Light Industrial

Light Industrial

Building Type: Light Industrial

Location: Calgary, AB

Year Built: 1994

Client: Owner

This property is comprised of a concrete block-framed light industrial development with 18 commercial units in two buildings. It is being leased out by a private owner. The exterior cladding features concrete blocks, cultured stone, wood, and glass panels. Some units also have skylights. 

The appraisal team must figure out what is included for the appraisal report when we go on the site inspection. The owners often leave commercial units as a shell finish, which is just the bare structure with minimal finishing, pre-wired or basic HVAC, electrical, and plumbing systems. As tenants rent out spaces, they put in their own betterments and improvements for the units. We need to determine what is included for the replacement cost for the owner and the remaining improvements are under the tenant’s responsibility. Difficulties arise when tenants leave behind significant equipment such as rooftop HVAC units, plumbing, fire safety equipment and interior finishes such as wall partitions and flooring.

Townhome Complex

Townhome Complex

Building Type: Townhome Complex

Location: Edmonton, AB

Year Built: 2002

Client: Condo Board via Property Manager

 

This is a wood framed townhouse complex with 174 units in 27 buildings. Each building has three floors with unfinished basements, attached garages, balconies, and prewired security alarms, and basic site improvements including irrigation. There is a shared playground, gazebo, benches, and other hard and soft landscaping features. The roofing is made up of wood trusses and wood shingles.

The appraisal team must use our own notes from the site inspection and condo plans to identify and determine the different building areas, as well as measure the distance between each building for risk of fire spreading. The roof material is now becoming obsolete so we must account for a current, equivalent material to be used in a rebuild as part of our appraisal.