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Industrial land site=ad valorem suit

Discussion in 'Urgent - Help Needed' started by ericpope, Feb 24, 2006.

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  1. ericpope

    ericpope New Member

    0
    Aug 26, 2004
    Professional Status:
    Appraiser Trainee
    State:
    Louisiana
    Hello everybody, I have the honor of appraising a railcar facility however just the land. It could be considered a prime site although it is located in RURAL Louisiana. +/- 28 acres, adequate highway frontage, rail spur to a N/S rail, and is located in an area with adequate blue-collar workers. My comps are what is killing me..... all over Louisiana...range $3,000/ac to $20,000/ac. There are some location adjusmtents however where else can I adjust from? Location, size, rail, road frontage,.....they are all over the place....HELP!
     
  2. xm39hnu

    xm39hnu Senior Member

    0
    Jul 10, 2003
    Professional Status:
    General Public
    State:
    Florida
    Eric,
    When motor freight facilities are appraised, the typical unit of comparison is the number of docking bays the facility can accommodate, not just the acreage. You need to find out what rail freight companies believe constitutes a "good" facility, versus one which is a PITA to work in. Get the right unit of comparison down, document it, and your work should be easier.
     
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