All Forum Posts by: Steve P.

Hey guys

I was approached by a Navigation company about rooftop lease space for an antenna to be used in collecting data for self driving cars, and drones.

Its a small unit that receives & transmits data, part of it would be inside my building, and  I would supply the power.

all the regular mumbo jumbo in the lease like access with 24 notice, and what not.

Kicker is they offered $50 a month, I didn't even  bother to respond, I believe the guy searching for sites is just a hired sales man, he sounded scripted.

Anyone in a rooftop lease out there that can share some advice,

at $50 a month I wouldn't even consider it.

Thanks

Thanks to all

As a follow up from all the great advice, I contacted a local company to do a BPO who is familiar with my property and the surrounding area, his opinion was about 75% of what I felt my property is worth, he did not want to take my building in to account, but I have 3 tenants with steady income, he felt the that being they would tear down my building, they would only want to pay for the land.

He guessed who was interested in my property before I even told him, he also stated he knew their real estate acquisitions rep, and has dealt with them for the past 15 years, so we agreed to a single party listing.

My broker called me yesterday to let me know that he contacted their real estate acquisitions man, whom was sort of angry and short with him after telling him that he had a single party contract on the property, the interested party then went on to claim he had knowledge that the city has plans off taking my property in an eminent domain to package it up with other properties as one big development.

This is where the facepalm meme would go

Anyway

Thanks again

Not sure if this is posted in the right forum, but ill ask. I'm looking for advise on how to go about negotiating the best price on a property I own.

Heard from an acquaintance that a certain retail outfit was considering a property across from me, the problem is the parcel they are looking at has no water, sewer, or commercial access on to the main road, water and sewer would have to be brought over from across the street.

I emailed them to ask if they would be interested in my property, being I had water and sewer at two points along my lot, with commercial access on to the main road.

At this point they are asking me if I have a price. and they have asked for a price 3 times.

1. Is there anyway of getting close to a fair price for the property for both parties without me having to spend 4 to 5K to have the property appraised.

2. Setting to low a price and leaving money on the table

3. Or scaring them off with a to high a price.

Thanks

Hey Folks

I have a commercial property with cash flow, that is being sought after by a developer looking to develop an adjacent property, he would like to acquire mine along with it, as it would offer a direct drive to feed his development.

My property has 2 long term tenants, but also has room to develop additional structures.

I do not want to sell and have to take any capitol gains at this time, nor do I want to try to switch properties (1031) right now.

My thought was leasing the entire property long term, say 25 to 50 or so years.

Do developers frown on long term leasing?

Any other thought on how else to approach this?

Looking for information, links, or advise on ways of using a small 403b towards investment property.

This was left by a parent to a child after death, but is slowly being eaten away by fees.

Any good reading out there?

Would like to use it towards an investment property that may eventually become a retirement property.

Thanks all

Hey guys

I have a commercial tenant that is on a month to month basis, he has been for about 2 years now, he will not sign a lease with me, keeps blowing me off, he is a bit late on paying the rent some times, lets say up to 2 weeks, but is up to date.

But I also have someone that would like to take over his space.

Is there anything in Wisconsin that would stop me from asking them to give up their space in lets say 60, 90, or even 120 days with proper notice?

Thanks

Hey guys and gals

Can you guys tell me if this is the norm,
this is from a listing contract that was presented to me yesterday.

Thanks for any input

Steve

Referencing Lines 28-32: Broker's commission
shall be: the greater of four percent (4%) of the average annual rent over the term or $4.00 per
square foot, 1/2 paid upon execution of the lease and 1/2 paid upon occupancy. In the event of a
co-broke, commission shall be an additional fifty percent (50%) of said amount. 9)Reference Lines
238-239: This Listing Contract shall continue to renew for consecutive six (6) month periods or
until which time Seller delivers to Broker a thirty (30) day written notice to terminate this Listing.

Getting allot of site errors, cant even contact Joshua about them, Had to re join just to reply to posts.

As far as some of the questions

Strip center is 25 years old, I keep everything maintained, I always have people asking if I have space.

My parcel is all flat, anything that isn't building or parking lot I had graded and seeded with grass, it is kept weed free, cut, and its like a park like setting. the 24 acre parcel has hills, and wet areas that DNR wont let be touched.

I don't need to sell, but also know if the corner develops my site is worth much more, so if I hinder it I shoot myself in the foot.

One developer brought up an easement to me for an entrance, his question was would I GRANT him an easement, not sell him one,
that was back when a large food chain wanted the corner, he was going to develop it and then lease it to them( pick n save), not sure if I can name them.

Anyway I got skidish with developers and brokers, they would call and want to meet at the local StarBucks, try and get me to tell them what it would take for me to sell, tell me they were going back to draft up an offer, I would never hear back, one local broker drafted up an offer to purchase, the offer was transferable, it was full of errors the city wasn't right, the county wasn't right, it was just a mess, so much that I began to think the commercial real estate world was full of shysters.

I had a broker list my site for lease a few years back, asked me if I wanted to sell because of the corner being up for sale, I said maybe it all depends, so to make a long story as short as possible, he would tell potential Tennant' that I was thinking of selling, so not to depend on long term leases, then tells me lets just list it for sale, its not leasing out ! I chewed him out after catching him, told him he should go into home sales.

Thanks guys for all the input, They have me to the point where I question my sanity!