A mixed-use property is a type of commercial property that includes more than one type of property function. This could be a blend office and retail, or even a mix of residential and office components. The functional combinations for mixed-use properties are virtually limitless.
Mixed Use Properties for Sale vs. Off Market
When deciding how best to source mixed-use opportunities, you have the option to search for mixed-use properties and land that has been listed, or to search for target mixed-use properties on your own. Mixed use property buyers, whether individuals or developers, are looking for the right location and an opportunity that lets them customize to fit their needs. Below we cover how to search listed and unlisted mixed-use properties and how to best leverage commercial real estate data and listings platforms to find your next deal.
Mixed use property for Sale
Most people in the market for a mixed-use property would head to a listing platform to search for properties listed near them and to compare pricing of types of mixed-use properties they are looking for in their area.
There are plenty of real estate listing platforms out there, but not all of them list every mixed-use property on the market. It can be hard to find the appropriate listing platform for your needs since the classification of mixed-use properties isn’t consistent across the board. Deciding which platforms to search and post on can end up taking a lot of time – and cost more money than you likely planned for. For more information on relevant listings platforms, read our guide.
Off-Market Mixed Use Properties
While you may be used to searching for new properties on a listings platform, there are major benefits to sourcing a property off-market. If off-market deal making sounds complicated and time-consuming, there are now tools like Reonomy that can help you find mixed-use properties to invest in. You no longer have to spend valuable time taking trips to your local county recorder, clerk or assessor’s office to perform a property search. You can now search any commercial property record nationwide with speed and ease.
One benefit of off-market deal-making is that you are likely the first person to reach out to the property owner. If the owner has not listed the property, they are likely not actively looking to sell. However, this does not mean that the owner wouldn’t be open to the idea of a sale. There are certain trigger signs that you can look for in any property owner to potentially approach.
Another benefit to searching for off-market mixed use properties is skipping the broker fees. This kind of direct purchase can allow you to offer more money, directly to the owner of the property or to skip fees that are usually incurred when listing a property.
When looking for off-market properties you have more flexibility. You have the option to look at every property in the area of interest, rather than limiting your search to specific properties that are currently listed for sale.
This flexibility can be a big benefit, based on the kind of deal you are looking to create. By using a tool like Reonomy to source your deal, you have the opportunity to contact a mixed use property owner directly. Don’t look through multiple platforms and flip through listings to find one that fits your target criteria. Instead, you can filter your target criteria, select an area of search and export contact information for owners of mixed use to contact. This allows flexibility to approach any owner and a higher likelihood of success in isolating and later targeting a property that is desirable.
With Reonomy, easily navigate the database to find information that you need most. Other than filtering for property type, you can search by past sales detail, debt information, geography and more.
Mixed Use Property Owner Search
How to Use Reonomy to Find Ownership Information
When prospecting for mixed use properties to invest in, making contact with the owner can help you complete a deal in less time. Search any mixed use property in the US and uncover the property owner. Go beyond the reported owning entity, find the person behind the LLC. For a search, uncover the property owner name, mailing address, phone number and email.
Make contact with owners with speed and ease. Understand the owner you are contacting by viewing their ownership portfolio within the Reonomy platform. Explore their entire portfolio, see how many and what types of properties they own. This allows you to dig deeper into the history and details of other land and property they own to help understand each property down to building level detail, and how best to approach an owner with a deal opportunity.
Ownership records help when attempting to understand the current owner’s motivation and intent for the property. An ownership search will show how long the owner has been associated with the property through date of last sale, as well as the price of the last sale.
The longer an owner has owned a property, the more likely they are to sell. When holding onto an asset for a longer period of time, the property likely has reduced debt. Use the price of last sale filter and current market values to uncover the property value. If an owner has had a property for a short period of time they might also be a good target – depending on their typical buying patterns which can be uncovered with a portfolio search. Understanding the intent of the owner is invaluable when making contact. It allows you to tailor your pitch and approach, and it allows you to find the scenario that both meets the needs of the potential seller as well as your own.
Filter Mixed Use Property Searches
Parcel searches can be performed by looking up a particular parcel ID or searching interactively on the map. Within the map, parcels with mixed-use properties can be identified and clicked through. A parcel search is traditionally performed by individuals that don’t have an exact property in mind, and instead are looking for mixed use properties in a particular area. You can easily filter by lot size, building area, number of units and more.
Search by Sales History and Debt History
Search mixed-use properties by filtering for specific sales and debt criteria. Find mixed use properties with price and date of last sale. Or, look for properties coming to term on loans by looking at debt criteria. They will either be looking to refinance or sell.
Search by Geography
Search for target vacant land opportunities based on the geography of your focus. Use the geographic search most relevant to your objectives, including filtering by street address, zip code, county, city and state. Alternatively, scroll through the interactive map areas that are within your focus. Click on parcels to uncover mixed-use opportunities.
Filter based on type of Mixed-use properties
Reonomy offers the ability to search by asset class. This can range from searching for all mixed-use properties to industrial mixed use, office mixed use, store and office, retail and apartment, and more. This can be helpful in further isolating property types you are looking for.
Mixed-Use property owner list
As you have identified any number of mixed-use properties that fit your search criteria, you can label and sort them based on location or owner or anything that works for you. Export and create lead lists that are relevant and specific to you. One of the benefits of creating your own lead list limited to your specific area of interest and property type, size and price requirements is not only to reach out to fewer owners to find your next deal but also to provide personalization in your messaging. Based on the owner portfolio or land of choice, you are directly calling, emailing or mailing the decision maker of the mixed-use property you are interested in.
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