Challenge:
American Investment Properties was exclusively retained to sell this retail storefront building. The property had a single tenant, a Dance School that focuses on inspiring, motivating and mentoring children into dancers. Buyers were concerned about the single tenant’s viability, and how the uncertainty around COVID-19 would impact this investment.
To enable buyers to see the long-term potential in this offering, our strategy highlighted the many benefits to this investment property.
Action:
Once receiving the signed exclusive agreement, our marketing plan went into full effect. This property was featured through various marketing channels including our company website, premium listing websites, and email marketing.
We highlighted the Dance school’s decades of success, and their lease options to remain at the property for many years. Additionally, we showcased the location’s strong traffic count and retail amenities using 3D maps, and illustrated the building’s recent renovations and upgrades.
Result:
Our marketing exposure resulted in over 60,069 total views and 169 leads. After fielding various offers from buyers and co-operating brokers, we ultimately retained the ideal buyer.
Ron Koenigsberg, CCIM, represented both the buyer and seller. The property sold at $675,000, 8.4% cap rate, and a price per square foot of $204.
View more of our sold properties here.
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