The frequency with which commercial real estate appraisals need to be updated will vary depending on the lender. In some cases, the lender may require an updated appraisal every year. In other cases, the lender may only require an updated appraisal every few years. It's important to check with your lender to find out their requirements.
A commercial real estate appraisal is a professional assessment of the value of a commercial property. The process of evaluating the value of a commercial property is done by a licensed commercial property appraiser, and the report includes an estimate of the property's market value.
The frequency of commercial real estate appraisals will depend on the lender's requirements. It is important to check with the lender to find out their specific requirements.