Decatur, GA · Member since 2018 · 11 posts · 1 vote
Hi Fellow Investors. I have knowledge of two freestanding commercial properties that have been vacant for years. Both are within a mall area. There is no for sale or for lease sign on either. When I google the addresses the only thing that comes up are the old occupants that vacated some time ago. Both buildings used to restaurants of national tenants. Having hard time finding the current owners. It was not listed on the county's taxation real property database but did send email today for more information. As a newbie, what would your next step be and what would you consider doing with these properties if for sale. They are located next to each other, resides in a mall area, across the street as well is another shopping plaza. All cross streets has very high traffic volume. Any suggestions?
Decatur, GA · Member since 2018 · 11 posts · 1 vote
8y
Thanks Ronald. I do not at this point. I came across these two properties recently and is trying to get information about them in order to see if there is a deal to be made. Just having problems finding the owners to determine if they are for sale and if so, what I should do next?
Decatur, GA · Member since 2018 · 11 posts · 1 vote
8y
Thanks Michael. The mall sits in a metro area and is doing well. These two buildings sit virtually in this mall parking lot. Its my belief that other national chains may be interested if aware of the properties even if others did not. Businesses do tend to come and go even when others fail. I think its a matter of finding the right tenant, once I find more info about the properties.
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
8y
Originally posted by @Account Closed:
Thanks Ronald. I do not at this point. I came across these two properties recently and is trying to get information about them in order to see if there is a deal to be made. Just having problems finding the owners to determine if they are for sale and if so, what I should do next?
So you want to be a commercial broker? How will you be compensated?
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
8y
It depends on who was paying the rent.
A national chain name could have been there before but a franchisee went out instead of corporate. It's all situational.
Just like rehabbing a house. If a home owner wants to buy (end user tenant) then they can pay a higher price to purchase than a developer or investor could.
If a seller wants to sell to an end user then they tend to have a mindset of maximum profit. If a national is still on the primary lease term and paying above market rents then almost no reason for the owner to sell. Sometimes if it is a large company that owns many they might still sell it as the particular property they do not want to hold long term.