Restaurant properties have experienced a revolution within the past two or three decades. The local non-franchise, walk in sit down order off the menu type facility has changed little over the years, yet this segment of the market has been displaced to a large extent by other trendier properties. The trend in recent years has leaned heavily toward fast food and franchising. This trend has changed the type and style of buildings used as restaurants, rendering older more traditional buildings functionally obsolete in many cases. Therefore appraising restaurant properties has become more of a challenge than perhaps the more traditional facility of 30 or 40 years ago. Issues such as corner locations, drive-thru windows, vehicular traffic flow, take out stands and upscale architectural design have dominated the restaurant market. These issues drive value and not all appraisers are equipped to discern differences which materially affect property values of restaurants.
Our company understands the differences in restaurant property values as they pertain to changing buyer and user demands. We stand ready to provide professional opinions of value for restaurant properties located anywhere in the United States.