PROFIT
FOR CONVENIENCE STORE OWNERS?

by Matthew Roberts, Certified General Real Estate Appraiser

October 2014

In appraising convenience stores, among several other factors, we give consideration to the strength of the market and market trends affecting profitability.  Understanding market trends and nuances is essential to accurately appraising convenience stores.

The Industry
Motor fuels sales account for more than 2/3rds of the convenience store industry’s sales.  But, because of low margins, it contributes less than 1/3rd of total store profit.  

Increasing emphasis is being placed on in-store sales, but the c-store owner must remember that the fuel customer drives overall sales.  C-stores have been working to create in-store demand and success has been found in providing quick snacks or on-the-go meals.  Busy consumers have responded favorably, and food service is a rapidly expanding segment of the industry.

Modern Challenges
Two major issues pose problems for the c-store industry: credit card fees and competition from hypermarkets.  Credit card fees are calculated on a percentage of the retail price, and as fuel prices increase so do credit card fees.  With fees averaging 2% of retail price, these costs can chip away at the store’s already small fuel sale margins. 

A hypermarket is a large retailer that predominately sells merchandise/groceries, but also sells fuel.  Examples include stores like Wal-Mart, Costco, or Hy-Vee.  These stores are selling fuels simply to increase their in-store sales.  Hypermarkets can offer fuel slightly cheaper than c-stores and manage lower margins.   Because of the competition, the c-store industry is currently undergoing structural changes to meet apparent consumer demand for quick and convenient products and services.  Only time will tell what the future holds as new business models emerge in the convenience store industry.

Fuel Margins
Motor fuel prices per gallon and fuel margins for retailers have fluctuated dramatically over the past ten years.  Margin cents per gallon appears to be stable to increasing.  This would be good for profits; however, the margin as a percentage appears to have decreased over the past ten years.  Margin cents per gallon is not increasing as fast as price per gallon.

C-Store Facts

  • The number one reason consumers choose a c-store is its fuel prices.

  • The industry continues to add convenience stores every year. Their current number in the U.S. equates to about one c-store for every 2,100 people.

  • Surprisingly, “big oil” does not likely own your local c-store; half are one-store operations. Large corporations own less than 20% of c-stores.

  • Hypermarkets have captured 12% of the U.S. gasoline market.

  • About 2/3rds of a typical store’s profit comes from in-store sales, which generally include sales of merchandise, foods, beverages, alcohol, and tobacco.

  • The fuel margin as a percentage over the past decade has been about 5% to 8% - which is before operating expenses, including credit card fees, have been deducted.

Conclusion
Convenience stores may appear to be a mature industry composed of mostly smaller ‘mom and pop’ operations.  In reality, the industry as a whole has shown to be very adaptive to consumer trends, advancements in technology, and market conditions.  In the future, c-stores may see changes in their business models because of competition from hypermarkets and lower fuel margins.  The industry is currently withstanding market recession factors by maintaining profitability and successfully meeting changes in consumer demand.  C-stores generally rely on a neighborhood customer base, and conveniently offer motor fuels, necessity grocery items, snacks and beverages.  These traits have given the c-store industry the ability to remain profitable and competitive in a variety of economic periods.

Spurgeon Appraisals regularly appraises a variety of property types. We have experience appraising farms, residences, and commercial properties. We pride ourselves on providing excellent customer service and quality appraisals. Contact our team to see how we can meet your appraisal needs and exceed your service expectations.