Here is our quick “take ten” (minute) review of a “sell my commercial property” request on a salon building in MS this week. (One of about 150-300 we receive each month.)
Unfortunately, we have to pass on this opportunity.
However, there is opportunity for someone and here is where it lies:
– buy the business and real estate as it has been a salon for 24 years.
– area is projected to have 27% future job growth
– local person could convert to a nice house. See house on corner nearby (image below)
– could turn into a small income property. 95,000 ask price with a $791 per month net rent could be a 10% cap rate for someone.
If you have interest in this MS commercial property for sale, please contact us at 1-866-539-1777 and we can get you in touch with the owner/broker.
We are passing because:
– tucked in physical location blocked by neighboring building (see image below)
– location off of main drag
– 31.0% of the population are below the poverty line, including 43.7% of those under the age of 18 and 21.3% of those 65 and older.
– home prices are 45k to 75k nearby; owner is asking $95k on this deal. No noticeable upside for the extra price.
– Population in 2014: 12,703 (96% urban, 4% rural). Population change since 2000: -4.8% more
– crime index 409; US average 297
We are happy to review your property for free, call us or go here.