Have a commercial listing that is going nowhere
I've never had this problem with a listing before but I am getting no traction with selling the business + building or just the building. The listing has recent updates to mechanicals and fixtures. It is on one of the busiest streets through town and has great visibility and access by foot and car. The owners are willing to do seller financing as well. It's advertised on LoopNet/Costar, MLS and I've done marketing by, print and social media. Similar spaces are selling for more and they are off the beaten path. What could I be overlooking?
Most Popular Reply
Hi Chris, most likely you are looking at two different buyers: one for the business and one for the r/e. Split the two when trying to sell a business with property. Doing this now for a Mexican restaurant I am listing and we are positioning the property to make it attractive for an investor (ten year nnn lease with 3% annual bumps). Chances are you won’t find any buyers for the business on Loopnet, plus...in my opinion, they had their day in the sun and fewer people are using them. Use BizBen and BizBuySell to advertise the business for sale and have a new lease for a buyer already worked out with the sellers. On the restaurant I am doing, the owner will either sell both together or just the restaurant first and r/e after, but won’t become a tenant.