1DS - Auto and RV Dealerships
Valuation of auto and RV dealerships using the three approaches to value.
Online class via Zoom
Event Details
Instructor: John Zukowski, MAI, SRA, IAO
Automobile and recreational vehicle dealerships are complex commercial properties combining showrooms, offices, service facilities, parts departments, vehicle display areas, storage yards, and sometimes excess land. Their value may be influenced by location, highway exposure, franchise requirements, manufacturer image programs, site configuration, environmental concerns, and changing vehicle-retailing trends.
This six-hour seminar examines dealership valuation from the perspective of assessors and appraisers. Participants will learn to analyze the physical and operational differences among automobile, RV, used-car, and specialty dealerships. Particular attention will be given to
separating real property from vehicle inventory, equipment, trade fixtures, franchise rights, goodwill, and business enterprise value.
The seminar applies the cost, sales comparison, and income capitalization approaches to dealership properties. Topics include highest and best use, land and building analysis, functional and external obsolescence, comparable-sale selection, dealership leases, sale-leasebacks, market rent, capitalization rates, and excess land. Practical case studies will demonstrate how to develop, reconcile, document, and defend a credible dealership valuation.
Continuing Education Hours / Re-Certification Credits
The Institute of Assessing Officers will award six (6) re-certification credits to all Institute members who attend this seminar. Eligible assessors and county directors who attend will receive education credit and reimbursement from ORPTS, pursuant to their rules.
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Cameras are required to be on at all times during the class in order to receive full credit.