All Forum Posts by: Gabriel Petsios

Thank you for your reply @Scott Meyers! It was really helpful. Ideally I would like to have a single story facility. The only two questions I have is, 1. How do I obtain a feasibility study? 2. How or where would I go to seek financing for such a major project? Of course I'm researching as much as possible. But the second question is I think the most important one. 

Thank you

That's a great idea! Of course all of this is still in the idea stage. I would have to do a feasibility report to make sure there is a need. As it stands, I have one storage units facility across the street from me, as well as one two doors down from me.

Thank you!

I currently own about 2 acres of property in upstate NY. I am trying to sell my restaurant that sits on that property. Since I am having difficulty selling it, I thought I would get creative. I thought about utilizing that property for storage space. If feasible, I would knock down the restaurant and produce storage units for the members in that community. The biggest question I have is 1.91 acres of land big enough to build storage units on the property? Please share your thoughts!

Thank you,

I currently own about 2 acres of property in upstate NY. I am trying to sell my restaurant that sits on that property. Since I am having difficulty selling it, I thought I would get creative. I thought about utilizing that property for storage space. If feasible, I would knock down the restaurant and produce storage units for the members in that community. The biggest question I have is 1.91 acres of land big enough to build storage units on the property? Please share your thoughts!

Thank you,

Gabe Petsios

Hi @Alina Trigub,

Is the person you mentioned interested in purchasing a restaurant? Please let me know!

Thank you

Hello all,

I currently own a restaurant that I am looking to sell. It has been on the market for 11 months now. I am approaching the end of my contract with my current broker. In the 11 months, not a single serious lead has been produced. I do understand that commercial property takes a lot longer to sell than residential. However no one has come in to at least look at my place. Having said that. I am looking for any recommendations on a commercial broker that will work as hard as me to sell my restaurant. I am located in the Rochester, NY area. I would like someone that is local, as well as someone that has a great deal of experience in commercial/restaurant properties. Any help would be appreciated!

Thank you,

Gabriel Petsios

@Joel Owens,

I actually put my restaurant on www.bizbuysell.com. But no leads from there. My broker has been doing commercial real estate for 30 years. I got his name from a referral. I am a single unit operation. We have been in business for 31 years. It's been through two generations. My father founded it, then handed it over to me. We make about 500k after expenses. I also own the land and the building. I just feel like I'm chasing more leads than my broker is. They might be tire kickers, but at least I'm getting people. I just need to figure out how to light a fire under his *** without burning any bridges. 

@Joel Owens

Thank you for your reply. How did you get out of the restaurant business? If you sold it, what steps did you or your broker take in marketing the sale? Any information would be a tremendous help!

Thank you 

You have a good point Brant. I really need to sit down and meet with him and find out what he is doing up to this point. Perhaps light a fire and motivate him a little!

Yeah it is hard to say Chris K. This has been an ongoing debate between me and my family for quite some time. It would be ideal to find someone that actually put up a sign and find out what results they had.