Commercial real estate (CRE) data helps commercial real estate professionals make more informed strategic decisions. Developers can estimate the cost of a project, its future occupancy, and even pinpoint the perfect location, block by block. Appraisers can more readily compare similar properties to give useful reports on property values. Brokers and property managers are able to list their vacancies more competitively, while lenders and investors have more insight into the strength of the opportunities available to them in the market.
If you work in one of these roles, you could probably testify to the importance of commercial real estate data—because you have likely had to work and make do without it. Canyon Data is bringing a bottom-up approach to close the gap on these needs on a local level, and provide all commercial real estate professionals with tailored insights that make their jobs easier.
Let’s review the importance of commercial property data a little deeper, including how this data has been historically collected, and what we are doing to simplify these processes and achieve greater accuracy.
What Is Commercial Real Estate Data?
Commercial real estate data is any and all publicly-available information about the properties and market environment in a specific city, county, or state, depending on the need. This data is generally thought of in three tiers: property level data, transaction data, and demographic data.
- Commercial Real Estate Property-Level Data: This information is unique to each property in the local market, including the type of asset (industrial, retail, office, mixed-use, etc), its location, square footage, lot size, occupancy, and more. This information is important to help developers, realtors, lenders, and others understand the neighborhood’s current amenities and potential needs.
- Commercial Real Estate Transaction Data: This information is also unique to each property, specifically its ownership history and value. CRE transaction data points include current ownership, loan data, rent rolls, and sales history of each property. This information is important for investors, brokers, banks, and anyone else with an interest in the financial side of a deal or opportunity.
- Commercial Real Estate Demographic Data: This information is also sometimes called commercial real estate market data. These insights include the local supply of certain types of spaces like warehouses, apartments, or offices, as well as the demand for more. Average rents in the area, permitting information, and even socioeconomic information like average household age and income are also included in this data set.
How Do You Find Commercial Real Estate Data?
Historically, finding commercial real estate data has required CRE professionals to access a lot of different sources, some of which might not be updated with the latest current information. Canyon Data has innovated a new approach to finding, verifying, and providing timely CRE data. Here’s how we do it.
- Proprietary technology that scrapes every publicly available data source about the area, which is then verified and physically validated.
- Constant verification by certified experts who are trained to match data across sources and check the available information against reality. Sometimes, a simple visit to the address in question reveals a lot!
- Cutting-edge technology utilizing proprietary robotics and A.I. so that we can monitor for changes like property upgrades which impact the market.
- Monthly updates so that our users and partners have the most current information available
We are currently proving our processes and approach in the beautiful Boise, Idaho CRE market—but it’s our mission to grow and bring these insights to every market in the United States.
Canyon Data: Preserving Legacy Through Transformative Technology
At Canyon Data, we are committed to helping commercial real estate professionals support thriving communities through more accurate and timely CRE data. We respect the immense work and effort done by CRE professionals, and know it could be more fruitful and more beneficial to the community with less research required.
Our founders’ experiences in commercial real estate help us understand the importance of verified data that is updated monthly, not annually. So it became our mission to expand the potential of the existing opportunities in your pipeline through greater and more actionable insights.
We’re here to supercharge your professional power with local, accurate CRE data. Contact us now to get started.