Residential Building at Dawn

Elwood & Martin Appraisals, LLC

Located in Sioux Falls, serving Sioux Falls

Sioux Falls Real Estate Appraisers

Whether you’re purchasing or selling commercial real estate, developing land as an investment, or conducting any other type of real estate transaction in South Dakota, Northwest Iowa and Southwest Minnesota, a professional property appraisal will streamline the process and establish the fair market value of any property. Most official real estate forms and documents include a line item of the estimated property value, yet only a licensed and certified appraiser is qualified to provide a completely objective evaluation along with a detailed and comprehensive written report.

Multifamily - Commercial - Industrial– Subdivision – Special Use Properties

Appraisal Reports

What can a certified appraiser do for you? professionals We are fully licensed in South Dakota, Iowa and Minnesota and are available to assist you with:

  • Appraisals for buying, selling or financing commercial real estate
  • Appraisals for divorce settlements
  • Estate valuation
  • Pre listing services
  • Foreclosures

Following the onsite Elwood & Martin Appraisals, LLC appraisers estimate the market value of the real estate and comply with the regulations set forth by the Uniform Standards of Professional Appraisal Practices (USPAP). For mortgage lending appraisals, we comply with USPAP and FIRREA.

Our services include:

  • Analysis of the local market conditions
  • Estimation of the highest and best use of the site and as improved
  • All relevant approaches to value needed will be completed to estimate a well-supported value

The Appraisal Process

The appraisal process includes the research, compilation and analysis of all pertinent data as it relates to your specific requirements. Elwood & Martin Appraisals, LLC provides appraisal Reports and Restricted Use Appraisals.

Interior Viewing

We will view the interior and exterior of the property as well as taking measurements and photographs of the property.

Property Condition

Includes the specifics of construction, property layout, number of rooms and specific features, equipment; improvements and renovations.

Neighborhood and surrounding areas

An analysis is made on a property’s proximity to services, facilities and amenities as they may (or may not) relate and affect its market value.

Property Classification

Public records are analyzed to confirm sales and make comparisons in the particular Sioux Falls region. Buyers, sellers, realtors and local lenders are also interviewed in verifying comparable sales. A range of public records and sources are used including zoning records, tax data, professional associations and other applicable publications.

Calculating the Market Value

Sales Comparison

The Sales Comparison Approach compares sales of similar properties with the subject property. Each comparable sale is adjusted for its inferior or superior characteristics. The values derived from the adjusted comparable sales form a range of value for the subject. By process of correlation and analysis, a final indicated value is derived.

Cost Approach

The Cost Approach is summarized as follows:
Cost New
(-)Depreciation
(+)Land Value
=Value

Income Capitalization Approach

The Income Capitalization Approach converts the anticipated flow of future benefits (income) to a present value estimate through a capitalization and or a discounting process.

Elwood & Martin Appraisals, LLC provides complete appraisal services for:

Commercial properties including, but not limited to:

  • office
  • retail
  • medical office
  • dental clinics
  • banks
  • industrial buildings
  • restaurants
  • fast food properties
  • big box retail
  • and much more

Special use appraisals including, but not limited to:

  • golf courses
  • churches
  • convenience stores
  • hotels
  • camp grounds
  • mobile home parks

And more:

  • Multi-Family properties
  • New construction appraisals
  • Condominium appraisals
  • Acreage appraisals
  • Land appraisals
  • Subdivisions analysis, both existing and proposed

Please call us for more information or for a consultation on your commercial, multifamily, special use or industrial property.

CALL NOW! (605) 271 - 0351