It’s a cool property. Do you see it? Can you imagine it? Can you see yourself owning it? It’s one of CEG’s properties, and we see it as a perfect example of having a vision and a great deal. Let me explain.
1. You can’t build like this anymore. With today’s number of regulations, you wouldn’t be able to replicate this property today. Built in the seventies, it sits as a fantastic, very clean, light industrial, single tenant, and stand-alone space. And these days, they’re hard to find.
2. When you pull up to it and look at the exterior, you wouldn’t guess how cool it is on the inside. With an original footprint of 2,160 SF, the previous owners added a mezzanine to add more square footage. They thought about the space with both a creative and practical eye. And someone out there is going to benefit. More square footage, more income potential.
3. I often talk––and have written about––how important curb appeal is, and this is a perfect example. With a new coat of paint and some slight changes to the property, this little gem shines. Just look at the difference! It’s shown in CEG blue in the first image, but what color would you choose? Color dramatically changes the look. A coat of paint can do wonders and would be relatively inexpensive to do on this one.
4. Back in the blog, LOCATION Matters, I laid out things to consider when deciding on a property. Does it fit the needs of the business? Do the traffic patterns work? Is it visible? Does your vision align with the neighborhood? This building is located in Northeast Minneapolis, the hot, hip, and creative center of the city. It’s a great place to be and has amazing access to downtown and 35W.
5. As an investment option or for a business user, a buyer may want to protect their cash but still make the deal. A lease with an option to buy or contract for deed is a strategic way to handle the deal and get control quickly––before it’s gone. By going through the pros and cons I outlined in Unique Deal Options, a buyer may find it’s the best way to move forward. And we’re open to it.
Conclusion
Smaller deals are often seeds to get into bigger deals. This property is the perfect example of gaining investment experience without taking catastrophic risk. It’s also a great opportunity for a small business owner. It’s a matter of knowing your needs, being open to opportunities, and finding potential in commercial properties. With the right vision and strategic thought, this is a golden opportunity.
Jeff Salzbrun is the owner/broker of Commercial Equities Group (CEG). As a veteran-owned real estate brokerage, CEG has been involved in thousands of sale and lease transactions, ranging from single offices to 250,000+ square foot buildings. At CEG, we get your deal done. We know space, and we know the CRE business.
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