Challenge:
There were a few challenges when marketing this sale.
This property was a vacant former furniture store that had been empty for over a decade with limited demand and a very narrow buyer pool. The challenge was finding a true owner-user willing to take on the asset. We canvassed the market aggressively and was introduced to a very interested medical group that saw long term value in the location.
The deal was not simple. Water issues and building restrictions limited the amount of space the medical group could occupy and required multiple approvals.
Action:
We focused on the key highlights of this property including the ample number of on-site parking spaces and the location on N Country Rd which receives high daily traffic counts of over 26,000 cars per day.
Our online marketing resulted in over 26,860 total views of the listing and over 110 buyers engaging with the online information.
Result:
Ron Koenigsberg, President of American Investment Properties, sold the property for $2,500,000. American Investment Properties represented the seller in this transaction and CRA REALTY LLC Commercial Real Estate Advisors represented the buyer in this transaction.
View more of our sold properties here.
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