An appraisal of a commercial property can cost $1,000 to $5,000 depending upon the location and size of the property. An appraisal for a commercial vacant lot ranges from $300 to $500.
An appraisal, performed by a trained appraiser, is an unbiased evaluation of the value of a property. The cost of the appraisal includes the appraiser's time and a comprehensive appraisal report. The appraisal report for a commercial property often details an identification of the property or parcel number, the purpose of the appraisal, the methods used to appraise the property, and conditions that affect the property's value. In addition, many commercial appraisal reports offer recommendations for the best use of the commercial property.