Property Appraisal and Valuation Services for City-Owned Insured Properties
ID: 274-FIN2026-10 • State: North Carolina
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Description
Background
The City of Raleigh, North Carolina, is seeking proposals for professional appraisal and valuation services for all City-owned insured properties. This initiative supports the City's insurance program, risk assessment activities, and financial planning. The City is recognized as a rapidly growing area with a focus on innovation, sustainability, and enhancing the quality of life for its residents. The selected firm will assist the Risk Management Division in establishing reliable replacement cost and market value estimates for various municipal facilities and properties to ensure appropriate insurance coverage levels.
Work Details
The contractor will provide comprehensive appraisal services which include:
1. On-site physical inspection of over 1,000 City-owned properties including municipal office buildings, community centers, recreational facilities, parking garages, water treatment plants, fire stations, police stations, and convention centers located within Wake County.
2. Detailed assessments covering occupancy/usage, fire protection systems, structural components (foundation, walls, roofing), building services (HVAC), square footage, renovations or additions.
3. Provision of both replacement cost and actual cash values for each property based on accepted insurance industry methodologies.
4. Valuation of contents within buildings on a cost new replacement basis excluding certain items like works of art or personal property owned by employees.
5. Delivery of detailed appraisal reports including comments on hazards observed during inspections and itemized details of land improvements.
6. An online database containing all property appraisal data with customizable reporting capabilities.
7. Annual trending analysis after the initial full appraisal to update values by March 1st each year.
Period of Performance
The contract will commence on January 1, 2027, with an initial term of five years. The first full appraisal must be completed by March 1, 2027. Subsequent annual trending analyses are due by February 1st each year thereafter.
Place of Performance
All appraisals will be conducted at various locations throughout Wake County, North Carolina.
Bidder Requirements
Proposers must demonstrate expertise in public-sector property appraisal and knowledge of applicable standards. They should provide evidence of financial stability through recent financial statements and must be properly licensed/certified to perform the specified work in North Carolina. Insurance coverage requirements include Commercial General Liability and Workers' Compensation among others.
The City of Raleigh, North Carolina, is seeking proposals for professional appraisal and valuation services for all City-owned insured properties. This initiative supports the City's insurance program, risk assessment activities, and financial planning. The City is recognized as a rapidly growing area with a focus on innovation, sustainability, and enhancing the quality of life for its residents. The selected firm will assist the Risk Management Division in establishing reliable replacement cost and market value estimates for various municipal facilities and properties to ensure appropriate insurance coverage levels.
Work Details
The contractor will provide comprehensive appraisal services which include:
1. On-site physical inspection of over 1,000 City-owned properties including municipal office buildings, community centers, recreational facilities, parking garages, water treatment plants, fire stations, police stations, and convention centers located within Wake County.
2. Detailed assessments covering occupancy/usage, fire protection systems, structural components (foundation, walls, roofing), building services (HVAC), square footage, renovations or additions.
3. Provision of both replacement cost and actual cash values for each property based on accepted insurance industry methodologies.
4. Valuation of contents within buildings on a cost new replacement basis excluding certain items like works of art or personal property owned by employees.
5. Delivery of detailed appraisal reports including comments on hazards observed during inspections and itemized details of land improvements.
6. An online database containing all property appraisal data with customizable reporting capabilities.
7. Annual trending analysis after the initial full appraisal to update values by March 1st each year.
Period of Performance
The contract will commence on January 1, 2027, with an initial term of five years. The first full appraisal must be completed by March 1, 2027. Subsequent annual trending analyses are due by February 1st each year thereafter.
Place of Performance
All appraisals will be conducted at various locations throughout Wake County, North Carolina.
Bidder Requirements
Proposers must demonstrate expertise in public-sector property appraisal and knowledge of applicable standards. They should provide evidence of financial stability through recent financial statements and must be properly licensed/certified to perform the specified work in North Carolina. Insurance coverage requirements include Commercial General Liability and Workers' Compensation among others.
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Overview
Agency
Opportunity ID
274-FIN2026-10
Response Deadline
May 22, 2026
Due in 5 Days
Date Posted
April 27, 2026
Est. Value Range
Experimental
$500,000 - $2,000,000
(AI estimate)
Agency Distribution
High
Source
Source Notes
North Carolina recently changed its procurement system. Old procurements are available at https://www.ips.state.nc.us/IPS/BidNumberSearch.aspx.
On 4/27/26 CITY OF RALEIGH in North Carolina issued Property Appraisal and Valuation Services for City-Owned Insured Properties with ID 274-FIN2026-10 due 5/22/26.
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