Commercial Warehouse Pricing

[Brian Young]

Hello BP fam!

I'm a real estate agent in Tampa Florida with a client out of my normal area of expertise. A friend reached out with a referral who needs a 30,000 sq ft warehouse with pretty specific criteria in the next 60 days. I'm quite knowledgeable when it comes to evaluating SFH but when it comes to commercial real estate I'm super green. I have found something I think would work perfect for them but dont know where to begin when it comes to being able to negotiate a great price. There doesn't seem to be anything else in the area that works for what they need but I don't want them to over pay. The listing is 60days old, is posted at $132/sqft and I have no idea if that's a competitive price. I haven't been able to find a good comp that is pending, active or has sold in the last year.

Looking for recommendations for a platform or resource I can use to be able to evaluate the listing price. Knowing the local rent would be nice also but the MLS and LoopNet has only gotten me so far. Or maybe the seller really can just ask and get what they want because inventory is so low and the warehouse is so niche? Do I need to put my referral in touch with someone else that is more experienced with commercial? I just want my buyer to get a great deal and for the seller to be satisfied at the closing table.

Any and all advise is greatly appreciated!