What do a Phase I and a PCA run on a $650k small-town office?
Small-town deal, 6,200 sf single story office built in 1978, four tenants, asking $650k. Local bank says they'll look at it but they want a Phase I, a property condition assessmen…
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Small-town deal, 6,200 sf single story office built in 1978, four tenants, asking $650k. Local bank says they'll look at it but they want a Phase I, a property condition assessmen…
First time I've looked seriously at office and I'm out of my depth on the lease structure, so going slow. 14,000 sf two story, six suites, built 1991, asking $1.05M. Rent roll sho…
I scope renovations for a living, which means I can look at a bid and tell you which line is padded. Inside an IRA I can't touch the property, can't swing a hammer on it, can't sp…
Two offerings on my desk this week, same national dollar-store tenant archetype, same small midwest trade area, roughly the same check. One is fee simple, 9,200 square foot box, 1…
I've owned land long enough that the holding cost is a tax bill and a mower, so budgeting for a building with roofs and boilers in it is new territory for me. I'm looking at a 12-…
I've spent the last year pricing new construction on land I control and nothing pencils. Hard costs on a garden-style shape came back roughly 39 percent above where I'd have model…
The facility is 180 units on a paved lot, gate with a keypad, no manager on site. The seller told me he drives over twice a week, walks the rows, and the rest is done from his lap…
Small syndication, one facility, 310 units plus 22 outdoor RV/boat spaces. Sponsor owns it already and is selling down 40 percent of the equity to fund a canopy build and a gate/a…
I have spent six months reading without closing a deal, and the gain I have is from selling a stake in something unrelated to real estate. Roughly $70,000. I started looking at qu…
My first closing ended up being the structure I told myself I'd never start with, after six months of reading. Writing it out because most of what I read about wraps skipped the m…
I'd rather be on the lending side than the owning side, and this was how I got there without buying anybody else's note. I sold the one rental I owned and kept the loan. The prope…
I've been sitting on this for four months and I want to hear how the room splits before I sign anything. My lot allows a detached unit up to 1,150 square feet. Two bids, same buil…
Renovation is my normal lane, so when the turn came between a 60 day tenant leaving and the next one arriving, I wanted to just do it myself. Four hours, strip beds, deep clean, c…
Bought 22 acres at $6,100 an acre, $134,200 all in, planning to sit on it until the road widening pushed development east. Taxes at closing were $340 a year because the parcel car…
Someone forwarded me a private placement on a 132-unit active adult community. Sponsor is raising $9m of what the deck calls preferred equity, 8% pref, then a 70/30 split after a…
I have two drafts in front of me for the same building and I have to pick one this month. The asset: 210 units, independent living with a light service package, meals and housekee…
I'm pricing a conversion rather than buying a running home. 2,400 sf ranch, and I've got two sprinkler retrofit bids at $18k and $31k for the same scope, which already tells me I…
This closed out last month so I can write the whole thing down. Two houses, one sponsor, plan was to convert both into 6 bed licensed homes in a metro with genuinely long placemen…
I've got money sitting from the service business and I'm looking at a 9 acre piece an hour out. Two people I trust told me two different things in the same week. The first said la…
Two listings I've been circling for a couple months in the same county, both about 30 acres, both with county road frontage. The first one is zoned in a way that allows the lot si…