6800 W. 38th Ave. Wheatridge, CO 80033
Buyer: 6800 W. 38th Partners, LLC.
Quality Auto Care of Wheatridge recently approached us to sell their property. Almost immediately, several problems became glaringly apparent:
The neighborhood is priced slightly higher than surrounding areas. This property is located on a hard corner in North Denver’s emerging 38th corridor in Wheatridge in an area that is slightly ahead of the curve for neighborhood growth.
The Seller wanted to restrict property usage. The owner of Quality Auto moved his business directly across the street and wanted to eliminate any chance of competition. As such, they asked to sell it to a Buyer with a deed restriction in place that would prevent them from using the property for automotive repair.
Future land use could be limited. The property had an access easement running across its Western boundary that many considered a hindrance due to the limitations it causes for potential future use.
We knew that selling this property would require absolute honesty and transparency with any potential buyers.
Due to the quickly discovered complexities of the site and the deed restriction, we decided to deploy heavy guerrilla marketing tactics with surrounding business owners and developers.
We disclosed all restrictions placed on the property upfront to every Buyer we spoke with. In addition, we met with Wheatridge City officials to make sure there was a path to properly navigate any issues that might come up in the future.
Ultimately, we contracted on the property four times with three different buyers (one contracted twice) before finding the right fit.
We studied surrounding demographics and targeted our marketing efforts to the ideal Buyer who would be the most likely to close at the fairest price and terms for our Seller.
Due to our transparency with the property’s restrictions, we saved time for our client and finally contracted with a Buyer who closed at a price and terms that were fair for all parties involved.
It took some time, but we successfully navigated the process until we identified the correct Buyer, passing over many offers that weren’t considered fair to our client even though they would have been the quickest path to a closing.
Mike is very transparent, responsive, and insightful. He has a better idea of the market than I could’ve even imagined. When I needed him to respond quickly, he did, which made me feel very comfortable working with him.