Selecting Units of Comparison

1
Selecting Units of Comparison

• Criteria
• Nature of the Property
• Appraisal Problem to be Solved

Wayne Foss, MBA, MAI, CRE, Fullerton, CA USA
Email waynefoss_at_usa.net
2
Common Units of Measure

• Measures of Surface
• 1 square foot 0.029 square meters
• 1 square meter 10.764 square feet
• 1 acre 0.4047 hectare
• 1 acre 43,560 square feet
• 1 hectare 2.471 acres
• 1 hectare 10,000 square meters
• 1 Ping 3.31 square meters 35.63 square feet
• 1 Ping 2 tatami mats

3
Residential Properties

• Single-Family
• Total Property Price
• Price per square foot of gross living area
• Apartment
• Price per apartment unit
• Price per apartment room
• Price per square foot of gross building area

4
Industrial Properties

• Warehouses
• Price per square foot of gross building area
• Price per cubic foot of gross building area
• Factories
• Price per square foot of gross building area
• Price per machine unit

5
Office Properties

• Price per square foot of gross building area
• Price per square foot of net rentable area
• Price per square foot of useable area

6
Hospitality Properties

• Hotels and Motels
• Price per guest room
• Restaurants, Theaters, and auditoriums
• Price per seat

7
Recreation Properties

• Golf Courses
• Price per round annual number of rounds played
• Price per membership
• Price per hole
• Price per acre
• Tennis and racquetball facilities
• Price per playing court

8
Agricultural and Vacant Properties

• Agricultural
• Price per Acre
• Price per animal unit (for pastureland)
• Price per board feet (for timberland)
• Vacant Land
• Price per square foot
• Price per front foot
• Price per acre

9
Special Purpose Properties

• Mobile Home Parks
• Price per parking pad
• Marinas
• Price per Slip
• Automobile repair facilities
• Price per bay
• Price per square foot of gross building area

10
So Thats Units of Comparison
Are there any Questions?
Wayne Foss, MBA, MAI, CRE, Fullerton, CA USA
Email waynefoss_at_usa.net