Valuation of a Vacation Rental

[Jeff Wells]

I have explored the forum posts regarding vacation rentals, and I haven't seen this exact topic addressed (unless I missed it), so I wanted to ask for feedback on this particular property.  We have a vacation rental in San Antonio, and the numbers look something like this:

Market Value of the Property By Itself:  $166,000

Value of Furnishings, Appliances, Etc:  $17,000

Net Income for 2015:  $21,000 (converted to a short-term rental in March of last year)

We have accumulated a great portfolio of reviews, etc, but we're are looking to utilize the proceeds from the sale of this rental to re-invest in a commercial property.  I was curious to hear your feedback on how we should value/price this property?  Should we evaluate more as a business, or what would you recommend? 

Thank you in advance for your feedback!