Medical Dental BRRRR - Finished

[Christian Decker]

Investment Info:

Office Space commercial investment investment in Everett.

Purchase price: $2,500,000
Cash invested: $500,000

Invested with partner 50/50. Building was 70% vacant by the end of 2019. Spent 2020-2022 releasing and capital improvements.
Fully leased, brought cash flow up, value is now over $5,000,000. Fully stabilized and solid investment with long term tenants. .

What made you interested in investing in this type of deal?

Value add property in Commercial.

How did you find this deal and how did you negotiate it?

On market deal.

How did you add value to the deal?

Re-leased majority of tenants

What was the outcome?

Fully leased, anchored by Providence

Lessons learned? Challenges?

Medical Dental buildings take longer than traditional retail. Budget for more time than expected.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent that did the leasing.