Appraisal types
Commercial Appraisals
Get a fair, accurate value for your property from appraisal experts who know the commercial market.
$455M in commercial property appraisals to date
From industrial to office to multifamily, nothing is outside our experience across Missouri, Illinois, and Iowa.
Commercial Appraisals in Missouri, Illinois, and Iowa
Spurgeon Appraisals provides commercial appraisals across Missouri, Illinois, and Iowa.
- Missouri commercial appraisals: Spurgeon Appraisals covers 21 counties in Missouri.
- Illinois commercial appraisals: Spurgeon Appraisals covers 9 counties in Illinois.
- Iowa commercial appraisals: Spurgeon Appraisals covers 5 counties in Iowa.
WHAT WE cover
Types of Commercial properties appraised
Storefront & Retail
Industrial
Office
Special Use
Common reasons
Why Clients get a Commercial appraisal
Loans & Financing
1031 Exchange
Buying & Selling
Tax Appeal
Estate Planning & Taxes
Litigation & Expert Testimony
Loans & Financing
Mortgage lenders, banks, and other financial companies prefer an up-to-date real-estate appraisal before approving any loan to purchase. It is a safety net for the lender to make sure that, if the loan goes into foreclosure, they can sell the property for the right amount to cover the loan.
A financial institution will not approve a property loan if the loan amount is higher than the value of the home, land, farm, or commercial building.
If you are in the market to buy, know that you will need an appraisal.
Give us a call today and we can answer any questions you may have. Your lender will most likely need to order the appraisal themselves, but you can still refer them to us.
We already service most of the lenders in our coverage area, so getting an appraisal for lending and financing should be easy for you.
1031 Exchange
What Is a 1031 Exchange?
A 1031 Exchange is a like-kind exchange that allows you to exchange property used for investment or in your trade or business, for other property to be used for the same purposes.
What Is Allowed by the IRS
Section 1031 of the Internal Revenue Code provides an exception that allows you to defer payment of capital gains taxes when you sell business or investment property if you reinvest the proceeds in similar property through a like-kind exchange—which is the purpose of the 1031 Exchange.
How to Qualify
To qualify for a 1031 Exchange, you must “trade up” for a property that is equal or higher than the sale price of the first property.
Reverse Exchange
According to the IRS, a “reverse exchange” is somewhat more complex than a “deferred exchange.” It involves the acquisition of replacement property through an exchange accommodation titleholder, with whom it is parked for no more than 180 days.
During this parking period, the taxpayer disposes of its relinquished property to close the exchange. All the proceeds made during the property sale must be put toward a down payment on the replacement property.
Excluded Property Types
The IRS states that certain types of property are specifically excluded from Section 1031 treatment. Section 1031 does not apply to exchanges of:
- Inventory or stock in trade
- Stocks, bonds, or notes
- Other securities or debt
- Partnership interests
- Certificates of trust
Buying & Selling
When buying and selling a property, whether it be a piece of farm land, a home, or a commercial property, an appraisal is necessary. Appraisals are important to both the buyer and the seller of any piece of property.
Buyers
As a buyer, an appraisal can help you understand what is included in your property and whether the seller’s asking price is accurate, too low, or even too high.
Banks and other financial institutions often require an appraisal prior to approving a loan for the purchase of property, to help them decide whether the property’s value corresponds to the loan amount.
Sellers
Appraisals are a must for the seller as well. Having as much knowledge about your property as possible is helpful when deciding on the asking price for your home, farm, property, or commercial building.
Having an accurate appraisal can also assist you when a buyer starts the negotiation process. You will be able to determine what bargaining range is comfortable for you. No seller wants to find out after they sell their property that they could have gotten more.
Also, placing too much value on your property (listing above market value) can result in fewer prospective buyers, longer marketing time, and can lead to problems in the loan approval process.
Tax Appeal
Think you are paying too much on your real estate taxes each year?
County taxes are oftentimes valued by county assessors who have a full plate as it is and often don’t have time to do thorough assessments of your property. They typically try to make the process as quick as possible which can result in inaccurate values and rough estimates.
An independent party, such as Spurgeon Appraisals, can take a more in-depth approach and provide you with a more accurate appraisal of your property.
This can lead to potentially saving you hundreds of dollars in taxes each year. With an official appraisal from Spurgeon Appraisals, you can appeal your tax costs and have a better chance of winning the battle.
Hiring a third-party, unbiased appraisal service can ultimately pay off over the years. You could be over-paying!
Estate Planning & Taxes
An appraisal is crucial for estate planning as well as valuation for tax purposes. It is always best to have an accurate and up-to-date appraisal when any property is involved.
Having a current appraisal helps you keep better track of your financial assets rather than estimating from an outdated appraised value. Properties can often increase in value, and they can decrease just as easily.
Estate Planning
For estate planning, appraisals can help determine the values of assets. This knowledge is indispensable for heirs if properties and assets need to be gifted or divided after a death.
Keeping an up-to-date appraisal on file is also handy when determining the increase of property value as well as growth or loss margins. Being able to see steady growth or loss over time can help determine proper selling and buying values for good investment opportunities.
