Every appraiser knows while inspecting a property, a surprise could be waiting just around the bend: as we cross a train track, out of nowhere a train approaches; as we explore an abandoned warehouse for the source of a rattling sound, a rattle snake slithers by …so what happens when you find yourself appraising on an island?
September 21, 2020
Right of way projects directly impact the real property value of a convenience store. Change in access can limit site maneuverability or impact traffic flow into or out of the site. Ways to address changes in access include changing the highest and best use of the site after the or curing the maneuverability issue created. Temporary construction easements (TCE’s) provide unique problems, as they do not exist in perpetuity and their impact cannot be considered as such. In this article, we’ll delve into several case studies which exemplify the impact that changes in access and proposed easements can have on a convenience store, and illustrate the methods we used to address each issue.
September 4, 2020
Gas station convenience stores are ubiquitous across transportation right of way projects, but ironically, they are some of the most challenging property types to appraise in eminent domain proceedings. We’ll explore the challenges for appraisers valuing this property type for right of way. In this article, we’ll explore the basics of the specific issues that arise when valuing convenience stores.