When our client intially decided to sell his auto garage he felt as though he had a very firm grasp on the property value because he had followed almost every transaction in the area for the past few years. The owner had recorded the prices per square foot of almost all of the area's similar transactions and was sure, based on the number of other deals, on the value of his asset. At the inital meeting, he was already convinced that he wanted to list with our team but wanted to hear our opinion as a formality.

​

While our client correctly applied one method of property valuation in assessing his asset, he did not consider all potential buyer types in his evaluation. Since his property sat within a few blocks of a metro station and was encumbered by a relatively short lease, MIP looked at the asset for both its value as a redevelopment parcel and as a leased investment. Ultimately, MIP was able to achieve a price $150,000 above the client's projected value and was also hired to sell a second asset for the client.

​

Back to Deal Stories