If you’re a commercial appraiser, you’ve definitely heard of CoStar. It’s pricey, powerful, and for a long time I wondered if it was really worth it. But after using it across thousands of assignments — from single-tenant retail to medical office — I can confidently say: CoStar’s the real deal (if you know how to use it right).
✅ What I Like:
- Huge database of verified commercial sales and leases
- Easy map filtering by use type, sale date, cap rate, etc.
- Good aerials and parcel overlays for comps
⚠️ What I Don’t Love:
- Price — expensive unless your firm’s covering it
- Interface feels a bit dated
- Sometimes needs manual filtering for quality comps
I started using CoStar more heavily when working on medical office assignments. Finding recent sales with matching tenancy and use type was a nightmare on public records alone. With CoStar, I could filter for MOB sales by size, year built, and quality tier, all within a defined market — saving me hours per report.
I now use it regularly to cross-check against LoopNet, confirm lease terms, and find ownership histories. I don’t rely on it for everything, but as part of my toolbelt? It’s indispensable.
If you’re doing residential or light commercial only, CoStar is probably overkill. But if you’re regularly appraising larger retail, medical, or office properties — especially for banks — CoStar can pay for itself fast in saved time and better-supported comps.
One thing I really appreciate about CoStar is the human element. Every regional researcher I’ve interacted with is visible without being overbearing — their contact info and photo are right there on each comp page. The comps aren’t flawless, but the researchers are approachable, responsive, and open about the fact that they’re human too. If you spot an error, you can reach out directly — they’ll fix it, thank you, and often improve the whole record. That kind of service goes a long way, especially at this price point.
CoStar isn’t cheap. But for commercial appraisers trying to deliver quality, defendable reports, it’s a weapon. If you’re on the fence, ask your firm to trial it or split costs. Once you build a workflow around it, it’s hard to go back.