Friday, May 30, 2008

New Thing #140--How Much?

One of the things that fascinates me is commercial real estate--why some businesses make it and some don't. There are several buildings on Manchester Road (a major thoroughfare in my neighborhood) that have been vacant for a VERY LONG time. Today I inquired about a commercial property that's for sale.

According to the Website of the real estate agency, the building (which used to be a bank) was listed at $2,900,000. However, the property Website listed the sales price as $1,100,000, and a flyer about the building that was linked to the site had a price of $990,000. Considering that the building's for sale sign has been up for at least two years, I can understand the price reductions.

I would think this building would be a great buy for someone. Since I really don't have a use for a bank, though, I think I'll pass. However, it's good to know where I can go for information in case my needs change for some reason.

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