Winston-Salem Office Buildings at Low Vacancy Levels

A recent real estate appraisal company's report of the Winston-Salem office building market has found that office vacancies are near their lowest levels in more than 20 years. Asking rents for both Class A and Class B buildings have shown a generally upward trend, according to Michael Clapp & Associates in Winston-Salem, appraisers that work in the Triad and across the state. 

These metrics can be very helpful in estimating the fair market value of properties when utilizing the income approach to value. Clapp's market survey provides exactly the type of information needed for property tax appeals cases, given that case law states that, in applying the income approach, one should use market metrics, such as market rental rates and market vacancy rates, rather than the specific property metrics—actual rental rates, actual vacancy rates, etc..

Clapp's Winston-Salem Office Building Survey for July 2017, their 50th survey of a sample of major office buildings, can be viewed here.

Enjoy!

About the Author

John Cocklereece Jr

John A. Cocklereece, Jr.

John Cocklereece concentrates his practice on property tax appeals, general business law, tax controversy law, and estate planning and administration law.
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