Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

47
Posts
10
Votes
Olga Levin
  • Investor
  • Alameda, CA
10
Votes |
47
Posts

Need help evaluating a purchase offer in Miami

Olga Levin
  • Investor
  • Alameda, CA
Posted

Hoping to get some advice on valuing a commercial/indurstrial property and an offer that was received.

A friend owns a lot in Miami 33147 area. He operates a car repair and sales business there. He received an offer from a developer to purchase the property with 90 day inspection period and another 240 day for permits + 3 30 day extensions.

The offer came through a guy who came by the property to see if they wanted to sell and then brought a buyer a few weeks later. It's not currently listed on the market. The buyer is a big developer that intends to convert the lot into a gas station.

I am trying to figure out if the terms of waiting for the permits to come through are standard or if the buyer is trying to put the risk on the seller while tying up the property? 

How can I evaluate if the price offered is close to property value? Hard to find comps in the area, since it's a big lot with some structures and a small office, but I am guessing most of the value is in the land itself. Can someone recommend a local broker who knows the area and can give some ideas?

Does it make sense to list with a broker to get the best offer if he ends up wanting to sell?

Loading replies...