Glamping Property Appraisal

Why Choose Sage for Your Glamping Appraisal?

Breakdown of Our Glamping Resort Appraisals

Area and Neighborhood Analysis

• Location Assessment: Detailed review of the geographical location and its advantages for glamping operations
• Demographics: Analysis of population statistics and demographics relevant to the trade area
• Recreation Opportunities: Identification of recreational amenities and their appeal to potential guests
• Demand Generators: Identification and analysis of key demand generators for the business, including nearby attractions, events, and activities
• Accessibility: Evaluation of transportation infrastructure and accessibility for target markets
• Area Development: Insights into current and future development projects in the area that may impact value

Industry Overview

• Economic Trends: Examination of economic indicators and their impact on the glamping industry
• Tourism Analysis: Insights into tourism patterns and their influence on the glamping market
• Outdoor Recreation: Evaluation of outdoor recreational activities and their popularity in your target area
• Outdoor Hospitality: Trends and forecasts in the outdoor hospitality sector affecting glamping demand

Market Analysis

• Competitive Summary: Overview of existing competitors and their market positions, pricing, and offerings
• Market Opportunities: Identification and analysis of potential market opportunities and gaps
• New Competition: Assessment of emerging competitors and their potential impact on property value

Site and Improvement Analysis

• Zoning Requirements: Review of zoning regulations and compliance requirements for glamping development
• Flood Risk and Wetlands Assessment: Identification of any flood risk and/or wetland areas and related restrictions
• Physical Restrictions: Analysis of physical site limitations that may impact value
• Utilities: Evaluation of utility availability and infrastructure requirements
• Transportation Analysis: Assessment of transportation links and access to the property
• Improvement Analysis: Assessment of the condition and functionality of the improvements, including accommodations, amenities, and infrastructure

Highest and Best Use Analysis

• As Vacant: Review of legally permissible, physically possible, financially feasible, and maximally productive uses for the land
• As Improved: Review of legally permissible, physically possible, financially feasible, and maximally productive uses for the improved property
• Conclusions: Conclusion of highest and best use, most likely user, and most likely buyer

Cost Approach

• Land Valuation: For unentitled land, research and analyze comparable land sales to develop a market value of the land, as if vacant. For entitled but not yet constructed properties, land valuation is a function of the market value "as complete" conclusion less the cost of construction and appropriate profit
• Site Development Costs: Preliminary estimation of site development costs including infrastructure and site preparation
• Unit Cost Projection: Detailed unit cost projection for development of glamping/lodging units
• Amenity Cost Project: Preliminary estimate for all amenities, support structures, and FF&E (furniture, fixtures, and equipment)
• Total Cost New Projection: Comprehensive total cost new estimation for the project
• Depreciation Deduction: Estimate all forms of depreciation, if applicable
• Conclusion: Conclude value indication via the Cost Approach

Income Capitalization Approach

• Rates Projection: Forecasting future rates based on market trends, competitive positioning, and data analysis
• Occupancy Trends: Forecasting occupancy rates by unit type and any potential stabilization period
• Insights and Trends: Utilization of Sage's proprietary outdoor hospitality database for trend analysis and benchmarking
• Expense Analysis: Detailed breakdown of projected operating expenses by category
• Industry Averages Comparison: Comparison with industry averages to benchmark performance
• Net Operating Income Pro Forma: Develop a stabilized pro forma NOI for stabilized properties, and a 10-year discounted cash flow for proposed or unstabilized properties
• Conclusion: Apply the appropriate risk rates to develop the value indication via the Income Capitalization Approach

Sales Comparison Approach

• Comparable Sales Data: Utilize our extensive database and primary research techniques to identify recent comparable sales of similar properties to the subject. Depending on the property type, this might be on a local, regional, or national basis
• Analyze Sales Data: Analyze all aspects of the comparable sales and apply adjustments in comparison to the subject, to come up with a range of value
• Conclusion: Analyze the results of the analysis, including which comparables are most meaningful and develop the value indication via the Sales Comparison Approach

Reconciliation

• Reconcile Approaches to Value: Summarize and analyze the value indications via each approach utilized, including a discussion of which approach is most meaningful and why
• Conclusion: Conclude market value, and reconcile to any recent purchase price

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