Detached Garage vs. Workshop

[Odumland]

A brick home has a 2-car garage (attached) PLUS a ±1,000 SF brick 1.5 story detached garage (complete with insulated 2-car garage door, concrete foundation, 2-car driveway, sidewalks, commercial-grade European block curved retaining wall, 2 separate exterior access doors with glass decorative glass windows, upstairs storage, 7 insulated windows, 110 electrical & light fixtures throughout PLUS 220 on main level, no drywall). Currently cars are not parked inside due to furniture being stored until donated.

IS THE ABOVE-IDENTIFIED 1.5-STORY DETACHED BRICK STRUCTURE A "2-CAR DETACHED GARAGE WITH UPSTAIRS STORAGE" OR A "WORKSHOP" IN DEFINITION AND VALUATION? FYI, THE BUILDING IS LARGE ENOUGH ON THE MAIN FLOOR TO HAVE 2-CARS & A WORKSHOP.

While I suspect I know the answer, your professional opinions are greatly appreciated.

 

[The Bob]

I'm assuming this has to do with an appraisal?

Sight unseen and based on your description, I would call it a "detached garage with storage over", or something similar. More importantly, it could be an over improvement in that the contributory value is a lot less than what it cost. I've run into this situation before. Usually the second, detached garage does not add nearly as much value as the primary garage. But they do have appeal to certain buyers llike small business owners that need storage (small HVAC contractor etc...), car enthusiast, hobbyists etc...

Best what to tell is find recent sales with the same feature and compare to other sales with just the one attached garage.

 

[Webbed Feet]

Why is it a concern what label is used?

 

[Restrain]

It is whatever you want to call it. This is one where a description is more accurate than a name. For example, someone may take the building and use it as a metal or woodworking shop, filling the space with materials and equipment. Conversely, you can use it for vehicles, and it becomes a garage. I realize that this is not the answer you want, but it's the best that I can give you. One or two-word descriptions are often not accurate.

 

[Wm. Hattaway]

I'm assuming you have an appraisal that did not reach a value you were hoping for and after reviewing the appraisal you feel the description of the detached building is inaccurate. And really all it is, is a description. I would suggest that even if the appraiser changed the description, the value would remain the same.