Going Concern Properties
The appraisal of many operating properties is not as simple as valuing the underlying real estate. Where a substantial portion of the value of a business asset is in the real estate, real estate appraisers are increasingly called upon to value the going concern component of the asset.
Much of what passes for real estate is not real estate at all. Real estate is “bricks and sticks”, while business is labor relations and risk management. Business is business. Real estate is real estate.
The challenge in appraising a going concern asset arises when the business is closely tied to the real estate from which it operates. More often, the components of real estate, personal property, and business enterprise value (“BEV”) are part of one package. All contribute to value. Their combination is the “going concern”.
NVC’s team of seasoned appraisers can work to separate the two values and deliver an accurate assessment of both components of a going concern asset.
Recently Completed Going Concern Property Assignments:
|
Property Name
|
Location
|
Property Type
|
|
|
||
|
Gas Station Portfolio
|
East Coast – US
|
51 Gas Stations & C Stores
|
|
.
|
.
|
.
|
|
Celebrity Lanes
|
Centennial, CO
|
Bowling & Entertainment Center
|
|
.
|
.
|
.
|
|
Five Seasons Sports Clubs
|
Several throughout Ohio
|
Health Clubs
|
|
.
|
.
|
.
|
|
The Ice Ranch
|
Littleton, CO
|
Hockey Arena (2 Rinks)
|
|
.
|
.
|
.
|
|
Waterway Gas & Wash Portfolio
|
Kansas & Missouri
|
Gas stations & Car Washes
|
|
.
|
.
|
.
|
|
Veterinarian Clinic
|
Westminster, CO
|
Animal Hospital
|
|
.
|
.
|
.
|
|
FORZA Fitness Club
|
Denver, CO
|
Athletic Club
|
|
.
|
.
|
.
|
|
Horan & McConaty
|
Lakewood, CO
|
Mortuary
|
|
.
|
.
|
.
|
|
Conoco / 7-11
|
Denver, CO
|
Gas station & C Store
|
|
.
|
.
|
.
|
|
Mile High Flea Market
|
Henderson, CO
|
Flea Market
|
|
.
|
.
|
.
|
|
Green Park
|
Commerce City, CO
|
Airport Parking Facility
|
