PWSD (Public Water Sewer District) Appraisal

[gbailey1107]

I have been asked to appraise a PWSD in Missouri. Has anyone ever had to value one of these? I really have no idea where to start. The client is asking for a nothing to in-depth. I have been provided with the last three years of financials and they are looking for an income approach only. I have been a Certified General Appraiser for over 20 years and have never come across something like this. Any ideas?

Thanks!

 

[Gobears81]

What is the intended use?

 

[Terrel L. Shields]

Well...the income approach is likely the way to go but exactly how...I'm not sure. Is it even a RE appraisal rather a business appraisal

 

[Red Flint]

Respirator during the site visit.

 

[sputnam]

I have been asked to appraise a PWSD in Missouri. Has anyone ever had to value one of these? I really have no idea where to start. The client is asking for a nothing to in-depth. I have been provided with the last three years of financials and they are looking for an income approach only. I have been a Certified General Appraiser for over 20 years and have never come across something like this. Any ideas?

Thanks!

The income, expense, and cap rate information is probably out there somewhere. I have no idea where. Maybe some water/sewer trade organization?