How to do mixed use valuation

[Lewis Christman]

How do you value mixed use? Do you blend your target for residential and then cap rate for commercial to find the value?  commercial space is vacant so have the pro forma numbers (yet not rented) and asked from my agent the rent it tomorrow rates.  Obviously a big difference as to value it places on the property depending on where the rents actually come in at.

How do you evaluate?

2 commercial spaces (1 vacant for 11 months other about to go vacant), parking is street / driveway (no official spaces).  Good location and nice building - just don't want to overpay