PROPERTY TYPES

Some types of property that McInnes & Company Appraisals Ltd. appraise include Industrial, Commercial, Farms & Ranches, Hotels & Motels, Apartment Buildings, Duplexes, Residential, Bare Land etc. Following, is a list of the most common types of property that we appraise and a brief description:

Contents

COMMERCIAL


Commercial values are established primarily on the potential income and specifically, the Net Operating Income. When appraising commercial properties, all of the following affect value:
  • location
  • condition
  • age of building
  • size of building (sq. ft.)
  • economy
  • supply and demand
  • competition
  • availability of raw and serviced land
  • building costs
  • interest rates
  • alternate investments, etc.

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INDUSTRIAL




Industrial values follow all the same principles as commercial wih more emphasis on factors specific to these properties. Industrial properties in Lloydminster and surrounding areas are largely affected by the oil industry and values tend to remain fairly stable with properties being sold or purchased in strong economic times, but adopting a passive holding pattern when the oil price is low.



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FARMS



McInnes & Company Appraisals Ltd. have considerable experience with Agricultural and rural properties. Roy McInnes entered the appraisal field with Farm Credit Corporation and has done farm and ranch appraisals throughout his career. Some accomplishments achieved are:

  • Largest ranch appraisal completed, approximately 10,000 acres.
  • Largest feed lot appraisal completed, 2,500 head capacity. &
  • Largest single hog barn appraisal completed, approximately 55,000 sq. ft.




    • For Your Information:
    Understanding Township Roads & Range Roads in Alberta
    Land Survey picture The blue and white signs appearing at rural intersections are the same as street signs in a town. If you are traveling East or West, the first one or two numbers indicate the range and the last number, the road. North and South indicates Township.

    Eg #1: SW15-50-12-W4 (South West Quarter of Section 15-Township 50-Range 12-West of 4th Meridian) would be on the corner of 123 (E & W) and 502 (N & S).

    Eg #2: NE20-46-15-W4 (North East Quarter of Section 20-Township 46-Range 15-West of 4th Meridian) would be on the corner of 154 (E & W) and 464 (N & S).

    TR=Township Road
    RR=Range Road


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    RESIDENTIAL

    Residential values are established by the Direct Comparison Approach, where the subject home is compared to recent sales of similar homes in similar locations.

    Factors that affect value are location, neighbourhood, condition of home, quality of home, upgrades and extras, landscaping, etc. Details such as an attached garage with an internal entrance vs. without an internal entrance play a part.

    Finally, supply and demand are considered. Homes are valued higher when demand is high and listings are low. The reverse will reduce value.


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    Last Updated: January 2005
    Webmaster: Trudy Larry

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