Industrial Building Valuation

• Valuing an industrial warehouse for a mortgage: An official valuation is essential for securing bank financing. Financial institutions require an accredited appraisal to accept the warehouse as collateral for loans or lines of credit, ensuring the mortgage value aligns with market rates.
• Challenging the cadastral value or reference value: An independent appraisal can help protect your tax interests. If the value assigned by the authorities (cadastral or reference value) exceeds the actual market value, an official appraisal serves as technical evidence to request a correction or file an appeal with the tax authorities.
• Buying or selling the warehouse: A professional valuation facilitates a fair and secure transaction for both parties. Knowing the industrial property’s current value allows for setting a price that reflects its condition, location, and the local market, instilling confidence in both the seller and the buyer.
• Updating the Real Estate Tax (IBI): An appraisal can be useful for reviewing and adjusting this local tax. If you believe the IBI you are paying is disproportionate to the warehouse’s actual value, an official appraisal can be the first step toward requesting a review.

The main factors we consider when assessing an industrial warehouse are:

• The warehouse’s location within an industrial estate
• Its features, infrastructure, and services
• Proximity to major population centers and/or transportation hubs and centers
• The urban planning parameters and permitted uses in the industrial estate
• Age, renovations, and state of repair

At Gloval, we appraise all types of industrial warehouses. There are different types, each of which fulfills a specific function. These are the main types of industrial warehouses based on their activity:

• Manufacturing warehouses: These are warehouses used for manufacturing processes, transforming raw materials or intermediate products.
• Flexible warehouses: These are specially designed to serve multiple purposes and typically have more square meters dedicated to offices.
• Logistics warehouses: These are used to store large quantities of goods.
• Specialized warehouses: These are used by companies with specific needs (data centers, cold storage, etc.).

An industrial building is a large-scale structure designed to house production, logistics, or storage activities. Typically located in industrial parks, these facilities are adapted to the specific needs of each business, featuring open-plan layouts, access for heavy vehicles, auxiliary offices, and technical facilities. Depending on local zoning regulations, they may be used for manufacturing, distribution, workshops, logistics, or even commercial purposes.

Valuing an industrial warehouse means determining its economic market value, taking into account key factors such as location, size, structure, condition, facilities (e.g., overhead cranes), and permitted use under zoning regulations. This process is carried out by a qualified professional to ensure a fair and accurate valuation.

An industrial facility is a type of property—classified as either industrial or tertiary—intended primarily for production, logistics, storage, or service activities. Unlike residential or commercial properties, it is designed to support machinery, heavy vehicle traffic, and large-scale operations. Its zoning classification and permitted use are governed by local municipal land-use regulations, which determine the activities allowed and the property’s valuation.

There are various types of industrial buildings and factories, classified according to their use and structural characteristics. Here are some of the most common:

• Manufacturing facilities: Designed to house production processes and the transformation of raw materials. They typically include areas for machinery, storage, and auxiliary offices.
• Logistics facilities: Designed for the storage and distribution of goods. They feature large dimensions, structural designs that maximize operational efficiency, and good road access.
• Storage facilities: Used solely for storing products or materials—without production processes—and generally smaller in scale than the aforementioned types. They can be automated or conventional.
• Specialized facilities: Adapted for specific activities such as data centers, industrial cold storage, laboratories, or healthcare use. They require specific technical installations.
• Flexible or multi-purpose facilities: Built to accommodate various types of use, featuring modular spaces and a larger proportion of office or administrative areas.
• Traditional factories: More complex industrial facilities that integrate production, logistics, and waste management—and sometimes even worker housing—particularly in sectors such as food processing, automotive manufacturing, or the chemical industry.

Each type of facility meets specific operational needs, and its design directly influences its value and functionality.

Various technical methods exist, including the comparative, cost, and income capitalization methods. For instance, the comparative method may be applied if similar reference properties exist in the area. The cost method is commonly used for specialized or manufacturing facilities featuring highly specific or unique installations. If the property is leased—or suitable for leasing—the income approach is appropriate. The specialist selects the method best suited to the nature of the asset and the purpose of the valuation.

Yes, Gloval conducts valuations of industrial properties used for various purposes, including logistics, manufacturing, warehousing, and other specialized uses. The company provides professional, objective valuations tailored to the specific characteristics of each property and the purpose of the valuation—such as sale and purchase, mortgage, or inheritance. Gloval is a firm approved by the Bank of Spain, ensuring the official validity of its valuations for financial purposes.

The estimated time for Gloval to complete the valuation of an industrial warehouse is 5 to 7 business days from the receipt of the necessary documentation and the site visit. This timeframe may vary depending on the complexity of the asset, its location, and the availability of the required information.

You should request a valuation for your industrial property when you need to determine its value for purposes such as a sale, a loan application, asset distribution, accounting processes, inheritance matters, or audits. It is also advisable if you plan to renovate or change the property’s use, or simply want an objective, up-to-date reference regarding its value.

The valuation of an industrial warehouse is the process of determining the market value of this type of property, taking into account factors such as location, floor area, condition, technical specifications, type of activity, applicable regulations, and—where relevant—whether it is leased or occupied by the owner. This valuation is carried out by a qualified professional and is essential for transactions such as sales, financing, inheritance matters, or accounting reports.

You can find the cadastral value of an industrial warehouse in the following ways:

• Cadastre Electronic Office: Access the site at www.sedecatastro.gob.es using a digital certificate, electronic ID card (DNIe), or Cl@ve. Enter the cadastral reference or the property address to view its details, including the cadastral value.
• IBI Receipt: The cadastral value is listed on the Real Estate Tax (IBI) receipt issued by the relevant local council.
• In-person inquiry: You can visit the Cadastre Office or the local council where the warehouse is located to request this information.

Please note that the cadastral value does not represent the market value; rather, it is a tax base used to calculate taxes. A professional valuation is required to determine the actual value.

You need a valuation of an industrial property when carrying out key transactions such as a sale or purchase, applying for bank financing, including the asset on a balance sheet, dividing assets (due to inheritance or the dissolution of a company), or determining the market value for sale or lease prior to a renovation or investment. It is also useful for tax reviews or for substantiating the value during audits.

The valuation report for an industrial warehouse includes a description of the property—covering its location, surface area, and land registry and cadastre references—as well as a technical analysis of its condition and construction characteristics, its zoning status (including applicable regulations and any existing permits), a market study of comparable properties, the valuation methodology employed, and the final value assigned to the asset based on the intended purpose of the valuation.

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.