Earl Weiss
Well-known member
- Joined
- Aug 31, 2007
- Messages
- 6,373
- Reaction score
- 945
- Points
- 113
Income producing Real estate is properly valued based on income, by apparaisers, Lenders, and investors, and apparently even the IRS. It may be a Walgreens, Post Office or Car Wash.T
No. Real estate appreciates... But if the sale price is higher that what the real estate actual value is, then there is a goodwill portion.
So this is the reason that I say that car washes are unique: you can't have the business without the special use building. And if you have the special use building (think self serve wash) without any business - what is the value? Likely its the cost of the land plus some for utilities less demolition costs of leveling the property....
Your opinion is that somehow car washes should be treated differently.
America is a wonderful country. People are entitled to their opinions.