Posted on August 15, 2025
How Long Does a Commercial Appraisal Take?
You need a commercial real estate appraisal to make the most informed decision, but are unsure if it will take days, weeks, or months. Understanding the timeline matters because it affects your steps moving forward.
The truth is, timelines vary based on the complexity of the assignment, intended use of the appraisal and the appraiser’s availability based on their existing workflow. The right guidance can help you move forward with confidence. At LPA, we know the process inside and out. We keep you well-informed, meet deadlines, and deliver accurate results. Call us or contact us online today to start the appraisal process with an expert partner.
Why Timelines Can Vary
No two commercial properties are exactly alike. A small owner-occupied office building takes less time to appraise than a large multi-tenant downtown office tower. Factors that affect the timeline may include:
- Property size and complexity. Larger or unique properties typically require more research and analysis.
- Availability of data. Missing leases, contracts, financial statements, budgets, or site plans can cause delays.
- Type of appraisal report. A restricted/evaluation report may take less time than a full narrative appraisal report.
- Market conditions. In busy markets or higher volume times of year, appraisers may have longer wait times before starting an assignment due to existing projects already in the pipeline.
Understanding these factors will help you plan ahead and set realistic expectations.
The Typical Timeline for a Commercial Appraisal
While there’s no one-size-fits-all answer, most commercial appraisals follow a general schedule. Here’s what to expect:
1. Engagement and Scheduling (1–3 business days)
Once you choose an appraisal company, the engagement process begins. The appraisal firm will take into account the intended use of the appraisal, property specific details, and deadlines. The appraisal firm will then respond back to you with their related fees and timing to complete the assignment based on those factors. Typically, the appraisal firm will offer a variety of fees and timing options. Generally speaking, the more truncated the timeline to complete the appraisal assignment results in a premium on the fee, all other factors being the equal.
2. Research and Data Collection (5–10 business days)
This includes an in-person physical site visit to the property being appraised (unless otherwise agreed upon during the engagement/scheduling process), gathering public records, reviewing leases/budgets/contracts, compiling and confirming market sale/rental data and interviewing active market participants that can include investors, developers, brokers and property owners.
3. Analysis and Report Preparation (5–10 business days)
The appraiser will then select the most comparable sales, analyze any income potential, and the replacement cost. They then prepare the written report summarizing the research performed and adjust the confirmed market data into a reasonable range based on factors of comparability for that specific property type. This process supports their findings and concluded final opinion of value which can be presented as a singular number or a range of values.
4. Review and Delivery (1–3 business days)
The final report is reviewed for accuracy and consistency before being delivered to you by the agreed upon date.
Total estimated time: 1–4 weeks for most properties, though complex assignments may take longer.
Special Situations That Affect Timelines
Some projects take longer due to the specialized nature of the property or complexity of the overall assignment, such as:
- Special-use properties like hospitals, schools, or manufacturing plants.
- Multiple property appraisals in a portfolio assignment.
- Limited or a-typical comparable market data
- Environmental concerns require extra research and analysis.
When these apply, an experienced appraiser will set realistic expectations from the start of the engagement process.
Preventing Appraisal Delays
To avoid delays in the submission of the finalized appraisal report, the onus is on you, the client! Key items that greatly assist in keeping the process and final submission of the report on track, include:
- Providing the property specific requisite documents upfront: This includes contracts, leases, rent rolls, tax records, any renovation/construction budgets and site plans.
- Being available for questions. Commercial appraisal are typically more complex than residential assignments due to a variety of factors. Your timely responses to the appraiser’s questions which may occur throughout the process will greatly help prevent unnecessary delays.
An experienced firm will also know how to streamline without sacrificing quality.
Working With the Right Appraiser
Choosing the right professional makes all the difference in your timeline and your results. Keynote things to look for include:
- Proven experience and competency with your property type.
- Clear communication throughout the entire process from engagement to submission.
- Ability to meet deadlines without cutting corners.
- Strong reputation for well-supported, accurate and defensible reports.
LPA brings all of these qualities to every assignment. We combine deep, tenured market knowledge with a commitment to service.
Your Next Step
If you’re feeling uncertain about how long your appraisal will take, you’re not alone. Many property owners start with the same questions. The good news is you don’t have to figure it out on your own.
Get Results on Time with LPA
Timelines matter in commercial real estate. Delays can cost money, cause missed opportunities, or hold up financing. At LPA, we provide well-supported and accurate appraisals with clear communication and 100% on-time delivery, every time. Our process is transparent, our team is responsive, and our results are reliable!
Call us today or contact us online to get started. We’ll guide you from day one, set a clear timeline, and deliver your appraisal as promised. You can move forward with confidence.
