Adapting, Improving, and wiping off the light switch

470 Sunrise Highway, West Babylon NY

The Assignment
Selling a mixed-use property for Super USA

The Strategy

470 Sunrise Hwy was a straightforward “meat & potatoes” mixed-use property; and being valued at just under $1 million, I knew that it would have broad market appeal.  There were only two small problems which needed to be overcome:  a) 40% of the building was vacant, and b) The Covid 19 lockdown began within a few months of listing the property.

Solving the Covid problem was slightly above my paygrade, but I adapted as necessary to the “Covid Protocols” imposed by regulators and common sense to keep business moving. 

Solving the valuation issue regarding the vacant commercial space was more within my control, and Covid notwithstanding, I implemented my 2-step marketing plan:  Emphasize the leasing the of the vacant space before pushing hard on the sale.  I identified small changes to the MEP systems which provided for independent control and expense allocation, which would enable accurate reimbursements.  I was able to illustrate the cost-benefit outcome to the seller, who fortunately recognized the net benefit, and was willing to make the necessary investment.

The Results

Ultimately, leasing one of two remaining units created the perfect condition for an investor/end user to acquire the property, where they also opened a second insurance office; a win-win for both the buyer and seller alike!