While the Single Unit Retail Building is becoming more commonplace, historically retail shop owners have preferred to be in close proximity to other shops, thereby explaining the small number of free standing retail buildings which exist today. This trend is currently changing in favor of retailers preferring their own buildings, especially on outparcels in shopping centers and in other heavily traveled locations. This is particularly the case with retailers that can use larger spaces, thereby affording their own site with related parking, sidewalks and landscaping. Given the limited number of these properties, sales data can also be limited. This may present a challenge to appraisers unfamiliar with the Single Unit Retail Building. Issues of larger site value, site improvements and site maintenance must be considered by the appraiser.
ELLIOTT® is qualified to appraise any Single Unit Retail Building nationally, regardless of location. Our panel of commercial appraisers has experience in appraising all retail properties, regardless of the number of units or ownership scheme.