Industrial Property Appraisal in Toronto
and the GTA

Fees for industrial appraisals in the GTA typically start around $2,500 for a straightforward single-tenant property and can reach $7,500 or more for complex multi-tenant or specialized assets. The variables that move the fee are property size, number of tenants, lease complexity, the number of approaches required, and how quickly you need the report.

We provide a firm fee quote within one business day of receiving the property address and the purpose of the report. For more on what drives cost, see our commercial appraisal cost guide.

Standard turnaround is 7 to 14 business days from the property inspection, depending on complexity and how quickly we receive supporting documents such as leases, the rent roll, and recent operating statements. Rush service is available for urgent financings or closings and is quoted on request.

Our reports are prepared by AACI designated appraisers and comply with CUSPAP, which is the standard most major banks, credit unions, and institutional lenders require. If your lender has a specific approved appraiser panel or a particular report format requirement, let us know before we begin and we will confirm whether we are on that panel and how we address the format requirement.

For a tenant-occupied property, the most useful documents are the current leases and rent roll, the last two to three years of operating statements, and any recent capital improvement records. For a vacant or owner-occupied building, a floor plan or survey and any recent sale offers are helpful.

We can begin the engagement with just the property address and purpose, and we will tell you exactly what we need once we understand the scope.

A Broker Opinion of Value (BOV) is prepared by a real estate salesperson and is typically used for internal pricing decisions or listing guidance. It is not governed by a professional standard and is not accepted by lenders, courts, or the CRA.

An appraisal is prepared by a designated appraiser under CUSPAP and carries legal and regulatory standing. If the number needs to hold up in a financing, a dispute, a tax filing, or an estate matter, an appraisal is what is required. For a detailed comparison, see appraisal vs broker opinion of value.

Yes, significantly. In the current Toronto and GTA market, the gap in value between a 22-foot clear building and a 36-foot clear building can be substantial on a per-square-foot basis. Modern logistics and e-commerce tenants require higher clearances for racking systems, and properties that cannot accommodate them are positioned differently in the market.

An appraiser measuring clear height, bay spacing, and column configuration is not just filling in a data field. Those specifications directly influence which comparables apply, what net rent a tenant would pay, and how the market would price the building if sold.

Yes. Owner-occupied industrial properties are a common assignment type. Because there is no lease in place, the appraisal typically estimates market rent as part of the analysis, then capitalizes that income to arrive at a market value conclusion. The same report also supports a sale leaseback analysis if that is relevant to your situation.

If you are also looking at what rent you should charge yourself in a related-party lease, our commercial market rent service addresses that separately.

An independent appraisal is the most credible evidence you can bring to an MPAC assessment appeal. The Assessment Review Board places significant weight on a certified appraisal that analyzes sales and rents from the applicable valuation date, rather than a current market opinion. If you believe your industrial assessment is too high, an appraisal can quantify the gap and support the appeal on paper.

For more on when an appraisal is needed for a tax appeal, see our article on MPAC appeals and independent appraisals.