Commercial Real Estate Investment/Business on our property

Advertisement


Question
Hi - I presently own a dog boarding facility. It is on my property. There is 11 acres total on a major highway in a fast growth area. There are 2 homes on the property as well. We are interested in selling, and have received a general figure from a local real estate agent as to the worth of primarly the land itself.
Being that this is a mix of commercial and residential property, and that this is kind of a specialized type of business, I am wondering if you could please give me some suggestions on the type of Realtor we should be looking for to list our land/business.
Thanks so much!

Answer
Brooke:

I believe you wish to sell two things: real estate and a business.

Start with an appraisal of the real estate (land and building). This should be accomplished by a licensed appraiser familiar with commercial properties (as opposed to a real estate agent, who can merely give their opinion of value.)

If you are selling the business I suggest listing the property with a business broker, who will also value the business. This is a very specialized niche, so make certain whomever you select has experience in actually marketing (and selling) businesses.

The business broker will then factor the value of the real estate in determining the value of both business and real estate.

Best wishes,
Steve
P.S. I was born in Waco.  

Commercial Real Estate Investment

All Answers


Answers by Expert:


Ask Experts

Volunteer


Stephen A. Cross, CCIM

Expertise

Commercial Real Estate: Leasing, Buying and Investing I specialize in Tenant and Buyer Representation

Experience

Since 1984 I have helped over 700 businesses of every size and description solve their real estate problems.

Publications
I have written extensively on matters related to leasing and buying commercial real estate. My articles appear in business magazines and trade journals. I also lecture on the same topics.

Education/Credentials
B.S. Accountancy (1973) CCIM (Certified Commercial Investment Member)

©2016 About.com. All rights reserved.