Commercial retail renovation

[Tim Brockhoff]

Investment Info:

Retail commercial investment investment.

Purchase price: $985,000
Sale price: $1,300,000

Was a commercial space I renovated on $65,000 including equipment for my business. Was a dual use residential/commercial property in Old Town Alexandria, VA.

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

I needed a building to put my business in.

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

Commercial broker

How did you finance this deal?

Local bank. No money down.

How did you add value to the deal?

Renovating for commercial use.

What was the outcome?

Beautiful space I used for 3.5 years then sold.

Lessons learned? Challenges?

This one went well. I should have kept it.

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

Somerset Trust Bank