All Forum Posts by: Woodrow Walton

Hi Ryan,

How many days do you have remaining to complete the exchange? You have 180 days from the sale of your property to close on the next one. If you are set on investing locally, I would partner with an experienced commercial broker to help you find something. I may even know a good broker in your area. Ultimately, it sounds like you still have time to try to find something better. I would only accept a 5 cap if the tenant was a national tenant, the property is A-class, the lease is fully NNN, and there is room to add value. My team and I are currently selling an excellent warehouse in Ashland, OH. The tenant is Ohio Tool Works which did $17M in revenue last year- a very solid tenant. The lease is NNN, netting over $318,000/ year. The property is currently priced at a 6.44 cap. We have plenty of other properties available as well. If you would like to invest in central Ohio, we can help.

For Commercial Properties, it is best to post the land on all the major CRE (commercial real estate) exchanges. These services, however, can be thousands of dollars a month which acts as a large barrier to entry for anyone looking to get into the commercial real estate world. You want to make sure you are getting the most exposure possible so as not to leave any money on the table. I would recommend partnering with a well-known commercial real estate agent that specializes in land sales. It will be worth the fee and you will know you are getting the most value out of the property

Most of the major developments that have occurred in Columbus, OH in the past few years have had a tremendous impact on the property values of the nearby homes. If you anticipate that this development will become a big attraction and have a positive impact on the community, then I would anticipate this to play in favor of the desirability and value of the nearby homes.