Case Study - Commercial Property
6,000 sqft strip mall with 40% vacancy - sold for $620,000 cash in 21 days after 14 months on market.
Carlos owned a 6,000 square foot strip mall on a busy commercial corridor in Miami-Dade County. The property had five retail units. At one point, all five were occupied and generating $8,500 per month in gross rental income. Over time, three tenants left and Carlos struggled to fill the vacancies.
The building was constructed in 1985. The flat roof had been patched multiple times but needed full replacement. The parking lot was cracked and not ADA compliant. Two of the vacant units needed significant buildout before new tenants could move in. The property's NOI had dropped to $3,200 per month from the two remaining tenants.
Carlos listed the property with a commercial broker for $795,000. After 14 months, he had received zero offers. Commercial buyers use cap rate analysis, and the property's depleted income made the asking price impossible to justify. The broker recommended dropping to $650,000, but even at that price, the deferred maintenance scared off institutional buyers who prefer turnkey assets.
Carlos was 71 years old and tired of managing the property. He was spending $2,000 per month on maintenance, insurance, and property taxes beyond what the rental income covered. The ADA compliance issues exposed him to potential liability. He needed to exit the investment but had no viable path through traditional commercial real estate channels.
We evaluated the property based on its land value, location potential, and existing rental income. The commercial corridor was showing strong growth indicators with new development nearby. We assessed the property at its current state - not what it could be after $150,000 in renovations.
We presented Carlos with a cash offer of $620,000. The offer reflected the property's current income, the cost of roof replacement, parking lot resurfacing, ADA compliance, and tenant buildout for the vacant units. We provided a detailed breakdown so Carlos could see the logic behind the number.
Because commercial transactions require more due diligence, we allowed a 21-day closing timeline. Our team handled environmental phase one, title search, and lease review. Carlos signed once and walked away.
Carlos used the proceeds to fund his retirement. He eliminated the monthly cash drain, the management headaches, and the liability exposure. The sale was structured to maximize his tax position with a 1031 exchange consultation we facilitated at no charge.
"I spent 14 months with a commercial broker and got nothing. OneCashOffer made a fair offer, closed in three weeks, and I finally retired in peace." - Carlos