Scot A. Torkelson, CBA, CVA


Real Estate Valuation

Business Valuation



[email protected]


Scot Torkelson is a Director with Value Consulting Group, a Marshall & Stevens company. He works primarily in real estate and business valuation.

Mr. Torkelson has been providing business valuation, real estate appraisal, and litigation support services since 1987. He has been a multi-discipline valuation professional for over thirty years with a focus on complex assignments.

Mr. Torkelson is a frequent speaker on valuation topics in the areas of business valuation and real estate appraisal and has written several articles as well. His focus in real estate is complex special use properties such as hotels, auto dealerships, landfills, conservation easements, oil wells, and coal mines. The combination of real estate and business valuation expertise provides a unique position for determining value for real estate holding companies.

Mr. Torkelson has significant experience with high profile cases including the Estate of Berg, which was a holding company discount case with the IRS where one of the first dual discount (lack of control and lack of marketability) methods was utilized and argued. The court sustained the methodology in this landmark case. He also drafted a conservation easement real estate report that resulted in the largest conservation easement value settled by the IRS in the program’s history, at $40 million.

Mr. Torkelson assists clients in business valuation, real estate, and litigation support issues, including for condemnation, conservation easement creation, mergers and acquisitions, marital dissolution, estate planning, damage and lost profit calculations, intangible asset valuation and management planning.

Professional Highlights

  • Life Member, Institute of Business Appraisers
  • Member, National Association of Certified Valuators and Analysts
  • University of St. Thomas, Master of Science in Real Estate program
  • IBA 8-Day Workshop
  • Value Consulting Group 
    Director, 2016-present
  • Shenehon Company
    Vice President – Director of Special Projects, Business Valuation and Real Estate Appraisal Division, 1987-2016
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