Estate Taxes
Appraisals are also helpful for estate tax purposes. Having an accurate appraisal can help in the case of a tax audit. Many privately owned businesses are required by the IRS to have an appraisal for determining values if claimed on tax returns.
Appraisal costs are often tax deductible, so check with your tax preparer to determine if that works in your situation.
Litigation & Expert Testimony
Many property owners feel that they do not need an appraiser for litigation and expert testimony. But most owners have only unsupported lay opinions which may not even be legally sufficient to support a favorable verdict.
That is why there is a recognized need for effective appraisal experts in judicial and other valuation controversies.
In the case of court determination of value, there is a real need for educated subjectivity, exercised in a scrupulously professional manner. “Expert witnesses” are the only witnesses that can provide a subjective, opinion-based testimony.
The use of an appraiser as an expert witness can provide you with validation and greater credibility in disputes involving real estate. An effective appraiser can make your case, but a poorly trained or unscrupulous appraiser can ruin your case before it begins.
CLIENT RESULTS
The most 5-star Google reviews from our clients
From simple to complex deals, Spurgeon Appraisals always delivers a quality appraisal. They always respond promptly and their work is always very thorough.
Michael R.
★★★★★They are very professional and done a great job. Would recommend them to anyone looking for an appraisal.
Google ReviewAppraiser was very kind, prompt on scheduling and arrived on time. He answered all of my questions. I would highly recommend them.
Google ReviewVery pleased with their services. Professional, detailed and pleasant. Also, they complied with our timeline. Would definitely use them again and highly recommend them.
Google ReviewI was very impressed with this company as a whole from start to finish. The appraiser was very friendly and professional, and I was impressed with how quickly he was able to get the appraisal completed. I would definitely recommend this company.
Google ReviewWe had a great experience with Spurgeon. The communication was outstanding and the appraisal reports were delivered within the agreed upon time frame.
Google ReviewThe company was great to work with. All communications through email, and responses were quick. Appraisal done before date promised. I would use them again.
Google ReviewI shopped around, and Spurgeon Appraisals was right on price, and they delivered a good product.
Aaron B.
★★★★★Options
Turn times to fit your needs
Rush
1 Week
- Delivered within a week
- Priority scheduling
- Unbelievable? Let us show you.
Standard
2–3 Weeks
- Delivered within 3 weeks
- This is our typical delivery time
- Fits most lending & legal deadlines
Flexible
4–5 Weeks
- Delivered within 5 weeks
- Best price if you’re not in a rush
- Great for planning & estate work
FREQUENTLY ASKED QUESTIONS
Anything you need to know about Commercial appraisals
A commercial appraisal is an evaluation of the value of a commercial property. It considers factors like the commercial building's size, condition, location, and comparable sales in the area.
Your commercial appraisal will be performed by one of our specialized professionals. Our certified appraisers have appraised hundreds of industrial, warehouse, office, multi-family, storage unit, and all other types of commercial properties throughout Missouri, Illinois and Iowa.
Our commercial appraisers consider factors such as the improvement's size, condition, age, location, amenities, recent renovations, and comparable sales of similar properties in the area.
Yes, our appraisers will provide you with a detailed written commercial report that documents their value methodology, the property's characteristics, comparable sales data, and the final determination of your commercial properties value. An electronic copy (PDF format) of your commercial appraisal will be emailed to you immediately after it is completed. This is to ensure that you get the information you need as fast as possible. In addition, you can request a paper copy of your commercial appraisal report mailed to you for an additional fee.
Yes, appraisers are subject to government regulations and industry standards, such as those set forth by the Uniform Standards of Professional Appraisal Practice (USPAP) in the United States. These standards ensure professionalism, objectivity, and ethical conduct in the appraisal process.
Of course, you can walk and talk with the appraiser during the property inspection, but you don't have to. However, it is always a good idea to be at the property with the appraiser, even if you stay in another area/room, just in case questions arise about the commercial property.
To know exactly how much your commercial appraisal will cost please fill out our online bid form and have a bid sent directly to your inbox, or you could check out our commercial appraisal pricing page. This will give you a good idea of what we charge without having to contact us.
The duration of a commercial appraisal can vary depending on factors such as property size, complexity, and data availability. However, if you need it quickly our large staff can get it done. Please see our Turnaround Time page for more information.
Yes, we complete many commercial appraisals a year for estate purposes. We are very familiar with the IRS commercial appraisal requirements.
Typically, your lender will need to request the commercial appraisal in order to be able to use if for lending purposes. Please make sure to talk with your commercial lender before ordering an appraisal personally.
To prepare for a commercial appraisal, ensure that the property is clean and well-maintained. Note: It does not have to be perfect. Please provide the appraiser (in writing) with any relevant documents or information about recent improvements, additions, upgrades, or renovations.
If a lender ordered the appraisal, they are the client and receive the report directly. You can request a copy from your lender; privacy rules prevent us from sharing it without their permission.
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