Marshall D. Estep, MAI, joined Newmark Valuation & Advisory in 2018 as a senior vice president in the Minneapolis office. A 28-year industry veteran, Mr. Estep has prepared valuations and market analyses across a broad range of property types that includes auto and truck dealerships, truck terminals, marine terminals, airports, road and rail right-of-way projects, flex buildings, warehouses, manufacturing facilities, office buildings, historic preservation projects, fast food and casual dining restaurants, golf courses, entertainment venues, theaters, convenience stores, car washes, self-storage facilities, low-income housing projects, apartments, student apartments, single and multi-tenant industrial facilities, churches, schools, nursing homes, senior housing projects, health clubs, community centers, malls, retail development projects, shopping centers, big box retail stores, golf courses, agricultural properties, horse farms, distilleries, nightclubs, racetracks, mixed-use facilities, government facilities and vacant land.
Over the span of his career, Mr. Estep has focused on producing quality appraisal work in a timely manner for mortgage lenders, corporations, non-profits, government entities, charitable foundations, estates, trusts and private clients. He has experience with ARGUS-based analyses, regression analysis, feasibility studies, subdivision development analysis, rent studies, litigation support and business valuations with and without real estate assets.
Mr. Estep began his career in commercial real estate brokerage and leasing, but he has been engaged solely in commercial real estate valuation and advisory services since 1990. Prior to joining Newmark, Mr. Estep was president of Estep & Company, a commercial real estate appraisal and advisory firm established in 1990.
- Member, National Association of REALTORS® (NAR)
Licenses and Designations
- Designated member, Appraisal Institute (MAI)
- Certified general real property appraiser, states of Georgia, Iowa, Kentucky, Minnesota, North Dakota, Ohio, Tennessee and Wisconsin
- Licensed real estate broker, state of Minnesota
Mr. Estep earned his Bachelor of Science degree in accounting from University of Kentucky’s College of Business and Economics and has completed additional real estate finance, brokerage and appraisal coursework at the university as well as from the CCIM Institute and Appraisal Institute. Mr. Estep is currently certified by the Appraisal Institute’s voluntary program of continuing education for its designated members.