Fortier Mattila Appraisals Inc. has been active in the Industrial Commercial Investment (ICI) market since 1971. Our team of AACI, P.App accredited professional appraisers are liscenced by the Appraisal Institute of Canada (AIC) and have the qualifications and experience required by Canadian Financial Institutions, Banks, Credit Unions and Government Authorities. Our AACI, P.App appraisers are proficient and experienced in the valuation of:
- Apartment Buildings
- Assembly Halls and Churches
- Car Wash (Truck Wash)
- Commercial Retail and Office
- Convenience stores and Fuel Stations
- Dealership (Automotive, Agricultural, etc)
- Hotels and Motels
- Mixed Use (Residential/Commercial)
- Mini-Storage (Self Storage)
- Seniors Housing and Group Homes
- Shopping Centres and Strip Malls
- Special purpose
- Workshop and Warehouse
Appraisal Institute of Canada Licensed Commercial Appraisers. Our professional team of 9 includes; (3) AACI, P.App designated appraisers; (2) CRA, P.App (Canadian Residential Appraiser, Professional Appraiser) designated appraisers, dedicated office manager, research manager and 2 office administrators. Our professional staff is comprised of appraisers with accounting and construction backgrounds as well as appraisers who own and manage various types of apartment and commercial investment properties. All commercial assignments are completed by licensed AACI, P.App members of the Appraisal Institute of Canada. In summary holders of the AACI, P.App designation have a 4 year bachelors degree, 15 real estate courses through UBC, guided case study, minimum 2 years experience, written and oral examination.
Our office has AACI, P.App designated commercial appraisers approved by national financial institutions and regional and local credit unions, mortgage brokers. We complete work for various municipal, provincial and federal government organizations including Saskatchewan Department of Highways, Saskatchewan Ministry of Agriculture, Public Works and Government Services Canada. We also complete litigation assignments and expert witness testimony for various local, regional and national law firms. David Fortier, AACI, P.App has been qualified as an expert witness by the Court of Queens Bench (Saskatchewan) and testified in open court.
A) Direct Comparison Approach – In this approach, recent sales of similar properties are analyzed. Location, age/condition, building size are of particular importance when selecting comparable sales. These sales are then compared to the subject property and adjusted for differences. The adjustment reflects the likely market reaction to the difference between the subject and each of the sales. After adjusting each of the indicators a final estimate of value is determined. For vacant properties a market derived price per acre or square foot is often used, whereas for improved properties a price per square foot of building area and a building residual value per square foot are often used.
B) Cost Approach – The estimated cost to construct the building(s) is then determined through analysis of current construction costs and sales of new construction. The contributory value of the extra features is then estimated though a comparison of cost and market indications. An appropriate depreciation rate is developed and applied to arrive at a final estimate. The depreciated value is then added to the value of the raw land that was estimated using the Direct Comparison Approach.
C) Income Approach – In this approach, the actual and market rental revenue streams of a property are analyzed. Vacancy, bad debt and typical expenses are subtracted to estimate net operating income. Comparable sales are identified to which the relationship between sale price and income is analyzed. A market derived capitalization rate or income multiplier is applied to the subject to estimate market value.
Our commercial reports are commonly used for:
- First Mortgage Placement (Purchase Financing)
- Equity Financing (Refinancing)
- Construction Financing (As Proposed Valuation and Progress Inspections)
- Re-sale purposes (Vendor pre-marketing reports)
- Capital Gains and Financial Planning (Including Retrospective Valuation)
- Litigation (Arbitration, Foreclosure, Divorce, Estate)
- Expropriation (Compensation)
- Insurance Claims (Actual Cash Value and Replacement Cost)
- Market Analysis (Market rent, vacancy, income stabilization)
- Feasibility Consulting
Pricing, Timelines and Report Inclusions
Offices located in the Battlefords, Kindersley, Meadow Lake, Prince Albert, Saskatoon, and Warman, results in reduced timelines, decreased mileage charges, competitive pricing, and most importantly local experts. We are proud to offer all inclusive pricing on all of our projects which includes travel, mileage, inspection, report writing and submission. Our office uses a combination of expertise, technology, and collaboration to ensure projects are completed on time and on budget. For more information on what is included in our commercial appraisals:
Service Area, Requesting services
The map below shows Fortier Mattila Appraisals Inc. offices across the province. To order a commercial appraisal click Request Quote to complete our online appraisal request form, or you can contact our office at 1-844-937-5073.