All Forum Posts by: Khaled Fawzy

I just found out that our maintenance guy who we've had handle most common requests on our commercial properties is retiring and I've been searching to find a replacement. Most of our properties are commercial (medical offices) and I've been having some trouble finding options for a replacement.

I've looked into some facilities management companies but it seems like a bit of overkill. I still have a list of contractors (electricians, plumbers, etc) that I know and trust but it would be far too expensive for me to use them every time a tenant has an issue. I'm mainly looking for a general type of maintenance guy to handle most common requests and if something comes around that is over his head, that's when I could go to the specific contractor. 

I called a General Contractor that I worked with for build design on one of the properties to see if they have any recommendations as they are a bit more connected to the local contractor market. I imagine finding a local contractor in the area that could do it would be a start but haven't had much luck populating that list with candidates.

Any advice/input on other ways I can find candidates or types of companies/services to look into would be very helpful.

These properties are in Ohio not DC btw.

Thanks!

I am currently looking at purchasing a lot that currently has 5 leases in an apx 16,000sqft facility (all 5 leases could expire by 2020, with the earliest being 11/2018 and the latest being 2020).

The seller has provided me with a 2013 appraisal that is quite thorough and has many comps and valuation approaches, but obviously is 5 years old.

He also told me that they have a recent appraisal that was done and when I asked to see it, all I received was a couple of sentences that used the income valuation approach to come to the same price he originally offered.

My main question is what value does the income valuation approach have to a property that could potentially be vacant in 3 years? I do have the rental income of all the properties but the valuation he provided didnt provide me with any details with how he got the price per square foot that he used.

Is there something i'm missing? Also in a situation like this, what would be the most accurate appraisal to help me determine the value: a fee simple vs leased fee or something else entirely?

Any input/advice that you guys could provide would be helpful.

Thanks

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I'm working with some investors that are looking to put in a medical building and I'm currently working on compiling some basic information on a handful of lots that they're interested in. Most of them are within a 1-2 mile radius of each other and I have basic information on the lot (mostly pulled from county GIS site). They also asked me to calculate the FMV per square foot for a proposed 9-10,000 rentable sqft building.

All the lots that we're currently looking at are vacant lots, and the cost of development of the lot into the building is not something i'm to include in my analysis as its going to be taken care of by the future tenant. Most of my experience in the past has been to calculate FMV on small and mid-size residential units and this is the first time i'm looking at something like a medical building.

Whats my best approach to determine the FMV per sqft? Since it's not quite as easy for me to determine what comparable rent is in the area, as it was with residential and apartment buildings. I reached out to a couple of the commercial agents in the area and asked them for the info and hopefully they'll be able to provide me with accurate results.

Ideally though I was hoping to learn how I'd be able to do this myself. Any advice/suggestions are appreciated!

Thanks!