The Situation
For Paula, 61 Patterson Drive was more than a commercial property. The 4,940 SF industrial building had been home to the HVAC business her husband started more than 20 years ago.
After her husband passed away 15 years ago, Paula inherited the property, while the business continued under the management of her son-in-law.
When her son-in-law decided it was time to sell the business, Paula suddenly had an important question to answer:
What should she do with the building?
The Context
Paula was comfortable buying and selling residential real estate, but commercial real estate was unfamiliar territory.
The sale of the HVAC business created uncertainty around whether the property would remain occupied, whether the new business owner would stay, and when vacant possession might be available.
Having been referred independently by both her son-in-law and her residential Realtor, Paula felt confident reaching out to Stephanie Maye of Maven Commercial Real Estate for guidance.
The Challenge
While Stephanie quickly recognized that the property had strong appeal to service-commercial and light-industrial owner-users, at the same time, there were several factors that needed to be carefully considered.
The building had an unusual triangular configuration, needed capital improvements, and the timing of vacant possession was still uncertain.
Before recommending a price, Stephanie wanted to understand the needs of everyone involved, including Paula’s son-in-law and the potential impact of the business sale.
Once understood, Stephanie reviewed the market comparable sales, the property’s strengths and limitations, and her company’s database to understand the depth of the market interested in such an investment. Stephanie recommended an asking price of:
$1,278,000
Paula’s immediate response was:
“That’s too high! I don’t want it to sit, I want it sold!”
Stephanie explained that the pricing had already accounted for the property’s unique challenges and was intentionally positioned to create buyer interest and competition.
The Action
Maven launched a comprehensive marketing campaign designed to reach both the broader market and the specific buyers most likely to value the property.
Within 4 days, the property generated 3 offers.
Paula selected a buyer, but the deal unexpectedly fell apart.
Rather than lose momentum, Maven brought the property back to market.
Once again, buyers responded.
The second round once again generated multiple offers, proving that the original interest had not been a one-time event.
The Result
The buyer firmed up quickly, although unexpected Financing issues with the Buyer’s lender delayed closing by approximately six weeks.
This time, the successful offer came in above the $1,278,000 asking price.
Despite the delay, the transaction successfully closed.
For Paula, what began as an unfamiliar and uncertain situation ended with a result that exceeded expectations.
For Stephanie and the Maven Commercial Real Estate team, the transaction was a reminder that a successful sale is not always a straight line.
Sometimes the real value of good brokerage is having the strategy, market knowledge, and persistence to keep a deal moving even when the road takes an unexpected turn.
Because a great result isn’t just about getting a property sold. It’s about giving the client confidence from the first conversation to the closing table.
