Broker Opinion of Value · Alternative & Specialty

Free Alternative & Specialty Broker Opinion of Value (BOV) Template: PowerPoint, Google Slides & AI

An alternative & specialty broker opinion of value laid out for the owner: price estimate first, then the comps and income that support it, using the method that fits alternative & specialty property.

See all free alternative & specialty templates →

What makes an alternative & specialty BOV different

Alternative and specialty assets (senior housing, student housing, cold storage, data centers, car washes and similar) share one trait: income depends on an operator, a license or specialized equipment. The document explains the operating model and contracts before it shows any price.

That is why this template does not reuse a generic deck. The questions owners ask first about alternative & specialty property are specific, and the document should answer them without being asked:

• Which metric did you value on, for example per bed, per bay or per megawatt?
• How did you treat my contracts and licenses?
• Which sales were comparable enough to use?

The metrics owners look for

The summary page of this alternative & specialty BOV is built around six numbers. Show only the ones you can support with a source or a calculation.

• Price per operating unit
• In-place cap rate
• Occupancy or utilization
• Operator / tenant
• Contract term remaining
• Revenue model

The property-data table beside them covers: asset class and operating model, operator or tenant and contract term, licensing or regulatory approvals, operating unit (beds, bays, mw, spaces), year built / last upgraded, specialized systems or equipment.

The alternative & specialty-specific pages

Operating Model and Revenue Streams

Columns: Revenue stream, Unit, Rate, Utilization, Annual revenue, Contract / term. State the as-of date and where the figures come from.

Operator, Contracts and Regulatory Approvals

Columns: Item, Detail, Date / term, Transferable?. Cite documents, not memory.

Comparables

Sale comps use these columns: Operating units, Asset type, Sale price, Price per operating unit, Cap rate, Operator / tenant, Year built. Rent or rate comps use: Property, Asset type, Operating unit, Rate or rent, Utilization, Term.

How an alternative & specialty BOV is supported

Value from the asset class's own metric (for example per bed, per bay or per MW) and an income approach on NOI after operator fees and capital reserves; state clearly which comps are truly comparable, because specialty comps are few.

A broker opinion of value is not an appraisal and is not a substitute for one where an appraisal is required. The template says so on the summary page.

Back it up: documents to have ready

An alternative & specialty BOV is only as credible as the documents behind it. Collect these before you publish figures.

Operations

• Operating statements and the metrics unique to the asset class: Specialty income is not read like rent
• Customer or contract concentration report: Concentration drives risk

Legal

• Operator, management or lease agreements and change-of-control terms: Contracts may not transfer
• Insurance and loss history specific to the use: Risk is use-specific

Compliance

• Licenses, permits and regulatory approvals and whether they transfer: Many specialty uses depend on a license

Physical

• Specialized systems and equipment inventory with age and service history: Replacement cost can be high

Financial

• Capital expenditure history and reserve requirements: Specialty assets are capital intensive

Environmental

• Phase I and any use-specific environmental review: Some uses carry unique risks

Common alternative & specialty mistakes

• Applying a generic cap rate with no specialty comps
• Not saying which approvals transfer to a buyer
• Overstating utilization
• Using generic rent roll language for a non-rent revenue model

Market data

The market page has rows for: demand drivers for this asset class, supply of comparable facilities, regulatory environment, operator landscape, capital market appetite, comparable transactions. Put the source and the date next to each one.

Use it with AI: Claude, ChatGPT, Gemini

Paste your deal facts and get a draft alternative & specialty BOV in this structure. The prompt uses only the facts you give it and marks gaps as [TBD].

You are a commercial real estate marketing analyst helping a broker draft an Alternative & Specialty Broker Opinion of Value (Alternative & Specialty BOV).

Draft the Alternative & Specialty BOV in the structure below. Use ONLY the facts I give you. Where a fact is missing, write [TBD: what is needed] instead of guessing.

STRUCTURE
1. Executive Summary: Price Estimate
   - Concluded value, low, high, effective date: [ ]
   - Price per operating unit: [ ]
   - In-place cap rate: [ ]
   - Occupancy or utilization: [ ]
   - Operator / tenant: [ ]
   - Contract term remaining: [ ]
   - Revenue model: [ ]
2. Property Overview and Photos
   - Asset class and operating model: [ ]
   - Operator or tenant and contract term: [ ]
   - Licensing or regulatory approvals: [ ]
   - Operating unit (beds, bays, MW, spaces): [ ]
   - Year built / last upgraded: [ ]
   - Specialized systems or equipment: [ ]
3. Operating Model and Revenue Streams
   - Revenue stream: [ ]
   - Unit: [ ]
   - Rate: [ ]
   - Utilization: [ ]
   - Annual revenue: [ ]
   - Contract / term: [ ]
4. Sale Comps Summary and Detailed
   - Columns: Operating units, Asset type, Sale price, Price per operating unit, Cap rate, Operator / tenant, Year built
5. Rent Comps Summary
   - Columns: Property, Asset type, Operating unit, Rate or rent, Utilization, Term
6. Income and Expenses
   - Current and proforma: [source and period]
7. Valuation Approach and Reconciliation
   - Method: Value from the asset class's own metric (for example per bed, per bay or per MW) and an income approach on NOI after operator fees and capital reserves; state clearly which comps are truly comparable, because specialty comps are few.
   - Weights and range: [ ]
8. Market Overview
   - Demand drivers for this asset class: [Value; source and date]
   - Supply of comparable facilities: [Value; source and date]
   - Regulatory environment: [Value; source and date]
   - Operator landscape: [Value; source and date]
   - Capital market appetite: [Value; source and date]
   - Comparable transactions: [Value; source and date]

RULES
- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this alternative & specialty mistake: applying a generic cap rate with no specialty comps.
- Avoid this alternative & specialty mistake: not saying which approvals transfer to a buyer.
- Avoid this alternative & specialty mistake: overstating utilization.
- Avoid this alternative & specialty mistake: using generic rent roll language for a non-rent revenue model.
- Apply only the adjustments and cap rates the user supplies; if none are given, ask.
- State that a BOV is not an appraisal and is not a substitute for one where an appraisal is required.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language].

BEFORE YOU DRAFT
If essential facts are missing, ask me up to 8 short questions first, then draft once I answer.
If I say "just draft it", draft now and list every [TBD] at the end.

OUTPUT
Return the Alternative & Specialty BOV as clean Markdown, one heading per section above, followed by a checklist of every [TBD] item and every number I should double-check against source documents.

MY DEAL FACTS
[Paste property details, financials, rent roll, comps, market notes and anything else here.]

Fill it from a real deal

With the IntellCRE MCP connector, your assistant can pull the property, its unit mix and rents, and its selected comps from IntellCRE before it drafts. Or let IntellCRE build the document from your deal files: try IntellCRE, free to start.

Frequently asked questions

Related templates

• All free Alternative & Specialty templates
• Alternative & Specialty Offering Memorandum template
• Broker Opinion of Value template for any property type

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