Tommy Dobczyk analyzes a CREXi land listing priced at $1M per acre, showing how to spot undervalued deals by comparing nearby properties and calculating value per square foot. He walks through the math: 1.6 acres times 43,560 sq ft per acre, then multiplied by $45/sq ft to estimate total worth.
Chapters
We're going, we're going to go diving for dollars. This is diving for dollars right now, people. So we've got, when we go to CREXi, because CREXi is not set up, established yet to be really good at going straight into what, what it, you know, offered, it's going to dump us right here. So we know that the property identified was a 9.8. If you want to scroll through this slowly, I want to kind of point some things out. Look at the prices of these things when we're looking at them. So at 1.6, acres, it's $1.8 million. So in your brain, you can understand right there that that property comes out to about $1 million an acre, right? You can see. So now when you look at all the rest of the property, when it says something like 1.5 for $1 million, you got a deal, maybe. And it's Opportunity Zone. And it's Opportunity Zone. So 43rd Avenue, not a bad spot. A lot of stuff going on. They got the— I'm biased. It's free. It's unpriced. Yeah. When there's no price, it's free. So Sky Harbor, they've got an industrial corridor there. We've got the, this piece of property looks like it's next to some multifamily, but also next to— so this is what they call a buffer lot. Buffer lot. It's over an acre, just over an acre. You see where it went to $1.25 per acre now, right? So $45 a square foot here for 3.75. Anybody know how to do the math real quick on square footage of an acre? 4, 3, 5, 6, 0. 0. All the numbers are together except the last, right? So 4, 3, 5, 6, 0. And you got 5 numbers to remember, but the easiest way to remember it is that the numbers 3, 4, 5, and 6 are all in there, just different order. So 4, 3, 5, 6, 0, right? And if I do 4, 3, 5, 6, 0 times 3, that's over 120,000 square feet times 45. Does anybody want to do the math real quick?
