Challenge:
American Investment Properties retained the exclusive listing agreement for the fully leased 6-unit retail property.
There were a few challenges with this sale. The six stores were management intensive, and potential buyers for this asset had to be “hands on”. Additionally, the property had low daily traffic counts and was not near a signalized intersection. Lastly, while the property had on-site parking it was unpaved and aesthetically unpleasing to potential buyers and customers.
Given the challenges of the property, along with the aggressive asking price, our team had to be diligent during the marketing period to successfully attract the ideal buyer.
Action:
Once receiving the signed 6-month exclusive agreement our marketing team obtained high-quality property photos, a detailed offering memorandum, and strategized on the various marketing channels to utilize including: email marketing, social media, third-party websites, our company website and working closely with cooperating brokers.
Ultimately, it was a lengthy marketing timeline with various offers and investors. Our team remained organized on all leads, following up with all buyers.
Result:
Our exposure resulted in over 48,582 total views and 325 leads over the marketing timeline.
After fielding various offers from buyers and co-operating brokers, Ron Koenigsberg found the ideal buyer and achieved a strong sale price for the seller.
Ron Koenigsberg successfully brokered the sale at $1,075,000, a 5.95% cap rate, and a price per square foot of $250.
Testimonial:
“Ron brings his absolute best to sell your commercial property.” – Harry, HARRISON R HIPPER LLC
Thinking About Selling Your Commercial Property?
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