How Long Is a Commercial Appraisal Valid?

When it comes to commercial real estate, one of the most common questions property owners, investors, and lenders ask is:

How long does an appraisal stay valid? The short answer: it depends.

Unlike milk or a driver’s license, commercial appraisals don’t come with a stamped expiration date.

Instead, their “shelf life” is tied to changing market conditions, lender requirements, and the purpose of the appraisal.

Understanding Appraisal Validity

Most lenders and financial institutions will consider a commercial appraisal valid for about 6 to 12 months.

But if the market shifts quickly, an appraisal can lose relevance much sooner.

Think of it this way: if you had a property appraised in January, but by June interest rates, rental demand, or vacancy rates in your area have shifted dramatically, the value on paper may no longer reflect reality.

Factors That Affect Appraisal Lifespan

Several key factors determine how long an appraisal remains useful:

• Market Conditions – In a stable market, appraisals may hold longer. In a volatile one, values can change in just a few months.
• Purpose of the Appraisal – Lenders, tax authorities, and courts may each have different requirements for how recent an appraisal must be.
• Type of Property – Income-producing properties, like apartment complexes or retail centers, may require updated appraisals more often because tenant turnover and rent changes affect value.
• Lender Requirements – Banks often set their own rules, with many requiring appraisals to be less than 6 months old at the time of loan approval.

Can an Old Appraisal Be Updated?

Yes. In many cases, an appraiser can provide an update or “re-certification of value” rather than performing a full new appraisal.

This is faster and more cost-effective, but it only works if market conditions haven’t shifted significantly.

The Bottom Line

Most commercial appraisals are considered valid for 6–12 months, but their true relevance depends on how quickly the market and property-specific conditions change.

If you’re buying, refinancing, or making investment decisions, it’s always smart to confirm with your lender or financial partner what timeframe they accept.

If your last appraisal is more than a few months old, and the market has shifted, it may be time for a fresh look to ensure you’re working with accurate numbers.

Real Estate Matrix is one of the Southeast’s premier commercial real estate appraisal firms and has participated in the valuation of billions of dollars in real commercial property assets.

We would appreciate the opportunity to add you to our very long list of pleased clients.

You can give us a call or click here to fill out our Free Quote Appraisal Form.