MARKET STUDIES

Cornerstone Valuation Services specializes in Market Studies for multifamily development projects and also provides Market Studies for retail, office, industrial, self-storage, and various other property types.  We have extensive experience completing WHEDA and HUD compliant Market Studies, as well as general Market Studies for developers, investors, lending institutions, and more.

 

We complete market studies to assist developers with the formulation of development plans as well as market studies to test a developer's plans in the market.  These studies are often provided to potential investors and/or lenders.  The majority of our market studies are comprehensive documents with an extensive scope.  A typical market study for a multifamily project will include, but not be limited to, the following scope.

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• Overview of the development site

• Overview of the proposed development plans

• Overviews of the neighborhood and region

• Presentation of national and local apartment market data

• Definition of the subject's primary market area

• Presentation of data sheets for the most relevant comparable rentals

• Analysis of the proposed development style

• Unit mix analysis

• Unit size analysis

• Project attribute analysis (amenities, finishes, parking, etc.)

• Market rent analysis

• Occupancy / vacancy rate analysis

• Overview of rent growth trends

• Effective demand analysis (capture rates & penetration rates)

• Marginal / net demand analysis

• Absorption projection

• Commercial space analysis (if applicable)

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While most clients request comprehensive studies as outlined above, we recognize that comprehensive studies are not always needed or desired.  Commonly, we will provide more abbreviated studies that focus on our client's specific needs and desires. 

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We also have extensive experience completing Rent Comparability Studies for HUD      Section 8 projects both on an "As Is" basis and "As Renovated" basis when substantial          rehab work is planned.