The building has been vacant for a few years and needs a lot of work. Since it is divided into 4 Units and in right off a main highway I am having trouble find a comp for it. I am considering listing with a realtor but would like to get an idea as to what it is worth before doing so. 3 of the 4 units have their own bathrooms. Any input would be great.
2007-09-06 05:14:40 · 4 answers · asked by irishnrh 1 in Local Businesses ➔ United States ➔ Dallas
If you contact a realtor, they can help you with that before listing it.
2007-09-06 06:56:51 · answer #1 · answered by Dfwteddybear 7 · 0⤊ 3⤋
Well, there will have to be some questions to be answered.
1) Can you see the building from the freeway?
2) If you can see the building from the freeway and then
exit, would you be past the building?
3) What are the sign requirements for the building i.e.
how large can the sign be meaning one that you erect?
4) How large is the parking lot?
5) What condition is the roof, when was it replaced.
6) How much work need to be done to the building?
7) What freeway are you off of? Heading which direction?
8) Is the plumbing, flooring and the roof that we spoke about
in good condition.
9) Why has be building been vacant so long?
With the some sub-prim market causing such collateral, damage meaning even the persons with good credit has to struggle, now days to get a building financed. You may want to refurbish and then have renters.
After renting, hence proving a cash flow the building with improvements will not only sell faster - The ability to secure a loan will be greatly enhanced.
Here are just two areas to look at
ONE
The ability to secure a loan for a building will be much easier than a with clap boards for
windows.
Two
You will make a lot more money if the building is presentable and most of all has singed leases and of course people paying the lease.
OH!! And if you need a contractor, I have a very good friend
in the Fort Worth Area that will be glad to save you a lot of cash if
you want to clean up your place.
sirhollandeudy@yahoo.com
2007-09-06 08:51:01 · answer #2 · answered by holland b 1 · 4⤊ 0⤋
You need to contact a Commercial Realtor. Try the Broker below, he is the best in the business and has years of experience. Tell him Jon sent you.
Herb Dorsey
SimplySold Flagship Real Estate
2445 Midway Road, Suite 107
Carrollton, TX. 75006
P: (469) 688-2800
2007-09-06 09:53:24 · answer #3 · answered by citronge 2 · 2⤊ 0⤋
Until you can get it rented, it will have very little value. You are close enough to Ft Worth to find a tenant. Clean the place up, paint it. Get it in a good state of repair. Judge rents from other properties renting in your area of Ft Worth. Offer the first month free. Join your local landlord association, check the prospect's credit, police record, court records for previous evictions,etc. Get with it. You wanted to be a landlord, do the work. Your net income will determine the value.
2007-09-06 07:08:45 · answer #4 · answered by Bibs 7 · 4⤊ 0⤋