The Average Commercial Appraisal Cost Was $2,529 Nationally Per Latest Report

If you ever wondered how much a commercial property appraisal costs then this is the right article for you.

What is the average commercial appraisal cost?

According to the latest LightBox CRE Market Snapshot Q1 2024, which highlights trends in lender-driven appraisals, including the latest industry benchmarks on fees, turnaround time and metro-level performance, the average appraisal fee was $2,529 nationally which was flat compared to the prior quarter, but down a significant 18.6% from a year ago ($3,106) due to the uber-competitive nature of the market.

Please keep in mind that this was a national appraisal fee for mostly lender based commercial appraisal work. Commercial appraisal fees tend to be higher on the West Coast and or major metropolitan areas. In general, commercial building appraisal costs range widely and depends on the scope of the appraisal assignment. But most range between +/-$2,000 to +/-$4,000. Please note that this can easily be more dependent on the complexity and urgency of the completion date.

Do you need a quote for a commercial property appraisal?

If you find yourself needing commercial appraisal services, please let Vanguard Realty Advisors assist you.  We can help you navigate and understand the commercial appraisal process. Please contact us to request a quote.