So I've been retail location hunting for probably 6 months. I've got it narrowed down to 2 that I could sign on this week. They are vastly different but both seem viable?
The locations are for a fish only retail store as in aquarium fish.
Location one: Dog Mecca
This place has 6 Dog/Cat related businesses in the same shopping center:
1. Dog Groomer
2. Dog Groomer
3. Cat Groomer
4. Water therapy for Dogs
5. Doggie daycare
6. Doggie Diner
It also has 2 restaurants, 1 indian food restaurant and a american food restaurant. All the tenants are interdependent businesses. About 20 businesses in all here.
Specs:
910 sq ft
Asking Rent: $890 including NNN
1 year lease
Needs 1-1.5k in electrical work to do what I need it to do.
Always full parking lot. Averages 20 cars parking in the lot each hour.
Main draw is that there are already tons of pet people coming to this destination.
Location 2. Ghost Town. Other side of town.
This is a foreclosure property, that the landlord owns as of 2 weeks ago. No tenants are in there yet.
1150 Sqft
Asking Rent $600 including NNN
2 Months free rent.
3 Year lease with the option to renew at $750 for 3 more years. Also A clause that says I can walk away from the lease at any time.
Brand new tile floors.
All the electrical in the world
Car count 0. And could stay 0 for a couple years.
To take location 2, I'd have to be the marketing master as no one would accidently find me ever. Location 1, I would have passive customers find me. For $300 more a month. It also has much more to offer my customers than just my store.
Currently going in on Tuesday to negotiate Location one to see if I can get it down to $800 and 2 months free rent on a 2 year lease.
Anyone have any retail location advice?
The locations are for a fish only retail store as in aquarium fish.
Location one: Dog Mecca
This place has 6 Dog/Cat related businesses in the same shopping center:
1. Dog Groomer
2. Dog Groomer
3. Cat Groomer
4. Water therapy for Dogs
5. Doggie daycare
6. Doggie Diner
It also has 2 restaurants, 1 indian food restaurant and a american food restaurant. All the tenants are interdependent businesses. About 20 businesses in all here.
Specs:
910 sq ft
Asking Rent: $890 including NNN
1 year lease
Needs 1-1.5k in electrical work to do what I need it to do.
Always full parking lot. Averages 20 cars parking in the lot each hour.
Main draw is that there are already tons of pet people coming to this destination.
Location 2. Ghost Town. Other side of town.
This is a foreclosure property, that the landlord owns as of 2 weeks ago. No tenants are in there yet.
1150 Sqft
Asking Rent $600 including NNN
2 Months free rent.
3 Year lease with the option to renew at $750 for 3 more years. Also A clause that says I can walk away from the lease at any time.
Brand new tile floors.
All the electrical in the world
Car count 0. And could stay 0 for a couple years.
To take location 2, I'd have to be the marketing master as no one would accidently find me ever. Location 1, I would have passive customers find me. For $300 more a month. It also has much more to offer my customers than just my store.
Currently going in on Tuesday to negotiate Location one to see if I can get it down to $800 and 2 months free rent on a 2 year lease.
Anyone have any retail location advice?
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