Real Estate

Commercial real estate

  • Last Updated:
  • Feb 19th, 2019 9:03 pm
[OP]
Newbie
Aug 27, 2008
33 posts
Toronto

Commercial real estate

I am looking sell a commercial real estate. I appreciate if you can recommend a good agent (PM me) and also is there a website where I can see sold prices on commercial real estates? I have looked, but came up empty.

Thanks.
12 replies
Deal Addict
Dec 18, 2006
1945 posts
350 upvotes
Markham
MakeMeYou wrote:
Feb 14th, 2019 9:27 am
I am looking sell a commercial real estate. I appreciate if you can recommend a good agent (PM me) and also is there a website where I can see sold prices on commercial real estates? I have looked, but came up empty.

Thanks.
What type of commercial real estate? Please PM me details and I'll see if I can help, or at least, point you in the right direction.

Thanks!
Jay Rana, Sales Representative
CENTURY 21 Titans Realty Inc. Brokerage
@RE4L.ca - Real Estate 4 Less
*Cash Back For Referrals & Purchases (conditions apply)*
Deal Fanatic
User avatar
Feb 2, 2014
5974 posts
1336 upvotes
Toronto
MakeMeYou wrote:
Feb 14th, 2019 9:27 am
I am looking sell a commercial real estate. I appreciate if you can recommend a good agent (PM me) and also is there a website where I can see sold prices on commercial real estates? I have looked, but came up empty.

Thanks.
As mentioned above, you might want to be more specific on the property type...commercial real estate is a broad term. I personally used to work in retail real estate development and management...saying commercial would isn't specific enough.
Kevin Somnauth, CFA
Mortgage Broker - Mortgage Architects (#10287) and Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
[OP]
Newbie
Aug 27, 2008
33 posts
Toronto
I am looking sell a small motel (about 35 rooms).

Thanks.
Newbie
Aug 7, 2003
41 posts
6 upvotes
Anyway to check sales history without being a member of treb?
Deal Addict
Mar 27, 2004
2941 posts
428 upvotes
Toronto
Probably best to call up a commercial realtor. CBRE?
Cash rebate Realtor

Homelife Bayview

President Award 2018
Newbie
Jul 2, 2018
76 posts
45 upvotes
GTA
MakeMeYou wrote:
Feb 15th, 2019 9:35 pm
I am looking sell a small motel (about 35 rooms).

Thanks.
...
Last edited by RealtorInvestor on Feb 22nd, 2019 12:33 am, edited 1 time in total.
Real Estate Sales Representative
Deal Addict
May 12, 2014
1676 posts
1091 upvotes
Montreal
What is the commission % in commercial real estate?
Jr. Member
Jul 26, 2015
189 posts
105 upvotes
Vancouver, BC
FrancisBacon wrote:
Feb 16th, 2019 9:35 pm
What is the commission % in commercial real estate?
Normally 3% to be paid by the Seller if it’s in GVR.
However GVR is quite different from Toronto. Our residential commissions are also much lower. The regular one is 7% on 1st 100k and 2.5% on balance, to be paid by the Seller and shared with the buyer’s realtor if applicable.
[OP]
Newbie
Aug 27, 2008
33 posts
Toronto
My lawyer said that I should hire commercial property appraiser to assess fair market value of the property. Do you agree? and how much should I expect for the appraisal service?
Deal Fanatic
Jul 3, 2011
5094 posts
2259 upvotes
Thornhill
Well it depends entirely on what you are selling and the size.

Is it:

a mall?
commercial space only?
attached to residential?
store front commercial space?
large or small commercial space?
a business?
type of business, age and revenues?
industrial?
is it subject to environmental laws?

MakeMeYou wrote:
Feb 14th, 2019 9:27 am
I am looking sell a commercial real estate. I appreciate if you can recommend a good agent (PM me) and also is there a website where I can see sold prices on commercial real estates? I have looked, but came up empty.

Thanks.
MakeMeYou wrote:
Feb 19th, 2019 8:07 pm
My lawyer said that I should hire commercial property appraiser to assess fair market value of the property. Do you agree? and how much should I expect for the appraisal service?
[OP]
Newbie
Aug 27, 2008
33 posts
Toronto
licenced wrote:
Feb 19th, 2019 8:43 pm
Well it depends entirely on what you are selling and the size.

Is it:

a mall? No
commercial space only? Yes
attached to residential? No
store front commercial space? No
large or small commercial space? small
a business? Yes
type of business, age and revenues? Motel, 45 years old, $200K / year
industrial? No
is it subject to environmental laws? No
Deal Fanatic
Jul 3, 2011
5094 posts
2259 upvotes
Thornhill
MakeMeYou wrote:
Feb 19th, 2019 8:49 pm

a mall? No
commercial space only? Yes
attached to residential? No
store front commercial space? No
large or small commercial space? small
a business? Yes
type of business, age and revenues? Motel, 45 years old, $200K / year
industrial? No
Then a business appraiser is good advice as it appears you are selling the assets under the Bulk Sales Act. If real estate is involved as it appears to bem then an appraisal for the property is also warranted and a good business appraiser will understand how to value depreciated property - presuming this applies.
is it subject to environmental laws? No
Are you certain? that would depend entirely on your surroundings.

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