Commercial Property Deal Analysis - Off Market

[Brendan Sullivan]

Hi Folks, 

I am a landlord and full time real estate flipper in Florida, but I primarily deal in SFH / Residential. I am looking to get into the Memphis commercial RE market due to the fact that local commercial RE is so expensive and lending can be tough here in FL. I'm currently analyzing an off market deal off American Way close to Parkway Village. I was hoping to run it by a local expert to get their thoughts. My initial thoughts on it are a BRRR or short term hold and flip, but need some advice from locals. Let me know if anyone can point me in the right direction! Who's the local Memphis commercial expert?

Asking 380K - 9,800 sqft. Currently leased month to month for 5K. 

Thanks! 

Please PM me or drop thoughts in the comments.


 

[Cherie Ganesh]

I'm a semi-retired commercial broker who specializes in retail, site selection for retail and restaurant clients and personally own  retail investments.  As a CCIM, I have access to demographic data and also know Memphis well to validate data.  Commercial investments typically require a more complex market analysis than SF investments.  I'd be happy to discuss the particular property you're looking at, get an understanding of your risk tolerance and what kind of tenant is either currently there or you would expect to lease or buy the property.  

Cherie Ganesh, CCIM

Lifetime Member of Certified Commercial Investment Member (CCIM) Institute

[Brendan Sullivan]

@Cherie Ganesh. thanks for the quick reply! Sent you a PM with more details. Would love to know your thoughts.