Hello. I am new to the Forum. I live in the US and I co-own a small older apartment building near downtown Dusseldorf. We have owned this building in the family for many years, and we want to establish a reasonable sale value for it to contrast with what our agent/administrator is suggesting as a good price.
The five apartments(no elevator) and store space have been rented fully and for a long time for all practical purposes, with an annual rental value of E79-80K
The administrator has impecable credentials, but is very conservative, as she calculates a sale value of E820K, or a gross yield of 10%. When I look at the information at Property Secrets, and values(in other german cities), the gross yield is about 5%, so that the value should be much higher than she claims.
Any views and/or guidance as to how to tackle this issue.