How to Find Comps for Commercial Real Estate: A Step-by-Step Guide 

What Are Commercial Real Estate Comps? 

Comparables, usually known as comps, are commonly used tools in real estate that analyze similar properties to support fair valuations and help them trade at their best price. Knowing how to find comps for commercial real estate is essential for evaluating prices across similar properties and determining their correct value for both seller and buyer. Comparables are generally based on the prices that were recorded in recent sales in the area and are most accurate when comparing similar properties, in terms of size, building class, zoning, amenities etc.  

When investing in a commercial real estate comps platform, which tools and functions truly set one provider apart from another? Compare the features that define effective commercial real estate comps, follow the step-by-step guide to uncovering comparables with PropertyShark, then find clear answers to key FAQs to sharpen your valuation strategy and decision-making. 

What Are the Key Features of a Commercial Real Estate Comps Tool? 

How to find comps for commercial real estate starts with the right real estate data platform. But choosing a provider isn’t just about accessing sales data — it’s about weighing accuracy, complexity and usability to ensure the tool supports clear, reliable and efficient valuations. 

Explore the key features that determine whether a commercial real estate comps tool delivers efficiency and reliability: 

1. Verified Sale Data 

Accessing verified sales information sourced directly from public records will ensure a more accurate valuation. This information should include the: 

• Recorded date of transaction  

• Sale price 

• Name and address of buyer and seller. 

2. Advanced Search Filters 

Advanced search filters ensure that compared properties are as similar as possible, bringing the valuation even closer to the current market value of the property. Look for the ability to filter by: 

• Commercial property type (retail, office, industrial, multifamily etc.) 

• Sale price and date 

• Square footage 

• Zoning code, building class and neighborhood or zip code. 

3. Map-Based Search and Visualization 

Understanding a property’s geographic context is key to evaluating its market position and nearby sales activity. The key benefits of this context include: 

• Interactive map views to directly visualize recent sales by proximity. 

• Identifying pricing patterns within submarkets or at the street level. 

• Following seasonal shifts in transactional activity. 

4. Ownership and LLC Unmasking 

Knowing who truly owns a property is essential for a strong market outreach, conducting due diligence and discovering off-market deals. An efficient commercial real estate comparables tool should: 

• Feature both registered and true ownership details. 

• Provide contact information for potential off-market deals. 

• Offer owner portfolio research for a better understanding of deal strategies. 

5. Property-Level Insights 

Detailed property data adds essential context to commercial real estate comps, helping to evaluate a building’s condition, potential and compliance. Look for comparables linked to full property reports with: 

• Building size and lot dimensions 

• Zoning and floor area ratio (FAR) 

• Year built, renovations, permit history 

• Tax assessments and liens. 

6. Comparable Sales Export and Reporting 

Saving, customizing and sharing comps data makes valuation work more actionable and strengthens your professional brand. A comparables tool should: 

• Save your comps searches for a strong research history. 

• Generate and export custom comps reports in CSV or PDF formats. 

• Elevate your appraisals, investment underwriting and client presentations. 

7. Integrated Market Context 

Analyzing comps alongside market-level trends enables better benchmarking and more confident decision-making. Make sure you can explore your comps alongside market trends for: 

• median sale prices 

• price per square foot 

• localized historical sales data. 

What Are the Steps for Finding Commercial Real Estate Comps with PropertyShark? 

You only need to follow a few quick and easy steps when learning how to find comps for commercial real estate with PropertyShark: 

1. Navigate to the Comps Tool 
From your PropertyShark dashboard, click the Comparables tab at the top. Next, choose the relevant property type (such as building or land) to open a blank search screen.  

2. Enter Your Subject Property Address 
Begin typing the property’s address into the Subject Property field and select it from the suggestions list to ensure accuracy.  

3. Apply Smart Filters 
Fine-tune your search using PropertyShark’s robust set of filters, which include: 

• Sale date 

Tip: Results are more accurate when comparing recent sales of similar properties, since they better reflect current market conditions. So, the more recent the sale, the better.

• Building type and class, size metrics like square footage, units and stories 

• Transaction details (sale type, price per square foot, foreclosure, arm’s-length)  

• Location (radius, ZIP, street) 

Tip: You can customize your search by: radius (half-mile, one mile, two miles and more); map (allows you to directly visualize the area of interest); or street name (if you are targeting a specific streets, for instance commercial buildings in popular financial districts). 

• Other filters, including zoning, tax class, year built and more. 

4. Run the Search, Then Review Results 
Once filters are in place, hit Search. The tool then displays a list of recently sold comparable properties similar to your subject property. All the results follow the filter criteria that you focused your search on, providing accurate comparisons for your target property.  

5. Save, Export or Refine Your Search 

To ensure that you can always come back to your search for commercial real estate comps in your target areas, PropertyShark provides the option to create a robust search history, further finetune your research and elevate your presentations. You can: 

• Save your comps criteria for future use. 

• Export lists and print custom-branded reports. 

• Adjust filters as needed to refine your comparable set. 

Ready to take your property analysis to the next level? Explore how PropertyShark helps you generate accurate real estate comps with just a few clicks here.

FAQs About Comps for Commercial Real Estate 

1. How recent should comps be to ensure relevancy? 

Ideally, the sale should have taken place within the last 6 to 12 months, but in slower markets or for niche properties, anywhere between 18 to 24 months is acceptable. 

2. How many comps is enough to determine a fair valuation? 

Typically, 3 to 5 good-quality comps provide a strong basis for valuation, but more may be needed in complex or unique markets. 

3. What properties should be compared for accurate commercial real estate comps? 

Properties with similar location, use, size, condition, zoning and building class, ideally sold under similar market conditions. 

4. How to find comps for commercial real estate without a paid subscription? 

You can conduct free research of commercial properties by using public records like NYC ACRIS, NYC DOB and on-site canvassing. However, these sources require manual work and offer limited context compared to paid tools like PropertyShark. 

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About PropertyShark

PropertyShark is an online real estate database and property research tool that provides building details, ownership information, comparable sales and foreclosure data. Founded in 2003, PropertyShark serves real estate professionals and consumers in New York and other major U.S. markets.

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Information provided on this page is purely informational and is not and should not be regarded as investment advice.