A regional lender engaged The McEnery Company to provide an AS IS opinion of an existing leasehold estate improved with a mega church facility measuring a total of over 320,000 square feet. The leasehold exists on a 50 acre parcel of 16th Section land with a 40 year primary term and a 25 year renewal option. A reoccurring theme in the appraisal analysis is the mega church status of the facility and the related need to identify comparable sales of like-kind religious facilities of similar scale from across the southern region. Our prior appraisal experience with this asset class proved to be a great benefit to the application of the necessary scope of work in this assignment.
