Industrial / Direct comparison
Industrial warehouses
The City identifies a direct-comparison model and groups warehouse properties by industrial market area. The methodology identifies physical, location and utility variables rather than an income-capitalization model.
City-identified variables: Main-floor total area · Finished areas · Industrial market area · Site coverage · Effective year built · Traffic influence · Condition · Wall height
Owner evidence: Confirmed main-floor and upper-floor areas · Finished-area allocation and effective year built · Wall height, site coverage and access · Condition, servicing and documented obsolescence
Boundary: These are municipal mass-appraisal variables. They are not brokerage adjustments, a replacement-cost schedule or a subject-property value conclusion.
Commercial land / Direct comparison
Commercial land
The City applies direct comparison across 20 commercial land market areas. The guide states that effective zoning can differ from actual zoning in defined circumstances and that traffic influence uses the City's stated traffic record.
City-identified variables: Effective zoning · Location · Lot size · Traffic influence · Market area · Property-specific adjustments
Owner evidence: Legal parcels, site area and ownership interest · Actual and City-applied effective zoning · Access, servicing and development constraints · Easements, contamination, topography and lot configuration
Boundary: A commercial land assessment does not establish entitlement, residual land value, development feasibility or the current price a buyer will pay.
Commercial / Income approach
Retail and retail plaza
The City derives typical triple-net market rent using qualifying new and renewal leases and develops capitalization rates from validated sales. Lease step-ups are excluded from the rent derivation described in the guide.
City-identified variables: Condition · Effective year built · Location · Lot location · Size · Traffic influence · Space types · Other value adjustments
Owner evidence: Current tenant roll and occupied/vacant areas · Executed leases, renewals and amendments · Year-end income and operating expenses · Parking, owner-occupied space and rent abatements or deferrals
Boundary: City-derived typical market rent is not automatically the property's contract rent, collected rent, brokerage asking rent or buyer-underwritten NOI.
Commercial — downtown and suburban guides / Income approach
Commercial offices
Edmonton publishes separate 2026 methodology guides for downtown and suburban offices. The suburban guide derives typical market rent from qualifying lease evidence and capitalization rates from validated sales; lease step-ups are excluded from its rent derivation.
City-identified variables: Office classification · Location · Size · Space types · Other value adjustments
Owner evidence: Exact downtown or suburban City grouping · Tenant roll, space types and measured areas · Executed leases, inducements, renewals and vacancy · Operating statements, parking and capital obligations
Boundary: The two City office groups must not be blended. Typical market rent, contract rent, effective rent after inducements and collected income answer different questions.
Multi-residential / Income approach — PGI and GIM models
Multi-residential low-rise
The City describes two multiple-regression models: one for potential gross income and one for the gross income multiplier. The guide's low-rise scope should not be generalized to every multi-residential property.
City-identified variables: Potential gross income inputs · Gross income multiplier inputs · Suite and tenant-roll characteristics · Property grouping and condition
Owner evidence: Suite-level occupancy, type, location and size · Actual and market rent fields with furnishing or subsidy details · Year-end financial statements and owner-paid expenses · Parking roll, vacancy and property-condition evidence
Boundary: This profile applies to the City's low-rise group only. It is not a universal apartment valuation formula or an investment-market GIM conclusion.
Commercial / Income approach — direct capitalization
Hotels and motels
The City applies direct capitalization to stabilized hotel and motel records, separating real-property income from furniture, fixtures and equipment, intangibles and business components. The guide identifies a cost approach for newly constructed properties with less than 12 months of full operational capability.
City-identified variables: Hotel or motel stratification · Revenues · Expenses · FF&E · Intangibles and business · Capitalization rate
Owner evidence: Three years of accountant-prepared financial statements · Room and ancillary revenue classifications · Operating expenses and management records · FF&E, intangible and business-component support · Tenant roll where applicable
Boundary: A hotel transaction can include real estate, business, brand, management, FF&E and other interests. The assessment model does not allocate a contemplated deal automatically.