If you own commercial property in South Florida, "what is it worth?" is the question behind almost every big decision — whether to sell, refinance, do a 1031 exchange, settle an estate, or just understand your net worth. The good news: you can get a credible, comp-based answer fast, and free. Here's what actually drives the number and how to find yours.
The fastest path: pull instant comparable sales on your property with the free Broker Opinion of Value tool, then request a comp-driven memo. You'll have a defensible value range in about one business day, at no cost.
What Determines Your Commercial Property's Value
Four things move the number more than anything else:
- Comparable sales. What similar properties — same use type, similar size, same submarket — actually sold for recently, expressed as price per square foot. This is the backbone of any market-based estimate.
- Income (for leased property). Net operating income divided by the capitalization rate the market is paying for that asset type. A building with strong, in-place leases is worth more than an identical vacant one.
- Location and submarket. The same building is worth very different amounts in Brickell vs. a secondary corridor. South Florida pricing is hyper-local.
- Condition, use, and lease terms. Age, build-out, deferred maintenance, the use class, and the quality of any leases in place all adjust the value up or down.
What It Is NOT
Your value is not the county's assessed (just) value — that's for taxes and routinely lags the market. It's also not what you paid, what you owe, or what you hope to get. Market value comes from recent comparable transactions, full stop.
How to Get a Number — Free and Fast
You don't need to spend $2,500 and wait weeks for a formal appraisal just to find out where you stand. A broker opinion of value (BOV) gives you a comp-driven range quickly and at no cost. Search your property in the free BOV tool to see public-record data and recent comparable sales instantly, then request a full memo from Justin Crow at Mattis Advisors — including a value range, the comps behind it, and the strategy that goes with it.
If a lender, court, or the IRS needs to rely on the number, you'll eventually want a formal appraisal — but start with the BOV. Our guide on BOV vs. appraisal vs. CMA explains exactly when you need which.
The South Florida Context
Commercial values across Broward, Miami-Dade, and Palm Beach have moved sharply in recent years, so owners who haven't checked in a while are frequently surprised. If your property is tied to a business you might sell, also read how your real estate affects your business valuation — the property is often worth more valued on its own than buried inside a business multiple. For current rent and pricing context, see our 2026 cost guide.
The Bottom Line
Your commercial property's worth comes down to comparable sales, income, location, and condition — not the tax assessment. The smart first move is a free broker opinion of value: it's fast, it's free, and it tells you whether a sale, refinance, or exchange even makes sense before you spend a dollar on a formal appraisal.
Related tools: Get a free Broker Opinion of Value on your property, and see how your real estate affects your business valuation.
Frequently asked questions
How is the value of a commercial property determined?
Commercial value is driven mainly by income (for leased assets, net operating income and the capitalization rate the market pays) and by comparable sales — what similar properties of the same use type and size recently sold for per square foot in the same submarket. Location, condition, and lease terms in place adjust the number up or down.
How can I find out what my commercial property is worth for free?
Use a free broker opinion of value. You can pull instant public-record data and recent comparable sales on any commercial property in Broward, Miami-Dade, or Palm Beach with the free BOV tool, then request a comp-driven memo at no cost — far faster and cheaper than a formal appraisal.
Is the county assessed value the same as market value?
No. The property appraiser's assessed (just) value is for taxation and usually lags or differs from true market value, often materially. Use recent comparable sales, not the assessment, to gauge market value.
Do I need a full appraisal to know what my property is worth?
Not to make a decision. A free broker opinion of value gives you a defensible range fast; a formal appraisal (which costs $2,500+ and takes weeks) is needed when a lender, court, or the IRS must rely on the number.
