||This paper aims to analyze the investment environment in the Czech commercial property market. In the first step, we present available investment valuation methodology with the focus on valuation of commercial property. We outline general characteristics of each property types and proceed with empirical description of individual submarkets as well as the economic and legal frameworks in the Czech Republic. Further, we analyze Czech investment property market and state hypothesis about property yields and their link to economic growth. We conclude that the risk premium of commercial property investment in the Czech Republic has been relatively stable in the past. Also, we have noted a significant link between prime property yields and yields to maturity of government bonds.