We had the had the fortunate opportunity to appraise some of the most unique and complex properties across Louisiana. Helix Academy is a one-of-a-kind STEM-focused school with special curriculum focusing on Avionics. While it functions similarly to a traditional school, the property presented unique challenges due to special government-related rights and aviation-specific considerations.
This appraisal required a detailed analysis of the leasehold interest associated with the current facility, as this leasehold interest would significantly impact the Sales Comparable Approach and the overall value. Although the property is located near a regional airport, it was determined that demolition for land redevelopment would not be maximally productive, given that the facility was built in 2017 and still retains significant value in its current use.
Sales comparables for this type of property are rare. In this case, we sourced relevant data from neighboring states, which showed strong consistency across similar institutions throughout the country.
This was a distinctive and rewarding assignment, and the kind of specialty property challenge we at Mosaic Property Valuations are always eager to take on.
