Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on .

User Stats

5
Posts
5
Votes
Steve Wang
  • Irvine, CA
5
Votes |
5
Posts

Raw land valuation from commercial real estate agent reliable?

Steve Wang
  • Irvine, CA
Posted

This is my first post. As a newbie to BiggerPockets, I am amazed at the treasure trove of content and people's willingness to share. I couldn't quite find an answer to this newbie question, however. 

My investors and I are studying a raw land (30+ acres) with mixed-use zoning in a densely populated town. The comps are scarce and a bit dated (2016). The seller has offered a 2-year option, but the purchase price seems a bit steep given the limited data. However, this area is rapidly building up and offers strong economic growth, so it's conceivable that we can exit with worthwhile profit.

A friend has suggested we contact a few local commercial real estate brokers to get some estimates. Since I have never worked with a commercial real estate agency, could someone share if this is a reliable way to get some ballpark figures on raw land?

My apology in advance to any commercial real estate agent for my ignorance. 

Thank you.