January 8, 2020

Know Your Market.

Frank knows a good deal when he sees one, and that was the case when the Bread Basket Deli building in Livonia hit the market. What seemed to many as an average investment was seen much differently by Frank and ultimately by his investor client.

The Reasons Why:

  • The Tenant has been in the same location for over 20 years
  • The building was completely rebuilt 10 years ago
  • Average rents in the area have been on the incline
  • Average sale prices for commercial property in the area have increased year over year
  • Current developments are underway nearby with more projects planned

This market information was a key factor in the decision-making process of the buyer, far beyond the cap rate and the price. Frank was able to convey to his client the underlying value of the deal and the benefits of the location that only an area specialist with intimate market knowledge could.

As a broker, knowing a good deal when you see one is a good thing; but knowing your market is even better. If you’re looking to uncover opportunities in a competitive market, call Frank Rakipi at 248-476-8876.

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