The Gorman Group is a full service commercial real estate company. Our specialty is to provide appraisals of complicated or unusual properties. We provide these services on a nationwide level. Typical projects include appraisals of golf courses, historic buildings or airport lands. The picture above is of a racetrack we did in Wisconsin.
The work we do is typically avoided by the typical general appraiser because it is so unusual. For example, the typical appraiser does not know when to use a Capitalization Rate in doing a golf course as opposed to using a Gross Income Multiplier. Some appraisers are still using a cost approach or a price-per-hole methodology. Recognizing the correct analysis is obviously of paramount importance.
Historic properties are another example where other appraisers can fall short. Some historic properties can bring a premium while others do not. Knowing what to look for to see where the property falls comes from experience.
The work we do is not mechanical…we cannot just look at a number of other sales in the neighborhood and through a number on a property, it requires actual thinking…
Specializing in these types of properties provides us with the experience to “think outside the box” while doing other appraisals.
Other services we provide include:
Network Location Studies
Consulting varies – it ranges from simply helping clients ascertain their real estate needs to developing acquisition plans. Very often we do not charge for these types of services.
On occasion, we have even provided marketing assistance – from recommending Realtors to actually listing and selling properties. We can even help with the design of sales brochures.
Litigation support ranges from the analysis of other reports and helping attorney’s focus on weaknesses in them, to the development of proactive documentation (of course we would not be acting as appraisers when developing proactive documentation).
Network Location studies are key to site selection – particularly when dealing with multi-unit facilities. It is important for our clients to know that a new facility will not encroach on the market of existing facilities, but it is just as important to choose a new location that enables the client to siphon customers from competitors.
Cost Analysis – sometimes clients need only to know what it would cost to replace their existing structure – not the market value. In other cases clients need to know how much it would cost for a new facility. We perform those services.
Negotiations – having taught negotiation skills, I have found that it is often beneficial to have a third party negotiate transactions – it takes the “ego” out of the process.
Feasibility studies – Will this project work for my company? is a question that is often asked and it generally has to do with money. It is not uncommon for a corporation to need a larger or new space and there needs to be an analysis as to the cost versus the benefit of the proposed project.
If you have real estate needs, the Gorman Group will help or find the right person to help you resolve your problem.