Restaurant properties have experienced a revolution within
the past two or three decades. The local non-franchise, walk in sit down order
off the menu type facility has changed little over the years, yet this segment
of the market has been displaced to a large extent by other trendier
properties. The trend in recent years has leaned heavily toward fast food and
franchising. This trend has changed the type and style of buildings used as
restaurants, rendering older more traditional buildings functionally obsolete
in many cases. Therefore appraising restaurant properties has become more of a
challenge than perhaps the more traditional facility of 30 or 40 years ago.
Issues such as corner locations, drive-thru windows, vehicular traffic flow,
take out stands and upscale architectural design have dominated the restaurant
market. These issues drive value and not all appraisers are equipped to discern
differences which materially affect property values of restaurants.
Our company understands the differences in restaurant
property values as they pertain to changing buyer and user demands. We stand
ready to provide professional opinions of value for restaurant properties
located anywhere in the United States.