Can Double Edge Real Estate help with commercial property?
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The short answer
Yes. I help clients buy, sell and size up small commercial and mixed-use property in Utah, such as small office and retail buildings, mixed-use buildings and land. Commercial deals have more moving parts than a house: leases, zoning, income and expenses, and financing all matter. I will tell you plainly when a deal needs a specialist, and help you bring one in.
What types of property?
- Small office and retail buildings.
- Mixed-use buildings, such as shops below and apartments or offices above.
- Multifamily buildings with five or more units, which usually need commercial financing.
- Land and lots, including property with redevelopment potential.
What should a buyer check?
- Zoning and permitted uses, with the city or county.
- Current leases, the rent roll and tenant history.
- Income and expenses, ideally for the last two or three years.
- Building condition: roof, mechanical systems, parking and access.
- An environmental review when the property's history calls for one.
- Financing terms, which are usually different from home loans.
What should a seller have ready?
- Leases, the rent roll and any tenant agreements.
- Operating statements for the last few years.
- A list of improvements, with dates and costs.
- Survey, title and service contract information.
How is commercial property valued?
Income property is often valued on the income it produces, not only on comparable sales. Buyers look at net operating income, cap rates and lease terms. I will help you see how your numbers look to a buyer or a lender.
Frequently asked questions
This page is general information, not legal, tax or financial advice. Value estimates are opinions of value, not appraisals. Talk with a qualified attorney, tax professional or lender about your situation.