Home Selling in 08081>Question Details

Mike Sal, Home Seller in 08081

Selling my property as Commercial

Asked by Mike Sal, 08081 Wed Sep 3, 2008

I have a residential/commercial property on Sicklerville Rd next to the Sicklerville Post office, it is zoned major commercial and i've been having some trouble selling it as commercial. with all of the boom in that area (it's between exit 38 and 41 of ac expressway) i have a super wawa across the street, 2 strip malls, a wachovia bank, a new pediatricians office and the new shoppes at cross keys i thought i'd be able to sell a bit easier. any suggestions? my property has a cape code with a separate garage on 1/2 acre, horse shoe driveway total is about 2000 - 2500sq ft depending if you outfit the basement and the garage (i am also selling for about $125k less than the property next to me) it sits in the middle of 2 other major commercial properties all 3 total about 2.5 acres..

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4
Was by you property just today. I'm in the post ofice regularly.
Selling commercial is much different than residential. Your marketing has to be focused toward enterprise. You need more than a residential agent to effectively market your property as a commercially zoned property. I see mostly you are currently marketing toward small mom pop type operations, which is probably what your bldg on the property is best capable of being used.
The growth on that corner is primarily due to WaWa and it's traffic. That's a good thing for you. But more so attention would be better given toward commercial developers, especially in this tight money. Imagination and a good marketing plan may move your property. But don't expect a commercail deal to go 123 like a residential. They take a long time to cater and make happen. Smaller operations can work but you need a strong model. Don't just shoot arrows in the dark. An agent who has a focused plan will do best. Make them develop a plan of marketing for you. Let them show you a target they are shooting for. MLS can be the luck, but you need more than luck , you need your agent to make things happen. Make the deal work and hold on tight so nothing falls through the cracks. Like I said it could take a long time, expect a long process. The money avail for commercial is tight big or small.
Any further questions I welcome you to contact me personally.
Larry
0 votes Thank Flag Link Thu Sep 18, 2008
Mike Sal: A small lot on a busy road surrounded by much larger enterprises may be a tough sell. Think of the businesses that could prosper there. Most businesses take a long time to invest in land. If it were not so, how could so many shopping centers prosper? Dig in for the long seige with this one. I've seen properties on the market for over five years in this situation.
0 votes Thank Flag Link Wed Sep 3, 2008
Hello Mike,

I specialize in Sicklerville real estate. And I'm very familliar with the area where your property is at. Here is your listing as seen on the MLS http://www.trendmls.com/mls/Client/Email/EmailClick.aspx?s=4… Did you know that the public record says that it is currently residential. However my first question would be how did you come to your list price? A property's highest and best use is what really determines how it should be listed. How is the property currently being used? It appears as if the lot is not subdividable. There are many factors to be considered here. Feel free to call me in my office to frankly discuss.

Jeremy S. Hill, Realtor Associate
Keller Williams Realty
http://www.sicklerville-real-estate.com
1814 Route 70 East
Cherry Hill, NJ 08003
Office: 856.321.1212 ext 227
Fax: 856.321.1414
Direct: 609.876.5817
0 votes Thank Flag Link Wed Sep 3, 2008
Be aware that selling commercial typically takes far longer than residential. If it hasnt been on market more than a few months your concerns could be premature. Many developers have quite a process to go thru to make decisions. (assuming you have city sewer and water and will be able to get permits) It is possible that the structures on site actually are bringing your value down especially if all around you is new. If there are vacancies in area this may also hurt you.
0 votes Thank Flag Link Wed Sep 3, 2008
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