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The control exerted over the physical plant and / or the operation of an improved property.  Professional, competent management can make the difference between a property that consistently provides higher returns and a marginal property. 


Market Rent


The "economic" rental rate that a specific property should command given its relative physical and economic features within a sub-market area.  Properties that are encumbered by leases that provide it below market returns are not as sought after by market participants as those that provide market returns. 


Market Value


Market value is a term defined within each appraisal report, as required by USPAP, and a number of definitions are typically used.  Generally the definition includes a discussion about a willing and informed seller and a willing and informed buyer.  The definition can be different, however, where it deals with "the most probable price" or "the highest price" that would be paid for a property.


Appraisal reports for lenders generally provide market value defintions that are consistent with those agreed upon and used by the federal government.   




Copyright 2007 Horizon Village Realty & Appraisal

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.