A Special Note for Companies with Real Estate. CrossCheck™ is not designed to value real estate assets as part of the business. If real estate comprises a significant portion of your business, then we do not recommend that you use CrossCheck™ to estimate your business's value. However, if you choose to proceed, the way we treat real estate's economic impact on your business's value is to substitute a fair market value (FMV) lease payment for any mortgage payments, depreciation, interest, taxes, etc. In short, we develop a value for your business based on its operations, not the real estate used by it. To the business value you would then add the FMV of your real estate to calculate the business's combined value. A good way to think about this is you may decide to buy a business, but lease the property from the seller. The business operations have an intrinsic value that can often be separated from the real estate used by the business.