This IAAO position paper provides guidance for the valuation of big-box retail properties. Over the last several years, issues involving these properties and theories about how to value them, such as the dark store theory, have resulted in great debate within both the appraisal and legal communities. Even though this paper concentrates on arriving at the market value of the fee simple interest of these properties, it provides guidance regardless of the specific law of a jurisdiction.
Valuation of commercial property
This position paper was completed through the dedicated efforts of the Special Committee on Big-Box Valuation comprising the following: Paul Welcome, Stephen I. Baker, Tom Hamilton, Mark T. Kenney, Peter Korpacz, Will Shepherd, Irene E. Sokoloff, and Margie Cusack.
International Association of Assessing Officers Special Committee on Big-Box Valuation (2018). Commercial big-box retail: a guide to market-based valuation. Journal of Property Tax Assessment & Administration, 15(1), 47-67. Retrieved from https://researchexchange.iaao.org/jptaa/vol15/iss1/3