Tommy Dobczyk analyzes a 25-acre industrial property listed at $1.5 million with owner financing. Comparable sales show prices ranging from $29 to $70 per acre. The verdict: pass at $2.1 million, but $1 million to $1.3 million is defensible if flood-zone concerns check out.
Are you a land shark doing deals?
Are you able to validate some of the information you see there? Like, for example, is it, is it truly 25 acres?
Yes.
Okay. And it looks like it says that sources show roughly 24 acres are light industrial commercial use and PUD zoning references are made somewhere. So that's pretty good. Like it's got, it's got a height. So here's the thing with that. That property is commercial industrial. And says it has 2 buildings totaling 3,900, 3,900 square feet. So on 25 acres, they said that sounds like they were very small buildings. Yeah. Okay, we'll roll through this a little bit. How much?
I think she's asking 1.5. I think I gotta go back and look. 1.5, 2 metal buildings, full utilities, gated entrance. They're open to owner financing. That's what I got. She just hit my inbox. It's It's basically not too far from, from me. I could just drive over there and I know the area. So that's why I was like, oh, that's interesting.
Well, okay, and let's use AI to validate some of that. Go ahead and keep scrolling through this a little bit. So the nearby market signal shows that there was a 7.01, so 7-acre industrial that went for $495, roughly $70 an acre. Another one that went for $290, which is $29 an acre. So there's a significant spread there, right? So it says to pass at 2.1 unless there's verified income. So how much did they say they What does it take?
Well, she's asking 1.5.
Okay. It says as an investor, buy. Pass at 2.1 unless there's verified income. As an owner/user, buy. Maybe, but only if interstate exposure and yard land utility solve a business problem. And then as a land banker development play, workable only if you can confirm zoning use and path. So LoopNet flags portions in the BX flood areas. So site planning matters. The Shark Verdict is no-go at 2.1 for a straight investment acquisition. A more defensible range looks at 1 to 1.3 with a stretch around 1.5, only if diligence confirms. So I'm not sure where it got the 2.1 except for maybe it's going off of the comp, right? I think that's where it's coming up with it. We could ask it. Go ahead and keep going down to the bottom there.
