I have 10 acres zoned professional immediately off of a highway exit. How do I marketplace it? – Rating: 18

17 thoughts on “I have 10 acres zoned professional immediately off of a highway exit. How do I marketplace it? – Rating: 18”

  1. DO NOT DO IT YOURSELF! Ground up development is complicated. So buyers will be discerning when it comes to 10 acres. My suggestion is to keep interviewing brokers. If the premier broker in that market “underwhelms” you, it may be that the property isn’t what you think it is. I say that as respectfully as I can so I hope you do not take offense. If more brokers tell you the same thing, you may want to listen to them.

  2. Since it’s by a highway, Large signs work well. Costar and LinkedIn are great. Then, calling all the CRE and asking them if they know anyone interested. Cold calls. It works.

    Then, if you didn’t care to have the cash, you could maximize your return by telling CRE agents/investors that you’re willing to put the land value into a larger CRE development deal. They’ll run numbers and you would be an investor in a bigger deal.

  3. You shouldn’t do it yourself unless you understand development pro forma valuations and the details of the purchase and sale agreement terms, and have performed basic due diligence on the site such as zoning and yield calculations, environmental conditions checks, and title report and easement/encumbrance mapping.

  4. I have all kinds of questions. Ten acres is pretty big and could be developed for all kinds of uses depending on the location and whether it’s in a growth corridor. My knee jerk reaction is retail (lifestyle, factory) and maybe even a convenience store/fast food/gas station component idk…where in Massachusetts?

  5. Yea pay for a listing on costar or loopnet, I was paying like $250/month for a ‘gold’ listing last time I was selling something about a year ago. The gold makes it visible to non-paying people on loopnet/costar I even got buyers without brokers, which was nice.

  6. soil report, planning permits. CoStar and a huge sign is very effective.

    Have the appraisal done.

  7. Just some clarification on CoStar/Loopnet and what gets you what:

    1) everything in Loopnet is on CoStar regardless of the package you buy.

    2) Only Loopnet packages ‘Platinum’ & ‘Diamond’ will affect your listings placement on CoStar and LoopNet.

    3) the Gold package will only effect placement on loopnet. It will place your listing above the silver listings. You listing will be sorted on CoStar just as a Silver listing would be.

    4) the number one asset type searched on LoopNet is Land. Loopnet does a better job marketing and makes searching for land easier than CoStar does.

    Before you ask… Yes I was previously employed by The Company. 😉 But you can find out all of this from a fairly transparent sales person.

  8. Enlist the services of a competent CRE broker service. They would have valuable connections to potential buyers and be able to handle the other “unknowns” that come up. Of course, you can do anything your self but al things come w/ additional risk and costs. All the best!

  9. If you are serious about selling in a defined period of time, I suggest hiring a broker.

    I hate to say as a buyside investor… but a good broker is well worth their weight… Not only from a marketing standpoint, but also from a process standpoint once a buyer (or more) are found. If you are not in the real estate business, having someone who is in your camp will help.

    I would start by finding someone in your network with meaningful commercial real estate in MA. Ask them for introductions… follow these leads until you meet someone willing to work on this. Real estate is still a relationship business and brokers seem work harder for people they know*.

    *Instead of being a one-off, you become part of their “building of goodwill” within the network that brought them to you. By doing well by you, it may serve to bring them more business from others in that network.

  10. Long shot but we could have some interest depending on location etc. I’ll send you a DM.

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