Are there any FREE resources for researching Commercial property?

Question

So I'm aware that Coldwell Banker can pull up all types of information and zoning maps and square footage and historical sales prices and whatever.  But is there ANY site that can provide ANY of that information for free.  5 sites that provide a little bit of information is better than me having to bug an agent every time I find a new potentially interesting piece o' property....

I'm looking for something like a commercial Zillow, even for properties that aren't for sale.  I think LoopNet is OK for finding things with MLS listing #s and what not... but if an owner is trying to sell without a RE agent, is it possible to access this information, ya know, publicly?

Joel Owens · Answer

Busy commercial brokers are working on closing deals. People trying to get free data is not something a broker has time for unless that person is working to understand an asset class to put in an offer.

People just focusing on random thoughts, learning the space,etc. need to put in their time.

I have built a database over 14 years of thousands of owners but have put in countless hours building it.

If you are looking for something specific with a property look up the tax record and mail to the owner. Sometimes the owner is a group and they will have a website so you save the mailing fee. You can also look up the secretary of state filing for a corp and see who the officers are.

I don't look at spending money as a cost. I look at is at an investment that hopefully pays off more than I put in.

Small ball commercial for mom and pop type stuff is more suited to business brokers and local commercial brokers handling entry level type properties.

Example if someone calls me for a state for a 5 million retail property I likely know who owns it or where to find those properties. If someone wants an oddball 500k property that is unusual that takes more of a local touch from a commercial broker who works on those old town type smaller properties.

Bethanie Kollbaum · Answer

@Jason V. Duke Long definitely is a reputable source within the CRE Industry. The article is a bit old and there are newer developments in the CRE tech field.

Jason V. · Answer

Thank you, @Bethanie Kollbaum...I see this is a great resource for finding the right tool...  http://dukelong.com/9-pieces-of-the-commercial-rea...

Do you guys recommend all of these tools, or are there others that weren't listed, or one that is more recommended than the rest?  Also, which of these have free trials?  :)

Bethanie Kollbaum · Answer

@Jason V. If you are performing ongoing research every time you find a potential deal, you should definitely consider a CRE data and analytics tool. Besides LoopNet there are lower-priced alternatives that can give you the information you need for a full view of the property (property info, ownership contact info, financials, sales, debt etc). You can sign up for free trials and most of them should offer scaled pricing depending on what information you regularly need.  With one info source you can save time instead of going to 5 sites or constantly asking an agent. Try a data tool that collects from multiple sources and verifies it so whatever info you need is accurate.

These tools also can give you access to off market properties and ownership portfolios, making it possible for you to find and contact an owner without a RE agent.

Ron Dayley · Answer

The tax records can tell you a lot.

Kyle Doney · Answer

@Jason V. Unsure one that one. The city could tell you better. From what I know, if its existing they wont mess with you. If you were going to build and you built into an easement then you'd have problems.

Sam Shueh · Answer

Get a realtor license join a commercial brokerage to do your own search.

As a broker myself, the commercial sites are very closed to just certain group who like to think they are elite. Even images need to be purchased like $15 an image if you want to down load.

Jason V. · Answer

Thank you!! I found the parcel map on the county website.

Interestingly enough, it appears that one of the buildings on the property is OVER the parcel boundaries.  It looks like it's at least 80% over the line.

The owner of this property built all the buildings 20 years, and he claims that the back building is no farther back than the next business' building, but I think he might be wrong about that, just looking at various maps.

What are the consequences of buying property where a building is built over parcel boundaries?  It's not encroaching on any one else's commercial property.  The only thing behind the building is some type of creek or other water drainage deal.  What kind of problems can someone encounter before or after surveying such an obviously "out of boundary" building??

Thank you again!

Jeff Kehl · Answer

@Jason V. most commercial brokers use expensive paid services like costar to get that kind of info. Why not work with one of them, they don't charge the buyer anything and the relationship itself can be very valuable.

Having said that you can really find a lot of information yourself these days if you are looking for something specific. I was looking at a building being auctioned that has a beauty parlor in it. As part of my research I wanted to know how many beauty parlors there are in my town, where they were located and who owned them.

There aren't really any brokers here who deal with that kind of stuff but I pretty much found all of that info myself online for free.Using things like Google and Yelp I put together a list and then I built a spreadsheet using the county and tax websites of information about them.

It might help answer your question if you tell us more specifically what you're trying to do.

Kyle Doney · Answer

Usually your county website will have a parcel map with a lot of this info. Owner trying to sell without an agent comes down to your marketing  efforts of targeted properties. Only way to know is if they want to sell is if have a sign, put it on CL or Zillow by themselves. Or if knock their door, call ,or send a letter.

Are there any FREE resources for researching Commercial property?

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