Value add Retail Plaza Appraised 40% above contract price!

Investment Info:

Retail commercial investment investment.

Purchase price: $1,050,000
Cash invested: $325,000

10,250 sqft value add retail center in Wichita, KS. Property appraised 40% over contract price at $1.45m

What made you interested in investing in this type of deal?

huge value add potential.

How did you find this deal and how did you negotiate it?

Was orginally listed for $1.4m. I put an offer on the property 6 months prior for $1.05m. They went under contract several times but the buyers just could not close. They came back to me an accepted my offer 6 months after submitting it.

How did you finance this deal?

Local credit union commercial financing. 75% LTV, 20 year amortization, 5 year terms.

How did you add value to the deal?

Cleaning up the parking lot, painging the building, improving the monument sign, leasing it up to better tenants.