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Insights on commercial real estate markets, financial modeling, and investment analysis — written for professionals who make decisions based on data, not headlines.

how to evaluate commercial real estate cover image
Valuation

How to Evaluate Commercial Real Estate: 7 Key Investment Metrics

Most guides to evaluating commercial real estate stop at cap rate and cash flow. Institutional lenders and LPs go further, stress-testing every assumption before committing capital. The metric most investors skip determines whether the rest of the analysis actually holds up.

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Seva Eremkin July 6, 2026
Analyst working on sales comparison approach in commercial real estate
Valuation

The Sales Comparison Approach in Commercial Real Estate: Comps, Adjustments, and Limits

The sales comparison approach works differently in commercial real estate than most explanations suggest. Comp data comes from CoStar, not the MLS. Adjustments cover six categories specific to lease terms, clear height, and submarket quality. And for several property types, the method is the wrong tool entirely.

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Seva Eremkin June 29, 2026
cost approach to value cover
Learning

The Cost Approach to Commercial Real Estate Valuation: When It Applies and How It Works

The cost approach to value does not appear in most CRE appraisals by accident. It appears because income data is missing, comparable sales do not exist, or the building was just delivered. Understanding which situation triggered it, and what the replacement cost conclusion actually means, changes how a developer or investor reads the appraisal in front of them.

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Seva Eremkin June 24, 2026
Income Method of Valuation Direct Cap and DCF Explained cover
Learning

The Income Approach to Commercial Real Estate Valuation: Direct Cap vs. DCF

The income approach formula has three variables, but only one can be verified from the rent roll. Cap rate selection and NOI construction both require judgment, and that judgment is where appraisals diverge and lenders push back. This guide covers both direct capitalization and DCF at working depth.

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Seva Eremkin June 23, 2026
Commercial real estate appraiser reviewing income approach and sales comparison data
Learning

How to Value Commercial Real Estate: The 3 Approaches Explained

A commercial property can produce three legitimately different appraised values at the same time, and all three can be defensible. The method that drives the final concluded value depends on the asset type, and no current appraisal guide explains which method appraisers actually lead with and why.

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Seva Eremkin June 22, 2026
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