COMMERCIAL REAL ESTATE

8809 East Washington St.

Mitch Doner, Commercial Real Estate Broker and Vice President, Director of Asset Resolutions at Bradley Company Indianapolis office
Vice President & Director of Asset Resolutions
Services Provided
Seller Representation
Statistics
± 5,292 SF on ± 1.97 AC
Client
Private Commercial Real Estate Property Owners

Client
Case Study

8809 East Washington St.

Indianapolis, IN 46219

Background

Mitch was engaged by a pair of property owners to assist them in arranging the sale of a property that they had owned for over 39 years. The owners were prepared to downsize and relocate, but were unsure of the best and most efficient way to do so, as their property was one mixed-use in nature and also desired to time the sale of their property with the acquisition of another.

Strategy

The property owners employed Mitch to organize and compose marketing materials, then facilitate efforts to procure a prospective buyer for the property that may have a use for it in its current state or have motivation to redevelop the site, as it is commercially-zoned. The task at hand was to discover or create a market need in the near-immediate vicinity for a flexible residential/commercial offering or a redevelopment opportunity for a user in need of a narrow, but deep, site. The subject property was only (94) feet wide, but it was nearly (1,000) feet deep. Additionally, the subject property connected directly to the Pennsy Trail.

Results

After the offering was on the market for nearly (21) months, Mitch was able to procure a prospective buyer that was in the market for a flexible work-from-home offering as well as an offering that included excess development ground so that they may appropriately plan for future growth. In the beginning, the buyer was considering redeveloping the entire site, but in the end, decided that they would utilize the existing residential/commercial structure. After the property was placed under contract, Mitch assisted the property owners with facilitating the closing of the transaction via a thorough and meticulous, yet efficient due diligence process in 2.5 months after execution of the purchase contract. After the closing occurred, the property owners were able to repurpose the funds from the sale of their long-time home and place of business in to a new location for their family.

“Mitch has really helped us and kept us informed about the sale of our unusual property. It has been our home and office/work location for over (39) years. We have tried to sell over several years with other REALTORS® and Mitch is the first REALTOR® who really listened and pursued options for purchasers. He stayed in touch and communicated with us regularly. He has even helped us with questions as we pursued our search for a [new primary residence]. We really appreciate all you have done for us with this difficult property!”
– Charlie & Karen P.
Clients

STRATEGY

RESULTS

After the offering was on the market for nearly (21) months, Mitch was able to procure a prospective buyer that was in the market for a flexible work-from-home offering as well as an offering that included excess development ground so that they may appropriately plan for future growth. In the beginning, the buyer was considering redeveloping the entire site, but in the end, decided that they would utilize the existing residential/commercial structure. After the property was placed under contract, Mitch assisted the property owners with facilitating the closing of the transaction via a thorough and meticulous, yet efficient due diligence process in 2.5 months after execution of the purchase contract. After the closing occurred, the property owners were able to repurpose the funds from the sale of their long-time home and place of business in to a new location for their family.

"Mitch has really helped us and kept us informed about the sale of our unusual property. It has been our home and office/work location for over (39) years. We have tried to sell over several years with other REALTORS® and Mitch is the first REALTOR® who really listened and pursued options for purchasers. He stayed in touch and communicated with us regularly. He has even helped us with questions as we pursued our search for a [new primary residence]. We really appreciate all you have done for us with this difficult property!"
- Charlie & Karen P.
Clients

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