Retail/Shopping centers & condos are multi-occupancy structures that contain more than one rental space for any type of retail business, office or commercial venture.
For appraisal purposes, a county appraisal district (CAD) typically places Multi-occupancy Retail and Shopping structures into the categories shown above based on their highest and best use and will derive two different values when appraising a property: Market Value and Equity Value.
To determine the Market Value, any of the approaches may be used: Income Approach, Cost Approach or Sales Approach.
The Equity Value, also known as Uniform and Equal, is based on the CAD’s valuation of Comparable Properties and can also be used to fight for a lower value.
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