Real Estate Division

CPD 128 - Retail Property Valuation

Pre-requisite: Students will benefit from a working knowledge of the theory and application of the three approaches to value, in particular the income approach. Recommend BUSI 331 / CPD 131 or equivalent (e.g., Trading Services / real estate sales course).

This course is intended to introduce further practical applications of how appraisal theory is applied in the valuation of retail buildings. Lesson 1 outlines the defining characteristics of the common types of retail real estate developments, familiarizing readers with the design and construction of retail properties, and emphasing the business factors that drive retail real estate decisions. Lesson 2 provides an overview of the appropriate valuation methods to undertake when appraising retail projects. Systematically, the student will review the key aspects of each of the approaches to value as they relate to retail appraisals. This lesson also introduces emerging trends in retail property valuation, with an overview of the types of assignments the appraiser is likely to encounter, illustrated with practical examples and case studies.

Course Outline

Foreword: Introduction to Professional Development Courses

Lesson 1: Design and Construction of Retail Properties

  • Instructor's Comments
  • Designing Retail Properties: Types and Formats
  • Construction of Retail Properties
  • Retail Property Inspection and Analysis
  • Summary
  • Review and Discussion Questions

Lesson 2: Appraising Retail Buildings

  • Instructor's Comments
  • Retail Market Analysis
  • Retail Lease Analysis
  • Valuation Approaches
  • Retail Appraisal Case Studies
  • Case Study 1: Appraisal of a Street-Front Retail Property
  • Case Study 2: Appraisal of a Retail Strip Mall
  • Summary
  • Review and Discussion Questions

Afterword

  • The Final Quiz

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