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Showerthought: I saw a big change in my building's value after fixing the parking lot.
The asphalt in my small office plaza in Dayton was cracked and full of potholes for years. I got it fully repaved and re-striped this spring, which cost about $28,000. Within six months, two vacant units leased up, and a broker told me the curb appeal added roughly 10% to the property's market value. Has anyone else seen a good return from a basic fix like this?
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beth_stone20d ago
Guess we should all just pave our way to riches. (Honestly, I'm just jealous my landlord won't even fix the leaky faucet.)
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grayw3220d ago
Dayton's a tough market for small offices, right? Ten percent seems like a huge jump just from some new asphalt. Are you sure the broker wasn't just telling you what you wanted to hear? Maybe those units were going to lease up anyway as the economy shifted.
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