Commercial Property For Sale

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Clark County Land Sales 2017

As a Clark County and Nye County Nevada vacant land broker and appraiser I try to track what is going on in the market and submarkets.  The following graphic displays my best available historical and current data on southwest Las Vegas vacant land sales, I have displayed the sales by 4 zoning categories, but I keep the data for more categories including R-3 or 18 DUPA and R-4 or 24 DUPA.

What Happens to Leases When a Property is Sold?

Leases are contracts that encumber a property even after a real property is sold. So if you acquire an industrial building that is already leased and the lease allows five options to the tenant for 5 year for each option the tenant has rights to rent the building for at least 25 more years. So if you think you are going to purchase the building and eject the tenant you are in for a big disappointment. Why would an owner give a tenant renewal options that can continue to control the use of a property over a 25-year term? There are a number of motivations. Some tenants have to make significant tenant improvements. A dentist for example may want to make improvements that cost hundreds of thousands of dollars and they can't make them if their lease will expire after 3 to 5 years.

Using Custom Real Estate Contracts

Some commercial real estate (CRE) organizations in Las Vegas offer a commercial purchase agreement to their members but some individuals opt out of those forms in favor of their own custom forms.  Reasonably they want to control the outcome of purchasing issues that often destroy a real estate deal.  A couple of provisions that custom purchase agreements attempt to deal with that are now well address by standard forms include; escrow, contingencies, seller warranties, contract termination and others.

Who is Buying and Selling Real Property?

It's no secret that there are more and more Wall Street investors who have entered local real estate markets like ours in Las Vegas.  They are not only buying up huge blocks of residential homes, they are alos solidly in the commercial real estate (CRE) market.  It used to be that small investors were an importan block of buyers in both market segments, but things are changing.  Why?

How Important is a Property "For Sale" Sign?

Agents know that there are only a limited number of things that they can do to get a listed commercial property sold.  Of course, being able to personally contact parties who they know are interested in a certain kind of property is the most effective marketing method, it can produce immediate results, but often agents find that their list of personally know buyers is limited and when they reach the end of it they have to become more creative. 

Will the Echelon Project Sale Turnaround the Las Vegas Commercial Market?

While there is no doubt in my mind that the approval, sale and development of the Echelon property will go a long way toward bolstering the Las Vegas Strip image, it isn't a pancea, its not going to solve many of the problems still notable in our commercial real property markets.

Are Expenses Increasing for Commercial Properties?

It's common sense if you think about it, rental rates have decreased dramatically over the last several years in Las Vegas, Henderson and Clark County, Nevada in general and expenses have continued to creep up.  So even though they may not have increased substantially commercial building expenses now take up an even larger share of the gross income that is typically derived from a commercial building.

Does Brokerage Size Guarantee Results

It's easy to assume that a large real estate firm must be a good one, and that it will get you the best results, but being large doesn't always make a firm the best choice.  I'm not going to argue the fact that doing the right things generally makes real estate firms grow, but once they gain some prominence the individuals who built them with exceptional customer service are often long gone.  Depending on the size and quality of your listing, you are going to end up with either a great agent or a new, less experienced one.

The Problem with Unsolicited Offers

As a commercial broker and commercial real estate appraiser I often form value opinions (complete appraisal reports) for sellers considering unsolicited offers, for owners who are considering disposition of their property (often before they list it) and for buyers who have already acquired real property using an unsolicited offer.  I can tell you with complete honesty, I'm notlooking for your appraisal assignment, that some of the sales that I have reviewed over the years that were made without the benefit of an appraisal have heavily favored the unsolicited buyers.

What Makes a Good Commercial Real Estate Marketing Brochure?

If you want to evaluate how your listed property is being marketed you may want to take a look at the brochure that has been prepared.  If the agent says that there is no marketing brochure, I guess that would concern me as an owner.  You may want to ask, how are information requests being dealt with?  How do potential buyers and cooperating agents get the information you want conveyed to them?  Most firms do put together some type of brochure or flyer is there a difference?