Hi,
We've got a student accomodation in Keilor Downs, Vic.
The rent per month is $3500.
The property has potential to increase rent by value adding. We are not providing much value added services to tenants.
The reason for sale is we need deposit to fund a six unit development that will take place in the sub-divided back yard of this student accomdoation.
How do we go about finding a buyer who would be happy to pay capitalzied value at say approx 7% return.
Do realestate agents handle this kind of deal?
Any help would be much appreciated.
Hi Again
I too am interested in selling a student acc, in Adelaide, got some agents to look at it and they had a house value and a commercial value, there must be a value on, council approval, all furnishings and the business. The problem lay with "normal" agents being able to market the property right, if you can find the right type of agent they will sign the place up and market it for you.
Also with a commercial value is the problem of lending as the main componet with be a normal house value and the "business" value.
My place was valued at 525k with a mthy rental return of 4,766All the best
Barry
There are many commercial real estate agents in the phone book, they specialise in properties which are for commercial or retail or industrial investors. That is, avoid your local rea and go to the legit commercial property brokers.
Thanks Barry & Scott for the information.
We too had a "normal" real estate agent look at the place and he also suggested a price for the house and small value for getting the council approval.
Seems better to find a commercial real estate agent and check out their views.
Thanks once again.
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