Commercial Real Estate Agency — Business Valuation Multiple
EBITDA Valuation Guide · Small & Mid-Sized Businesses
Actual EBITDA multiples can vary materially based on EBITDA size, growth, recurring revenue, margins, customer concentration, owner dependence, geography and other company-specific factors.
Min
3×
Typical
4.5×
Max
6×
Revenue Model
Mixed
Capital Intensity
Low
A typical multiple of 4.5× EBITDA reflects mid-market transactions in the $1–$50M revenue range.
Overview
Commercial real estate agencies typically trade at 3×–6× EBITDA. Recurring property management and lease advisory income, specialist sector expertise in industrial, retail, or office markets, and RICS-qualified team capability support valuations. Transactional fee income depends on property market activity, which creates cyclical risk for buyers.
Key Value Drivers
- Recurring property management income
- Specialist sector expertise (industrial, logistics, office)
- RICS-qualified team
- Lease advisory and rent review capability
- Investment agency and capital markets relationships
Key Risks
- Commercial property market cyclicality
- Transactional fee income volatility
- Client concentration in single asset class
- Working from home reducing office demand
- Planning and development cycle risk
Related Industries
Disclaimer: All multiples are indicative estimates only and are not formal valuations or investment advice. They should not be relied upon for financial decision-making without independent professional advice.