The McEnery Company was engaged by a regional lender to provide an AS IS opinion of the market value for the Mercedes-Benz dealership located on Veterans Boulevard. The 44,875 square foot auto dealership is one of the higher-grade dealerships in the immediate market area. A market and marketability analysis were crucial to this particular study. The interest appraised was the leased fee estate of the underlying site, which was leased to the Mercedes-Benz dealership on a long-term ground lease. Integral to the analysis, however, was due consideration to the only few years remaining on the term of the ground lease and the potential value associated with the reversion of the land rights to the land owner.
