All Forum Posts by: Matt Splittgerber

I purchased a vacant qsr building earlier this year.  Its a superb location and we are confident in finding a tenant.  We were approached by a very large fast food company about the building.  They are much more complicated than the normal fast food chain.  We are meeting with a group that specializes in development for this particular brand.  Where we would provide the building/land/ initial work and they would bring their expertise in development of the building and contract negotiations.  

We have never done a joint venture like this.  Anyone have any experience in this.  What do you think a fair split moving forward?  I know this is vague and i cant share numbers but just curious if anyone has any insight.

I'm looking at an apartment complex that I really like.  The only issue I see is that everyone is on one electric meter and LL pays all electric.  There are 33 units which is far too many.  It is priced accordingly, but I believe I can really start to to profit if I can push the electric to the tenants.  Has anyone added electric meters to separate electric?  Do you guys have a ballpark figure on how much that would run me?

So its NNN with $745k in rent still remaining and another 170k in taxes and utilities. I assume that is a consideration as well. What discount rate do you typically use for your NPV? Do you just use the current interest rate?

I am meeting with a broker tomorrow in regards to this question, but I was curious if anyone else has dealt with this scenario and what percentage they received.

I have a dark QSR that the operator still owes 8 years on NNN. Its a good location, and the operator is a big outfit and still paying the rent. They have approached us about a buyout of their lease. Has anyone negotiated one of these buyouts and what percentage of the remaining lease did you take as a lump to let them walk away? Like i said, I'm going to let an experienced broker negotiate this, but just curious what others have seen.

We have office building downtown mason city, IA. 21 offices ranging from 150sqft to 2500 sqft. 20 of the units filled. Nnn with tenants paying their portion through CAM. 
131k NOI. Looking for a 7 cap.

Previous owner owned the building for 25+ years and took meticulous care of the building but had most tenants at month to month at low rents. We filled all the units except one and extended leases at higher rates. Quality sticky tenants with a majority of the NOI leased through at least 2026.

let me know if you’re interested. 

Thanks for reading! 

We have office building downtown mason city, IA. 21 offices ranging from 150sqft to 2500 sqft. 20 of the units filled. Nnn with tenants paying their portion through CAM. 
131k NOI. Looking for a 7 cap.

Previous owner owned the building for 25+ years and took meticulous care of the building but had most tenants at month to month at low rents. We filled all the units except one and extended leases at higher rates. Quality sticky tenants with a majority of the NOI leased through at least 2026.

let me know if you’re interested. 

Thanks for reading! 

What’s everyone’s opinion on, in a recessionary environment, would buying one nice luxury unit be better or worse than two mid market units? 

Its in Gatlinburg. I've spoken to the someone from the planning board to confirm what the realtor is telling me that only one dwelling unit is allowed on a site.  Maybe I'll have to inquire about renting the smaller unit out as a long term rental. Not sure if that's allowed.  

But good to know there is a market for the MIL Suite included.  I can't imagine traveling and having someone in my family in a totally separate suite.  Kind of the fun of having a big house.  But i suppose if theres a family with a small child they may enjoy the separate space.

Yeah I won't be living in the home it will be purely a STR. I wonder how much value an included In-Law suite would provide for an airbnb.