Valuation of Commercial Premises
Official valuation approved by the Bank of Spain
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Valuations of commercial premises for any purpose
Property valuation for mortgage purposes
An official property valuation is a mandatory requirement when applying for a mortgage. The bank calculates the maximum mortgage amount based on the valuation value and not the purchase price.
Valuation for the sale of a property
An appraisal allows you to know the market value of the property and negotiate with greater confidence, whether you are a buyer or seller. It brings objectivity and transparency to the process, avoiding overvaluations or misunderstandings.
Valuation for inheritance and divorce
In cases such as inheritances, divorces or company dissolutions, a professional appraisal helps to establish the real value of the property and facilitates an equitable and fair distribution among the parties.
Appraisal for mortgage refinancing
The market changes, and with it, the value of your home. A new appraisal may allow you to renegotiate your loan, access better terms, or increase the financing available.
Official valuation for legal or tax purposes
In claims before the tax authorities, discrepancies with the cadastral value or legal proceedings (such as seizures), an official appraisal provides a solid and legally recognised valuation.
Benefits of commercial property valuation with Gloval
Official report valid for banks and public bodies
Accepted for mortgage valuations, inheritance and divorce proceedings
Approved appraisers throughout Spain
Personalised advice and prompt service
Over 40 years of experience in property valuation
What documentation will you need to appraise commercial premises?
We will provide you with personalised advice on the documentation required to prepare the valuation report for commercial premises. In general, you will need:
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Simple note updated a maximum of six months ago.
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Deed(s) of the commercial premises in the property registry.
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Energy efficiency certificate.
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Cadastral documentation.
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Photocopy of the opening license.
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If the commercial space is rented, a copy of the lease agreement and receipts for rent payments must be provided.
Factors influencing the appraisal value of commercial premises
Location of the property
Condition of the flat or house
Surface area, layout and materials
Common services and views
Energy certification
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Basic concepts of commercial property valuation
The valuation of commercial premises is the process by which a qualified professional determines the actual economic value of the property at a specific point in time. To do this, they analyse characteristics such as location, size, condition, permitted use, potential profitability and market conditions. This objective and detailed report is key for transactions such as sale, rental, financing or accounting valuation.
A proper appraisal of a commercial property will help establish a fair and competitive price, a key factor for owners wishing to sell or rent a property, whether for buyers or investors. Having this reliable data allows you to strengthen your negotiating position and reach a fair price to avoid paying more or receiving less than you should. These are some of the reasons why you might need an Official Valuation Report for a Commercial Property:
- Sale of commercial property
- Rental or transfer of ownership
- Inheritance
- Divorce
- Debts
- Catastral valuations
- Legal proceedings
You should request an appraisal for your commercial premises in situations such as:
- Applying for a mortgage or financing with security against the premises.
- Buying or selling the property, to know its real market value.
- Distribution of assets in cases of inheritance, divorce or dissolution of companies.
- Accounting or tax valuation, for example, to update the value on the balance sheet or justify it to the Treasury.
- Negotiating a lease or reviewing a rent, if you need an objective basis for setting prices.
In general, any economic, legal or financial operation that involves knowing the value of the premises is reason to request an appraisal.
When valuing a commercial property, the availability of a licence is not a determining factor. The calculated value is attributed to the property, not the business. What is taken into account is the versatility of the premises, which allows you to obtain a business licence for as many uses as possible. Aspects such as having a smoke vent, with the installation already in place and the corresponding permission from the owners’ association, allow you to obtain a restaurant business licence, making the premises more valuable than others without this installation.
The process of appraising commercial premises usually takes between 3 and 5 working days from the request to the delivery of the report, provided that the necessary documentation is available on time. This period may vary depending on whether additional documentation is required. In some cases, it may be slightly longer due to specific characteristics of the property, such as being rented, having restrictions on use or being affected by urban planning regulations.
In the appraisal of commercial premises, the valuation of certain variables that are not taken into account in other uses are especially crucial. The main ones are:
- Geographical location
- Surface area of the property
- Pedestrian density of the area
- Visibility of the premises from the public road
- Adaptability of the premises
- Access to the commercial premises
- Services near the business premises
Several methodologies can be applied to the appraisal of commercial premises. The determining factor in choosing one or the other is a prior analysis of the premises’ occupancy status and the existence or absence of a representative market for similar properties. Based on this, the most common are:
- Comparison method: This method is based on analyzing the sale price of similar premises in the same area. It is the most commonly used when there is sufficient comparable market information. With this method, in addition to obtaining the market value for sale, the rental market is analyzed for consideration, as appropriate, in the discount method.
