SOLD: 3221 Anton St Mobile AL

Brett West of Merrill P. Thomas Co., Inc. represented a private investor in the purchase of 3221 Anton St, Mobile, for $300,000. The 4.5-acre property is slated for development into a warehouse for a national company that is relocating.

BRETT WEST

Agent 
brett@mptco.com
251-476-0808

#CommercialDevelopment #CommercialPropertyManagement #BrokerageServices #Investments #commercialpropertymobileal

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SOLD: 2657 Old Shell Rd Mobile AL

Merrill P. Thomas Co, Inc. represented the purchasers of 2657 Old Shell Rd for $155,000. The property, located in bustling Midtown, is on the corner of Old Shell Road and Mobile Street. It is located across the street from UMS- Wright Preparatory School. Originally built as a Phillips 66 gas station in 1950-1951 and operated as a gas station, Rainwater Radiator most recently occupied the building from 1996 to present.  The property will undergo extensive renovations and will be converted to an office building to be occupied by Sam Winter & Co. Real Estate to accommodate the company’s growth. On the move, Sam Winter stated that “this new location gives us the space we need to expand our company and to continue to provide a high level of customer service to our buyers and sellers.” Sam Winter & Co. Real Estate is known as a leader in the Mobile and Baldwin County residential real estate profession, and has been commended for their expertise, innovation, integrity, and community involvement.  Learn more about Sam Winter & Co. at www.samwinter.com, and to learn more about Merrill P. Thomas Co, Inc. at www.mptco.com.

PRATT THOMAS

Agent / Broker
pratt@mptco.com
251-476-0808

#CommercialDevelopment #CommercialPropertyManagement #BrokerageServices #Investments #commercialpropertymobileal

The post Sold: 2657 Old Shell Rd Mobile AL Commercial Property appeared first on Commercial Real Estate Mobile AL - Merrill P Thomas Co.

JUST SOLD: 181 Saraland Blvd Saraland AL Commercial Property

Excellent Location in Saraland!  John M. Delchamps, Merrill P Thomas Co., Inc was the listing agent for this 3.15 acre property located on busy Saraland Blvd.  The buyer will announce plans for this property in the near future.

JOHN M. DELCHAMPS

Agent / Broker
john@mptco.com
251-476-0808

#CommercialDevelopment #CommercialPropertyManagement #BrokerageServices #Investments #commercialpropertymobileal

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Investigate the experience of a firm by asking what other properties like yours (or your client’s) it manages, how long it has managed the properties, and what have been the results of its management.

Find out the type of investors with whom the property management firm usually deals. Does it manage for individual investors or does it specialize in working with institutional investors? The firm you are considering must have expertise in serving your type of investor as well as your type of property because the reporting requirements of each investor type will be different.

What Services to Expect When Hiring a Commercial Property Firm 
Property management firms can provide a broad array or a limited number of services, depending upon a client’s needs. Do not assume that a certain service is provided automatically by the firm. Ask what specific services it will provide and, once you or your client decides on a firm, work out a comprehensive written management agreement with the firm. The agreement will outline services the firm will provide, letting the owner know exactly what to expect from the property management firm and what the services will cost.

Commercial property management firms typically provide the following services.

Management Planning. A commercial management company can analyze the business environment and the specific property within that environment, set out a marketing strategy, and recommend how a client’s objectives can best be fulfilled.

Financial Reporting. Record keeping and financial reporting are key services provided by management firms. Ask to see samples of the firm’s reporting documents.

Budgeting. The management firm develops and monitors the property’s budget, which covers everything from maintenance to marketing, personnel to operations. As the year unfolds, the manager should inform the owner of any necessary budgetary adjustments and explain why they are needed.

Maintenance Programs. Commercial property management firms provide monthly maintenance cost monitoring and the development and implementation of preventative maintenance programs.

Market Rent Analysis. Management firms will provide an analysis of market rents and those of the competition, changes in area demographics, and anticipated absorption levels.

Marketing Programs. Firms can develop and implement marketing programs that improve the image of properties and ensure successful leasing. A comprehensive program may include such essential marketing tools as brochures, advertisements, special events, property newsletters, videos, maps, and site signs.

Rent Collection. The collection of rent, including a daily record of deposits, is a basic service provided by management firms. A cash management system, which includes investment returns on rental dollars collected, should also be implemented.

Lease Negotiation. A firm is usually responsible for negotiating all tenant leases and renewals, or, in the alternative, for recommending the best leasing company in the area and coordinating leasing activities with that company.

Tenant Relations. The professional property management firm is attentive to tenants’ needs and responds to their concerns immediately. It should have a written policy for receiving and resolving tenant concerns.

Purchasing Procedures. Firms establish procedures for the purchase of all equipment, supplies, contracted building services, and insurance coverage.

Conclusion

Remember that property management fees are directly proportional to the quality and quantity of services provided. Management fees generally are based upon a percentage of collections, though they vary in different parts of the country for different types of properties and are strictly negotiable between the parties. Percentage fees can be based on different portions-or all-of the income stream. For example, with shopping centers, the fees for basic services can be a percentage of net rent collections, gross rent collections including triple net expenses and advertising and marketing fees, a flat fee up to a certain level of income, and a percentage after that, or some other calculation. There can also be a percentage administrative fee applied only to triple nets, in addition to a basic percentage of net or gross income.

For additional questions about Commercial Property Management in Mobile, Alabama please contact us.

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