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How much money? How long?

From a seller’s perspective, the title of this post likely represents the two most pressing questions related to the sale of a commercial property. Of course, the answer, given so many variables, is a very definitive “it depends.”  And so it does, on the location, use, condition, and countless other factors that your commercial representation should discuss with you.

However, generally speaking, you will see from the chart below (taken from the Harrisonburg Rockingham Association of Realtors), the commercial property realizes a sales price of approximately 86% of the original list price in roughly seven and a half months. (Note: reported sales listed for comparison purposes were removed).

Commercial Sales Previous 12 Months (June 09-June 10)
Low High Average Median Total
List Price $20,000 $2,750,000 $525,859 $314,000 $11,568,900
Selling Price $10,000 $2,300,000 $454,250 $285,000 $9,993,500
Sold/List(%) 50.00% 100.00% 84.09% 85.65%
Days on Market 28 523 233 227
This begs the questions…what about my property or my town and how does this compare to previous years. The answer to these questions will be the topic of future posts in which individual communities, property types, and year-over-year comparisons will be detailed.
Of course, if you can’t wait or have suggestions for future posts, feel free to contact me ( or 540-271-7525). I look forward to hearing from you.