All Forum Posts by: Sean Murray

Personally, I have never heard of 'bird dogging'. Is this the same as driving for dollars? I recommend you reach out to the owner and find out what his goal/needs are for the property. Your best bet is a referral fee, where you can potentially earn 20-25% of the commission earned by the agent who you referred the deal to.

In my experience, I have never seen anyone wholesaling a commercial property, however, I could be wrong about that.

Hey @Geo Tan, I really like this idea!! If there is enough interest from people in the Greater Los Angeles area aka Inland Empire, I will definitely attend! Best of luck to you organizing the DTLA meetup.

I did some research.. what an awesome investment property! I do not see it listed on any commercial listing websites, what price are you advertising? What is the cap rate? Is it 100% leased? What are the current Tenants paying each month in rent? 

It looks like the property is an industrial flex building with an M-1(Manufacturing) zoning. Are the suites built out with majority office? If not, then you should really be marketing it as an industrial multi-unit flex building. I believe there is more demand for industrial product over office in the IE. If you have some time, give me a call. I would like to discuss this property further with you.

Hey @Robin Boyer Are you sure this is the correct address?

I am trying to find where the property is listed for sale and it is not showing up anywhere. Even google maps does not recognize the address. I'd love to give you a few tips, but need to do a little research on the property first.

My experience is that investors will analyze the financial strength of the Tenant, length of the lease, and other pertinent lease terms to justify value. Is the lease a NNN or Modified Gross lease type? Does the current Tenant have options to extend the lease and are there annual rent escalations in place? These are just a few questions that will come up. The cap rate varies depending on the market and demand. In my market (Greater Los Angeles area aka Inland Empire) there is a high demand for industrial product, and cap rates currently hover between 5.5% and 7%. The value of an investment property is derived from the NOI, so the higher the NOI and lower the cap rate, the higher your property will be worth.

I agree with the other comments above and would recommend you speak with a local Commercial Broker and get a broker opinion of value to sell as a leased investment. 

I work in Ontario, California which is one, if not THE largest industrial warehouse hub west of the Mississippi. The commercial trucking industry is extremely active in this area and many truck stop, truck repair, cross docking facilities, and warehouse facilities exists in Ontario and the surrounding cities. However, I do not know how many parking area's are available in the area that are directly for truck parking. This would be an interesting case study to see if it is a need.

Anyways, would be happy to offer any advice or answer questions. Best of luck to you

@Nathan Bowles Welcome to the BP community! I am also from Phoenix, born and raised. I moved to SoCal about 3 years ago but head back often to visit family.

Would be happy to tell you about my experience in Real Estate so far and also bounce some ideas off you.

1605 Calvary Circle, Redlands, CA, 92373

±3,656 SF building on 8,712 SF lot

• Highly visible property on the corner of a signalized intersection
• One of the most heavily trafficked intersections in the City of Redlands, Alabama Street and Barton Road has an average daily traffic count of over 35,000 cars per day
• Directly across the street from a Stater Bros anchored community shopping center
• Property is zoned A-P, Administrative & Professional (Allows various Office/Retail uses)
• Building was built in 1903
• Tremendous upside potential
• Estimated rehab cost: $150,000 - $200,000
• ARV: $1,100,000.00
• Offered at $625,000.00 ($170.95/sf)

A  Victorian style office building recently for $323.00/sf in Redlands.

Contact Sean Murray for more information!

Coldwell Banker Commercial SC
3998 Inland Empire Blvd., Suite 400, Ontario, CA 91764
Direct (909) 283-7105 | Cell (909) 353-3319 | Fax (951) 239-3147
CalBRE License #02003958
[email protected] 

keywords: mixed use, commercial flip, investment, fixer upper, value added, office, retail, riverside, san bernardino, yucaipa, highland, banning, beaumont, moreno valley, rialto, colton, fontana, ontario, rancho cucamonga, jurupa valley, norco, corona, chino hills, loma linda

@Account Closed Congrats on getting your license! I would be happy to give you some advice on breaking into the commercial real estate world. Feel free to PM me and I we can talk more.

Does the property have curb, gutter, and sidewalk improvements? If not, this could be a significant expense to a new buyer who may ultimately beat you up on price because of this. Also, if the street is not at its ultimate right a way, the city may require a 5-8' set back and you lose square footage because of this.

Industrial/Manufacturing is in high demand at the moment (at least in Southern California), and with the continued growth of e-commerce and companies improving their logistical networks, your property may have great value to a commercial developer.

I suggest you look at land comps and current for sale listings to give you an idea of what you may be worth. Financing is very tough to get for land, so seller financing is a great option to consider