Zillow is used by realtors and mortgage professionals to quickly check the market value of a home. There must be a site that does this for commercial property. Zillow is free. I am looking for the commercial equivalent of Zillow. All I can find is softwares and reports to purchase.
4 Comment(s)
Not much of an answer, I know, but how is that Zillow working out for you in terms of being on the money on the res side?
hey. offers a site where you list for free, but if they find you a renter, you pay a small fee after the lease is signed. let me know if you have more questions.
I don’t think there is one. You can look at your local commercial brokerage website; they might have sold properties there. You can also consult your local commercial agent for a CMA. You might also want to check out propertyshark.com (not sure if they have commercial properties).
No real estate or mortgage professional I know uses zillow for anything. Zillow is awful. Here’s an important article to read about Zillow:
Okay, now that I got that off my chest, let me get to your question. There is no site for valuing commercial properties. The reason is because commercial properties are not typically valued in the same way as residential properties. Commercial properties typically are valued based on the income they generate, and not on recent sales of similar properties within a certain radius (aka the CMA approach).
The most common way of determining value of commercial properties is done with the following formula:
Net operating income / Cap Rate* = Sales Price
* Cap rate is the rate of expected return a property will return on an owner’s investment. The market determines the cap rate, and varies from zip code to zip code.
Not much of an answer, I know, but how is that Zillow working out for you in terms of being on the money on the res side?
Lanky | Sep 30, 2009 | Reply
hey. offers a site where you list for free, but if they find you a renter, you pay a small fee after the lease is signed. let me know if you have more questions.
bar22bie | Oct 1, 2009 | Reply
I don’t think there is one. You can look at your local commercial brokerage website; they might have sold properties there. You can also consult your local commercial agent for a CMA. You might also want to check out propertyshark.com (not sure if they have commercial properties).
tianaramal | Oct 3, 2009 | Reply
Zillow is a joke!
No real estate or mortgage professional I know uses zillow for anything. Zillow is awful. Here’s an important article to read about Zillow:
Okay, now that I got that off my chest, let me get to your question. There is no site for valuing commercial properties. The reason is because commercial properties are not typically valued in the same way as residential properties. Commercial properties typically are valued based on the income they generate, and not on recent sales of similar properties within a certain radius (aka the CMA approach).
The most common way of determining value of commercial properties is done with the following formula:
Net operating income / Cap Rate* = Sales Price
* Cap rate is the rate of expected return a property will return on an owner’s investment. The market determines the cap rate, and varies from zip code to zip code.
homesbydamon | Oct 5, 2009 | Reply