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Answers (3)
- wetdawgs
- Contributions:26792
Zillow focuses on residential properties, and tries to avoid putting Zestimates on commercial properties.
- shashapetty411
- Contributions:49
I have a PUD bed and breakfast inn in 4 neighboring houses, one of which is for dining only, the one without bedrooms, and zillow does not seem to value it correctly. I would like a value as a business or closer to value for the square footage. I edited the houses and brought the value up greatly but can't do anything for the Reception House. The neighborhood already has some office general zoning.
- David Balfour, "DavidBalfour"
- Contributions:85
Good question! It's not simple to answer, especially based on the information available. I'll give it a shot...
#1) Is the property approved to be used as a business, as could be the case when zoning has changed or a variance approved? Unless there is a unique opportunity, most commercial buyers will request the property is "ready to go" as a commercial property. So, value of it depends greatly on these things.
#2) Are other homes nearby being used/converted into businesses? If your property fits the trends in the hyper local area, value may be a bit better, as adjacent business may add to the draw of the area. So, conformity to surrounding properties may also have an effect on value.
3) The fact the property has "bedrooms" may or may not be relevant. Total square footage, and practicality of the space play bigger roles in determining value of the property. For example, if the bedrooms are going to be used as offices, you would then compare to similarly used structures in close proximity.
Sorry to not directly answer your question, but I hope I am able to give some insight regarding the way buyers establish their perception of value to a home's potential use as a business. Have a great day.
Can I get values of my residential property used as a business,without bedrooms?
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