All Forum Posts by: Dr. sharon Gold

@Joshua Dorkin

@Ellis San Jose Thanks, that is exactly the range I took, since the asking price is well over a Million, the reassurance is important to me. The building is a free standing, high traffic area in Camarillo.

That's really great!  Good luck in the competition : )

@Ellis San Jose  thank you for elaborating and expanding in your answer. 

As local investor, what would you feel an average retail cap rate is?

Another question, what terms do you find realistic for seller financing in our market?

Thanks

Sharon

Hi Tom, Thanks for the replay. I feel that the location (dirt- like what Joel said) is the key aspect here. However, how do you value that? w re not going to demo the building, it is dated, but overall a nice building.

He would like to sell , but is in no hurry to. he did mention to us, that he was not successful selling it before, from what I gathered , for two reasons:

1) Doesn't have  tenant in place (he's an owner occupant, want to retire)

2) 25% of the square feet is not that usable.

I am using these as negotiation points, but trying to figure out the real market value, to justify my offer price and avoid overpaying big times

Thanks everybody for your input. it's a free standing building, but not the whole building is his. his broker (of course) told him that you don't set value by the tilte company comps.

The rent idea is a good one- thank you Michael.

He is actually off market, and I got him with a direct mail campaign, looking for this tpe of location...for the rght price.

Hi BPs,

Found this commercial building, great location, but  having hard time placing a dollar value on the building, since its not going to have tenants in on sale and the difference from what the owner wants and the value of the title company market comps, (and Tax assesor) is about $300,00 (30% of purchase).  the owner argument is, that's prime location, however, the building will need work, and the layout is not 100% functional (25% is a second floor unit, no a real separate entrance.

Any suggestions? 

Thanks !

Hi- thanks for replaying-

Mark- looking to purchase in Ventura County, up to a million. The broker is only willing to work with what is available, advertise  in the market.

Joel-  Could you explain how you (or assistance) practically making those list? do you utilize a title company or the tax assessor? the building can be a retail or industrial.

Hello all BP's,

Being a silent listener for almost a year, I found myself reading and enjoying discussions and blogs alike,. However, struggling with a property-finding challenge for a while, I thought of trying to throw my question in, and hopefuly get some help:

We are trying to build a list of owners of free standing commercial buildings, in my area (Ventura county, California). thought of going to the county, but when I called, they said they don't have a way to separate proprieties. (anybody had different experience?)

The reason I am looking for a free standing, is that thee rest are a whole strip malls, which we can not afford. We also have limited time guidelines- need to find a commercial location in the next two month.

Any suggestions or thoughts, would be highly appreciated!

Thanks

Sharon

P.S.,

Also working with a broker, but he sends out the stuff from LoopNet, which has been very low in inventory in the last year.