Member of the

Appraisal Institute

Member of International Council of Shopping Centers

Special-Purpose Property Appraisal Experience

 

What is a Special-Purpose Property?

Special-Purpose Properties, such as public buildings, houses of worship, schools, day care facilities and clubhouses, are building’s with unique design, layout, or special construction materials that were required for their original intended use resulting in them having a limited market.  These properties have limited potential to be used for another purpose as they are currently designed.  Usually they have limited conversion potential.  Due to their limited market they are also referred to as Limit-Market Properties.  Special-Purpose and Limited-Market Properties may be appraised based on their current use if that use remains economically viable or they may be appraised based on an alternative use.

Health and Fitness Properties

 

Health and fitness properties leased by XSport Fitness, LA Fitness, YMCA and several independently operated fitness properties.

 

Health and Fitness Properties

A recent appraisal assignment was a proposed 50,000 square foot free-standing building on a ground leases.

 

Several appraisal assignments involved mixed use buildings and their attached public parking garages.  The health and fitness club was a major tenant occupying as much as 40,000 square foot of the leasable area.

 

 

Specialty fitness centers such as this independently operated facility devoted indoor soccer.

 

An Indoor Soccer Facility containing 75,000 sf

 

Schools and Religious Properties

Religious  and Religious School Properties

Appraisal assignments include religious facilities of many different denominations and creeds.

 

Several religious facilities included on-site schools, on-site housing and other multi purpose uses.

 

Some properties were of older facilities that were planned to be converted from its religious use to an alternative use.

 

 

 

 

 

 

 

Preschools such as Crème de la Crème;

privately operated schools and colleges.  .

 

 

 

 

 

 

 

 

 

 

Industrial Special Purpose Properties

 

Refrigerated Storage and Distribution Warehouse

 

Refrigerated Storage and Distribution warehouse containing 250,000 square feet of freezer, refrigerated and climate controlled storage.  We appraised this property and a proposed expansion.

 

 

 

 

 

 

Saturn Integrated Automobile Manufacturing and Assembly Facility is one of the largest automobile manufacturing and assembly plants in the United States.  Body parts are stamped in the Body Panels building and assembled in the Body Fabrication building.  The space frame and body parts then move into the Paint Shop building.  At the other end of the complex, in the

Powertrain building, engine parts are case and then assembled along with the transmissions.  Interior components for the auto cockpit are molded from polymer and pieced together in the

Vehicle Interior Systems building.  All components flow into the General Assembly building where the components are assembled into a finished automobile.

Saturn Automobile Plant, Spring Hill, Tennessee

 

The property contains 6 million square feet among ten buildings on an 800 acre site. The appraisal was prepared for use in litigation.