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A property manager in Des Moines told me to stop buying small retail spots, and I hate that he's right
Was touring a 2,400 sq ft strip center on Ingersoll Ave a couple weeks back when the guy managing it looked at my numbers and asked why I keep chasing $1,100 a month tenants instead of one $8,000 a month anchor. He pointed out that my vacancy eats 22% of gross on the little units, and suddenly every "safe" small deal I've done in the past year looked like a second job that pays worse than reffing. Is anyone else here actually making small multi-tenant retail work, or did you bail and go bigger too?
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ramirez.caleb24d ago
22% vacancy on Ingersoll Ave sounds rough but plenty of folks still make small retail work.
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