Getting an estimate is an important part of the buying and selling process, whether you’re working with a gas station broker, hotel broker, or you’re doing things independently. An estimate allows you to know whether or not a property is a worthwhile investment before you go ahead with a purchase or sale.
Multiple factors come into play when estimating the value of a property like a home, business, gas station, or hotel. Unfortunately, assessing a business property is a little more complicated than assessing home value.
The value of a gas station is based on a lot of different factors. Simple things like location, size, and the age of the building are combined with more complicated, fluctuating factors like fuel volume, area demographics, growth, accessibility, what other kinds of services can currently be offered, and potentially much more.
Similar to gas stations, a variety of different factors come into play when evaluating the value of a hotel or motel. Things like regional growth and demographics, location, size, and how long the hotel has been in business all come into play, but more unique aspects like the net profit over a certain period and hotel reviews can all play an important role.
Perhaps, but there are two reasons why the highest level of accuracy and reliability could only be obtained by a Fortune Valuation, First, our decades of experience valuing properties of this type, we employ proven valuation techniques unique to our industry. Second, and even more important, is that Fortune has access to a broad array of comparable sales. Since sales prices are not usually public record this information is precious, and appraisers often call Fortune to obtain it. In general, a valuation is only as good as information regarding comparable sales that support it.
Getting an accurate estimate is important. It can help you get the absolute best value for your hotel, motel, or gas station. As your broker, Al Rosellini at the Fortune Company will provide a free, accurate estimate of the value of the property you’re looking to sell.
With his experience and industry knowledge, Al can help you with every step of buying or selling, taking the stress off you so that you can make the best decisions for your business. Contact the Fortune Company today, or take a look at the current hotel listings or gas stations for sale.