Besides - Loopnet & Craigslist: Real Estate

Hello,

I was wondering if anyone knew any other websites besides LoopNet.com & Craigslist… where there is a huge listing for Restaurants/Retail places - For Sale & or For Lease??

Does anyone know some places or suggestions on getting a nice size listing in your area or even around the usa? Also has anyone ever had their Restaurant at a Mall Food Court? Whats your opinion on that. What is an “average” idea of what a non-ghetto mall charges for a Food Court spot?

I know we all live in different areas, and its vague. But maybe it will give me/us a general idea of costs & ideas!

Thanks!

I would just do a web search for your city and business brokers. I dont know if thats the new thing in Michigan or I just found it, but they are everywhere and hey only sell businesses. Its really interesting just to see whats out there. Also gives me an idea if the competition is selling their store or not. I would suggest everyone watch the local market to see whats going on. I think you will see some interesting stuff. Also Real Estate One has a pretty good website, you just have to sort through lots of empty buildings.

Thanks for the advice, Ill check that out… :slight_smile:

For others looking… I found another site pretty good… City Feet www.cityfeet.com

If anyone else is looking :slight_smile:

bizbuysell.com Do an advanced search using desired city’s name.

Malls charge you a ridiculous amount of rent. I pay $57/sf for rent, $55/sf CAM, $4/sf taxes, and $2/sf advertising = $118/sf per year. This is in an 800,000 square foot mall with 4 national anchor tenants.

Leasing space in a mall can also be very advantageous. You have thousands of potential customers walk by your store every day, you have a massive dining room but you don’t have to clean it (but you sure pay for it), customers can find you very easily, and holiday shopping is always busy. However, you must be capable of doing a HUGE volume to make up for the rent they charge you.

I wouldn’t open the first restaurant of a pizza concept in a mall. You need to have your system rock solid because there are between 6 and 10 other restaurant options your customers go to if they are unhappy, get bad food, bad service, or have to wait.

Your best bet is to talk to someone in the mall office and have them put you in touch with the leasing agent. The leasing agent will be able to give you a pretty accurate price.