In building value, how do you account for historical value? I do not know for certain but I have always kept in mind that pricing is an art, not a science. I would think you would go about it in much the same way as looking at a regular building's value. 1. First, if possible, find a similar historical building in a smaller footprint, taking an estimate and multiplying with the decreasing factor of price per square foot with a larger footprint to get a starting basis. 2. Does the current owner have a business? Is there a "net sheet" (how much they make, in other words) and can that be continued with a new owner/ 3. Is the building currently being used at its highest in best use? 4. Does the building have current tenants? What does that take in for the owner? W...
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