An evaluation of real estate is always an opinion of value when performed by a Real Estate Representative and not an accredited appraiser; however all or most of the steps and detailed information included in an appraisal can be included in an opinion of value when performed by a knowledgeable person. If you are planning on taking your building to market, there are several areas that need to be inspected and should not be omitted. If you are not going to market you may just want or need an estimated high-level view of value based on the financials, market, and the basic condition of the building. This would not include such things as potential upside from unused space, deferred maintenance, and below market revenue streams . There are many variables when valuating buildings and no two buildings are the same. Even two sister buildings side by side may or will vary in value depending on the rent roll and their condition. Depending on why the evaluation is being performed will determine if you need an appraisal or just an accurate opinion of vale.