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Updated over 7 years ago,
How can i find the value of commercial real estate
Hello BP, I work with someone who owns a commercial property (14 unit) in trenton mi, 48183, brownstown township area, and i believe he's renting it way below what he could, theres a lot of value add. dont get me wrong he keeps it nice with turn overs, reapainting, flooring, etc. however there's things like heating and cooling that can be updated, the exterior still has lead paint that is pealing off. what im curious about is that i might want to see if hes interested in selling, he's close to my dad and he owned this property for awhile and self manages it so he might be more motivated tp get rid of it. i guess the question im trying to ask is how do i male sure how much the property worth. i listen to all the podcasts and read a few articles, books, etc and i know that commercial property dont go off comps but how do i really understand how much i could pay for it. also any pointers or tips are very appreciated. im also open to partner with someone to get the hang of things. looking forward to all the feedback! :-)