- Income discount method: This method is applied when the premises are rented or have rental potential. It consists of calculating the value of the property based on the expected annual rent and the period of occupancy of the premises, discounting a rate that reflects the risk associated with the actual or potential rent.
- Cost method: This method is used in very specific or unique premises, where there are no comparable sales or clear rents. The land is valued and the cost of rebuilding the premises is added, deducting depreciation due to age or functionality. However, this method is rarely used.
Each method is applied according to the characteristics of the premises and the market context, and in many cases, several approaches are combined to arrive at a more accurate and justified value.
How does the existence of a current rental agreement influence the valuation of commercial premises?
A current rental contract influences the valuation of commercial premises because it requires the application of the income capitalisation method. The value is calculated based on the agreed rent, the duration of the lease, whether there are purchase options or other aspects to consider, and the tenant’s solvency through factors such as potential default. All of this is taken into account with a discount rate that allows the future evolution of the contract to be updated to the valuation date. Contracts where the rent is below market value or the conditions are unfavourable may result in a low updated value.
The valuation of a commercial premises is carried out by analyzing several key aspects:
- Location. This is decisive for the valuation. Whether the premises are located in a commercial area or not, on a main street or not, with visibility or not, etc.
- Size and number of floors. Depending on the size, it will be possible to locate one activity or another. Furthermore, if the majority of the surface area is located on the ground floor, for example, the premises acquire greater value than if said surface area is located in the basement.
- Morphology. Rectangular and open-plan shapes without narrow spaces or excessive columns provide greater flexibility and versatility to the premises, giving them greater value. Equally important is the façade/depth ratio, which measures the balance of the façade meters in relation to the depth of the premises.
- The construction and conservation status. The better the state of conservation, the less investment in renovations.
- Its versatility. If the premises are suitable for all types of uses, their value increases compared to those with limitations in this regard.
- Its profitability potential. Analysis of the potential rental market is crucial in the valuation of commercial premises given that, by their nature, in the vast majority of cases, they are intended for exploitation via rental.
The appraiser analyzes all these factors to determine a realistic value adjusted to the context.
The cost of valuing commercial premises varies depending on factors such as size, location and the type of report you need (e.g. for mortgage, sale or accounting purposes). In general, it is advisable to request a personalised quote to suit your specific needs.
The validity of a commercial property valuation under Order ECO/805/2003 is six months from the date of issue of the report, although this may vary if it does not comply with this regulation depending on its purpose and use. Therefore, if it is used for procedures such as mortgages after this period has elapsed, the valuation is no longer valid, and if it is used, for example, for a sale, the value may be out of date due to changes in the market, legal conditions or the physical condition of the property. It is necessary to renew the valuation after this period from its date of issue.
No, although the valuation of the property may be similar in content, its validity and requirements may vary depending on the case. For mortgage financing, the valuation must be official and carried out by a company approved by the Bank of Spain. In a sale, a technical valuation may suffice. For a company balance sheet or accounting purposes, an appraisal adapted to accounting criteria must be used. In each case, the purpose and criteria applied may differ, and even the format.
The official valuation of commercial premises is guaranteed to have been carried out by a company approved by the Bank of Spain, which ensures that it complies with current regulations and recognised professional standards. This means that the report is valid for official procedures, such as mortgages, and is accepted by financial institutions and public bodies. In addition, the valuer is legally responsible for the accuracy and objectivity of the valuation carried out.
Commercial property valuations are carried out by qualified and accredited professionals known as valuers or property experts. In the case of official valuations for mortgages, they must be carried out by companies approved by the Bank of Spain, which have technicians specialised in property valuation. They are professionals in the field of architecture whose training in building construction allows them to analyse all the construction characteristics of the commercial premises and whose training in valuation allows them to analyse the property market that determines the value in order to provide an objective and reliable report.
Not initially, but it is important to note that the quote includes a technical site visit and is calculated on a personalized basis using the data you have provided. The final price may vary if there are any changes.
How to request a valuation of commercial premises with Gloval?
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Request an online valuation of your commercial property
Complete the form in just 2 minutes and get an instant quote. You can sign up directly online and you will receive an email with the list of documents needed to start the appraisal without any complicated paperwork.
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We will arrange a visit to your business premises in less than 24 hours
We will contact you promptly to arrange an appointment with a certified appraiser. We will adapt to your availability and answer any questions you may have to ensure that the process is quick and convenient.
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Receive the official appraisal report by email
The delivery period of 5 to 7 business days will begin once the quote has been formally approved, the site visit has been completed, and all required documentation has been submitted. This period may be affected if additional inquiries to public agencies (City Hall, Land Registry, etc.) are required as part of the process.
Official appraisal of all types of properties
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