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)|
|Days on Market||28||523||233||227||–|