Paul Turner, director of J.H. Berry & Gilbert's appraisal and valuation services division, offers insights into this type of appraisal in an exclusive interview.
“The Cost Approach tends to set the upper limit of value before depreciation is considered, and is most applicable for proposed or recently-constructed properties, where minimal depreciation has accrued.”
“Employers are increasingly offering their staff flexible work arrangements and options to work remotely, so it naturally begs the question of how much physical office space is still needed.”