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Board upholds assessment for Grandview Boulevard office after owner's income‑based objections
Summary
Owner Dale Mas argued two Grandview office buildings face high vacancy and aging systems, but the assessor's sales comparables and CoStar analysis led the board to sustain the roll valuation for the 2314 parcel.
Dale Mas, who identified himself as an owner‑operator of multiple Grandview Boulevard office buildings, told the Board of Review that his buildings are struggling with high vacancy and aging systems and urged a valuation method based on income and cap rates. He described vacancies of 45–49 percent and said, “This building has no fire sprinkler system, which some of the bigger tenants require that.”
Assessor Laurie Swornen presented larger‑complex sales and CoStar data and said the assessor's sales‑first methodology, with adjustments for condition and size, produced values that the market comparables support. Using conservative vacancy and expense assumptions applied to the owner's rent data, she said an income check still produced values near the roll.
After questions, the board found the assessor's comparable sales and adjustments a stronger evidentiary basis than the owner's income‑based assertions and voted to sustain the assessor's valuation for the 2314 Grandview parcel. The owner was told how to pursue further appeal options.
