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Updated over 6 years ago,
Any advice on selling a $2M commercial property ourselves?
We own 1.41 acres with a 7,000 sq ft 2-story commercial building in Bentonville, AR about .2 miles from the new (under construction) Walmart Home Office Campus. Our listing with a realtor just expired and we're not renewing it. Details aren't important, but we weren't happy. This wasn't our first disappointing experience with a realtor. We're a lot more motivated than the realtor was, but we're not sure how to market it ourselves and would appreciate any advice!
Our parcel has 315 ft of road frontage on the same side of the street as the Home Office campus will be. It's located between the highway (.5 miles away) and the Home Office, so is on a major commuting route. Walmart alone employs 14K+ people in Bentonville, and thousands more work for vendors. Bentonville is booming, we've received estimates from $1.7M to $2.2 M for this property. Our parcel is the central parcel surrounded by others we don't own - together they total about 7.5 acres.
Currently the building is mixed use - two apartments above and retail below with a separate storage building in back. The greatest value is in the land but the building cash flows nicely. Our preference is to sell, but we might be open to discussions about developing with a VERY experienced developer. In other words, we could really use some advice.
Thanks for any help you can offer!
Jennifer