Jason Glater, Jerod Mund, and I continued our search to find an ideal property. We stumbled on a restaurant and former tire shop owned and listed by Mr. Buddy Baker on Hemphill. The building and the neighborhood behind were deemed historic. The tire shop was well equipped with 4 garage bays and also a fenced area with grass and a few trees. There were more than enough parking spaces and it was only about five minutes from downtown. The ceilings had a tin finish and the floors consisted of a smooth surface. The historic designation concerned us a little bit due to the strict reputation the Fairmont Historic District has earned over the years. With no need to own the restaurant I called up Buddy Baker and left a message asking him would he be willing to sale or lease the tire shop separately.
If he would agree to lease the property we would want to do it for the bare minimum for an extended period of time say 10-20 years make renovations and in essence sub lease the property to earn a substantial return on investment over time. Jerod Mund is a commercial real estate broker with Sperry Van Ness and he made an interesting point. Jerod stated that commercial real estate brokers do not put a lot of weight on the calls the get on properties during the weekends. He stated that these calls tend to be from people who just happened to see the property on the weekend driving by. Mund also said that out of the calls he received throughout his years as a broker no weekend inquiries were ever closed.
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