All Forum Posts by: Gaspare U.

The issue is how are the water pipes sent from the basement to each floor. 

If there is a T from the main and one pipe goes to the 1st floor and the other to the 2nd then it’s easy. 

But if the the kitchens are in the North side and you have a single pipe that connects both apartment’s water in the kitchen. Then a 2nd pipe in the south wall that connects both apartment’s bathrooms. It’s going to be difficult to split. 

I would always opt to charge less on rent and have tenants pay their own water, gas and electricity. 

If the water is not under the LL name the water company could refuse service if there are back debts? 

Also I too am curious about true submeter. 

I agree with @Robert Webb and look at Delaware. You have contacts there and knowledge on where to get purchases. Good place to focus. 

Have one you can recommend? 

<bump> following along.

 If upside in value add is limited, just confirm the rents are "proper". You would hate to pay for a place that is 100% occupied and rents are $1400 while the competition is getting 1200-1300. You may have long vacancies when it does occur.  

Can anyone show me a place that was vacant and a franchise took it over with a new lease?

I will tell you what I appreciate in a Broker.

• Have ALL the information needed to run the numbers
• Someone who is able to reply back within 24 hours. A simple reply back email saying "I received your request, I will get back to you on X to let you know

Simple professionalism! 

McDonalds would disagree with you.

https://medium.com/@alexcjensen/forget-burgers-mcdonalds-is-a-real-estate-company-49658d4d9061

I've seen Two River Bank (249 N Ave W, Cranford, NJ 07016) built practically overnight. I spoke to an architect in KC who had a thriving business in the 80's wither away 20 years later. He told me the reason was Franchise is King in KC MO. And they buy one plan and use it over and over and over. 

You seem to have more experience than me in this. I have a 3 store strip in Lyndhurst NJ. I'll pay you a handsome commision if you land me a favorable lease with a National Tennant.  I'm not here to argue or insist, just learn and gain knowledge. So like I said you seem to have a lot more experience than me, if you say companies do not make a profit of the erection and development I'll take your word for it. Thank you for your time Mr Dickerson, I always love reading your comments and gain much from it.

Care to share an address to google map it? If not, no worries I understand. I will share this, the only time I have seen Starbucks rent out a place has been in Manhattan and Brooklyn. I live in Cranford,NJ and they recently opened two. One was a brand new, single tenant corner lot that was vacant, I assume someone (Sbs or a Developer who has an agreement with them) bought it and built it. The 2nd was rented out in a brand new complex in Cranfords South Downtown. I actually had an opportunity to buy a SBs and T-Mobile combo new build in Blue Springs, (KC MO area) but passed. It seems in urban and rural areas they build and sell it with a new lease in play vs taking an empty store front and increasing the LL's property value.  

I wish you luck, I'll cross my fingers, hell I'll even light a candle for you this Sunday. Just do me a fav, if you land them give me a ring and tell me how.

I agree, but it seems they build and sell as a "leaseback sale". Or they have a deal with a developer. Check this out as an example. I was just emailed this today!

Seems I can NOT post links but google SIG (Sands Investment Group) and they have all the commercial NNN listings your hearts desire. The most recent they sent me today was listed as:

Sleep Number in Mount Pleasant SC

$3.5mm with 5.90% CAP

Tenant: Sleep Number | Mount Pleasant, SC
Premises: 0 SF
Renewal Options: 2 x 5 Years

Lease Expiration: 5/2/2029
Lease Type: NN
Rental Increases: 10% Every 5 Years & At Options

It's a brand new build. Why wouldn't sleep number want to capitalize in some form on the sale of 3.5mm? I would imagine that 3.5mm - cost of lot - build out = a pretty good penny. But again this is only my speculation i have no proof but a builder could make a fortune with this sort of agreement with a National Tennant.