How We Provide Solutions for Commercial Property Sellers and Buyers
Case Study: The Unwanted Church Complex
A church in Milan was to be sold along with another property the former congregation owned down the road. The set of properties remained unsold because buyers either did not want additional property or could find no immediate use for it. Our solution was to sell the properties as separate entities, but with the church buyer retaining a right to buy the second property at a set price should another interested buyer appear. As it turned out, the church property buyer was a growing congregation that soon found good use for the second property as an event facility.
Case Study: The Orphaned Church Building
A church, with its parking lots sold to be surrounded by a large subdivision of new homes, was no longer convenient to use — but it could be marketed as unique residential space. It soon sold to a family that converted the building and enjoyed its architectural interest.
Case Study: Empty Railroad Land
A boat dealership needed space for parking. A railroad had lots of space. The solution was to sell the property on a square foot basis, allow the boat dealership to pay for the improvements, but leave the deed and right-of-way with the railroad. This freed up the space for a higher use without having to re-zone the parcel and deal with local municipalities.
Case Study: Miles of Land
How does one sell three miles of land that is only sixty feet wide? One company along the route needed extra land, but not three miles of it. Our solution was to sell the parcel, re-survey it, and create parcels sized for the width of each business property along the route. Every business — all along the strip — purchased their parcel. Plus, a roadway right-of-way was donated to the city.
Case Study: State-Owned Church Property
A sizeable church property was purchased from the state. The property was increased with purchases of surrounding land and divided into three parcels. Furthest from the road, a large condominium development was built with a multi-lane access road along the east side of the parcel. Next, a commercial office building with highway frontage and a storage yard behind. Finally, five acres of space at the west edge of the property with highway frontage was donated to a church, providing a $1 million write-off for the developers.
Case Study: Empty Roller Rink
A bargain price and a low down payment were enticing, but the addition of adjacent railroad property and a boat store made the deal for a new $1.2 million Bass Pro Shops store. Sometimes, more is better.
Case Study: Railroad Holding Yard
A 27-acre space served as storage for rail cars near a GM plant. Investors sought value in the scrap, but high concentrations of creosote raised costs and lowered returns. The solution was to complete an environmental cleanup and sell the property at a profit to a lumberyard, plus lease part of the property for $3,000 per month to a cell tower operator.
If you have questions or need solutions, give Bill a call.