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BUSINESS AND ECONOMY

Industrial property assessments

Industrial property assessments

See the market trend report

Businesses and other organizations use industrial properties for manufacturing, warehousing, distribution, storage, contractor workshops, and more. These types of properties typically have limited interior building finishes.

We value industrial properties by comparing one property to other comparable sold properties; this is called the sales comparison approach. Characteristics that typically impact the value of an industrial property are:

  • building type: single, multi-tenant or out building
  • assessable building area
  • actual year of construction
  • location
  • interior finish ratio
  • site coverage
  • land use

Using the sales comparison approach, here are some characteristics that typically impact the value of industrial condo properties:

  • assessable area
  • actual year of construction
  • location
  • interior finish

Influencing the value of the property


The following considerations and variables influence the property value.

Building type

  • Industrial warehouse single tenant (IWS), which consists of one or two bays/units
  • Industrial warehouse multiple tenant (IWM), which consists of three or more bays/units
  • Industrial outbuilding (IOBS)

Assessable area

The assessable area is a structure’s total area, measured to the outside exterior walls, excluding the mezzanine and basement levels.

Actual year of construction (AYOC)

The year of building construction according to building plans.

Location

Certain industrial parks may sell at a premium or a discount.

Interior finish ratio

This is the per cent of finished area inside the building (e.g. office or retail finish). It’s calculated by dividing the finished area by the total assessable area.

Site coverage

Site coverage is calculated by dividing the total building footprint (excluding outbuildings) by the total site area.

Depending on size, typical site coverage ranges from 15 - 45 per cent. Lower site coverage typically indicates a higher utility of the land. In cases where the site coverage is atypically low, we may apply a land value adjustment.

Land use

The land use designation refers to the permitted and discretionary uses of a parcel un­der Calgary’s Land Use Bylaw. The land use of industrial property governs what can and cannot be built on a parcel of land. This variety of land use influences the land value.​​​​

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Assessment Search is our online resource for property and business owners to access more detailed information about their assessment and property details.

We do regular research with businesses to better understand the outlook and viewpoint of the business community. If you are a business owner, leader or manager, join our online business research panel, Business Perspectives.

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