Mill is a term which was used more frequently in the past than today, but is still in use to some extent. While definitions may vary, many have used the term to describe facilities that process raw materials. Some of the more typical types of Mills include Steel Mills, Cotton Mills, Corn Mills, etc. These properties are usually single purpose properties and the product generated is often a bulk material to be used in another process. Mills may vary in their size, location, type and purpose, making a decision of highest and best use critical to the appraisal process. It is not unusual to observe functional obsolescence in Mill properties, especially those with older improvements.
Our firm is capable of providing appraisals on Mills anywhere in the United States and in some foreign countries. We understand how to assess the functional aspects of a Mill and how these properties appeal to the market.