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Updated almost 8 years ago,
- Real Estate Broker
- Naples, FL
- 6,551
- Votes |
- 9,365
- Posts
Finding Good Deals On Strip Centers In FL or Tx--Good Luck!
I have been on the prowl for a good NNN strip...or maybe one that isn't NNN. So far, abysmal results.
1. One listed on Loopnet...huge vacancy, price/SF pretty low, wondered about the possibility to turning it around. About EIGHT emails and one phone call to broker--NOT ONE RESPONSE. Joel Owens looked over the info for me and said NO..which I was inclined to say but wanted to at least try and learn something from the deal. That never happened.
2. Another center caught my eye. Signed ND asking for all details. This is a strip that has been in operation for several years. I asked for operating statements and they sent a pro-forma. I asked twice for operating statements because I don't care for pie-in-the-sky number..I want to know what is it making NOW. NO RESPONSE from broker.
3. Get an email from a broker on a 10+cap in the Orlando area. Before I get details they get two full price offers. I talked to @Joel Owens and he states that centers under 2M or so are in high demand by investors.
This seems to be an area that may be difficult to get into for a quality investment below 2M or so. Suggestions?