North or South Carolina Commercial Broker

20 Replies

Hi All,

I am looking for an apartment building in North Carolina (Asheville, Raleigh, Durham) or South Carolina (Greenville, Hilton Head) and was wondering if anyone has a recommendation for a commercial broker in either state or those specific sub-markets. I am investing from the West Coast sunshine state (CA) so someone experienced with out of state investors would be great. Thanks in advance!

Wiley

@Will Gaston definitely. Looking for something on my own. I have a partner and we are looking for apartment buildings in the 10+ unit range. We are also open to alternatives (mobile home parks, self storage) but mainly focused on apartment buildings. Let me know if you need more info. Thanks!

Hi Will and David - my husband and I are also looking to buy an apartment building or a portfolio of multi-family properties in Charlotte, Asheville and/or Winston-Salem. If you have any fantastic, knowledgeable agents who specialize in multi-family or commercial/apartment buildings, we'd very much appreciate it.

I have been looking in this area for Multi-Family, but also Trailer Parks and Self Storage as well. Greenville, Columbia, Charleston areas in SC and Charlotte, Raleigh Durham and Coastal NC. And also looking in the 10 + unit range. 

@Wiley Strahan I broker apartments in Charleston. I will tell you that the commercial multifamily inventory in the Charleston area is absolutely brutal. There's a lot more inventory in the Columbia and Greenville areas at the moment, but it's also pretty slim around there. It really just depends on how big you want to go.

@Troy Gandee thanks for the information! That's definitely what I have been hearing from a lot of people. We are looking to go 20+ units if possible and are open to areas outside the city. I have heard a JV for bigger properties may even be the right move nowadays.

Originally posted by @Troy Gandee :

@Wiley Strahan I broker apartments in Charleston. I will tell you that the commercial multifamily inventory in the Charleston area is absolutely brutal. There's a lot more inventory in the Columbia and Greenville areas at the moment, but it's also pretty slim around there. It really just depends on how big you want to go.

 Troy, do you broker multi-family in Columbia and Greenville areas? Also are you licensed in NC as well? I am looking for a broker in both NC and SC, looking for 125+ unit C-Class multi-family ideally around 6.5+ cap 

@Kyle Kovats I do broker multifamily in Columbia and Greenville. I have CoStar access and see everything listed in those markets. I also check in with brokers in those areas from time to time to see what's coming around. Unfortunately, the inventory in those two markets is also pretty thin, but still much more accessible than the Charleston area. I'm not currently licensed in NC. I can access CoStar listings in NC and could refer you out on them, but I can't broker them myself. I intend to get my license in NC and GA eventually, but I haven't found a need for it just yet.

Originally posted by @Wiley Strahan :

Hi All,

I am looking for an apartment building in North Carolina (Asheville, Raleigh, Durham) or South Carolina (Greenville, Hilton Head) and was wondering if anyone has a recommendation for a commercial broker in either state or those specific sub-markets. I am investing from the West Coast sunshine state (CA) so someone experienced with out of state investors would be great. Thanks in advance!

Wiley

Hey Wiley

Looks like you got some great responses on this thread from some folks embedded in the area you're looking at.  You may want to put it out there on the Marketplace.   I bet you'll get even  more.  Just a suggestion.

Best of luck

Stephanie

CAP rates here are the same as everywhere; it depends. 15 is not at all unrealistic but that is in a C neighborhood. 8 to 10 in better neighborhoods and 5 to 6 in nicer neighborhoods and even to achieve that you have to be a careful, attentive buyer.