Real Estate Appraisal Services – 87 State Street

The Central Vermont Regional Planning Commission is seeking proposals for real estate appraisal services for the property located at 87 State Street, Montpelier, VT. The selected consultant will provide an appraisal report that estimates the fair market value of the property in its "As-Is" condition. The report should include a highest and best use analysis, sales comparison approach, income capitalization approach, and cost approach. The consultant should also provide a draft report and a final report in digital format. • The property is a 3-story office building with a basement, comprising approximately 73,091 square feet of Gross Building Area (GBA) or 65,650 square feet of Rentable Building Area (RBA). • The property is located in an Urban Center 1 zoning district, which allows for a variety of residential, commercial, and institutional uses. • The property has two active underground storage tanks (USTs) in the parking lot behind the building. • The property is currently vacant and has experienced significant flooding in the past. • The consultant should have experience with similar appraisal projects and should be able to complete the project within the required timeline.