The ValueTrack™ Estimate lease valuation model is SiteBid’s estimate of a lease’s market value. A ValueTrack Estimate incorporates public and user-submitted data into SiteBid’s proprietary formula, also taking into account lease facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.
The nationwide median error rate for the ValueTrack Estimate for selling a lease is +/3.4%, while the ValueTrack Estimate for the market rate of leases has a median error rate of 7.49%. The ValueTrack Estimate’s accuracy depends on the availability of data in a lease’s area. Some areas have more detailed lease information available — such as leased area square footage and historical data — and others do not. The more data available, the more accurate the ValueTrack Estimate value will be.
Note: The ValueTrack Estimate’s accuracy is computed by comparing the lease or sale price to the ValueTrack Estimate that was published on or just prior to the closing date.
SiteBid publishes ValueTrack Estimate lease valuations for 20k+ leases across the country, and uses state of the art statistical and machine learning models that can examine hundreds of data points for each individual lease.
To calculate a ValueTrack Estimate, SiteBid uses a sophisticated model that incorporates data from county and tax assessor records and direct feeds from available data sources. The ValueTrack Estimate also incorporates:
The latest ValueTrack Estimate model is our most accurate ValueTrack Estimate yet. It’s based on a neural network model to produce lease valuations. This means the ValueTrack Estimate is more responsive to market trends & seasonality that may affect a lease’s market value. We also reduced overall errors and processing time in the ValueTrack Estimate.
The amount of data we have for your lease and leases in your area directly affects the ValueTrack Estimate’s accuracy, including the amount of demand in your area for leases. If the data is incorrect or incomplete, update your lease facts — this may affect your ValueTrack Estimate.
Be aware that the model that creates the ValueTrack Estimate factors in changing market trends, including seasonal fluctuations in demand. So in some cases that may be the reason for a change in your ValueTrack Estimate.
When a lease goes on the market, new data can be incorporated into the ValueTrack Estimate algorithm. In the simplest terms, the ValueTrack Estimate for on-market leases includes listing data that provides valuable signals about the lease’s eventual sale price. This data isn’t available for off-market leases.
Updates to your lease facts are factored into the ValueTrack Estimate. However, if the updates are not significant enough to affect the lease’s value (eg: leased area), your ValueTrack Estimate may not change. ValueTrack Estimates for all leases update multiple times per week, but on rare occasions this schedule is interrupted by algorithmic changes or new analytical features.
No. The ValueTrack Estimate is not an appraisal and can’t be used in place of an appraisal. It is a computer-generated estimate of the value of a lease today, given the available data.
We encourage buyers, sellers and leaseowners to supplement the ValueTrack Estimate with other research, such as getting a professional appraisal of the lease, or requesting a comparative market analysis (CMA) from a lease consultant.
While the ValueTrack Estimate is the estimated market value for an individual lease, the Estimated Sale Range describes the range in which a sale price is predicted to fall, including low and high estimated values. For example, a ValueTrack Estimate may be $543,067, while the Estimated Sale Range is $510,483 to $559,359. This range can vary for different leases and regions. A wider range generally indicates a more uncertain ValueTrack Estimate, which might be the result of unique lease factors or less data available for the region or that particular lease. It’s important to consider the size of the Estimated Sale Range because it offers important context about the ValueTrack Estimate’s anticipated accuracy.
