09/01/2025
My first commercial sale closed last week!
Back in February I was craving Philly cheese steak and so I walked into Mr. Santana on University on the Marcy-Holmes neighborhood of Minneapolis. The building is an old storefront with apartments above and a convenient store below. I started telling the man behind the counter that I specialize in historic buildings. I told him how these places can be bought and if they're on the NRHP, or even locally historically designated, that historic grants and tax credits can be used to restore them. I then asked him if he wanted to open more locations. In which he replied, yes I do.
I told him about an old Italian grocery store in my neighborhood that hadn't been open for about 12 years. It was known as Schullo's. I talked to Mr. Schullo and asked him if he'd be wlling to sell the grocery store. He said yes as well as the duplex nextdoor.
Both properties needed a decent amount of work. Mr. Santana was looking for something a little more turnkey and said his business partner might be interested in it. Interested he was.
The commercial process is much longer than residential real estate as there's more moving parts involved. The process took 5-7 months from the initial conversation with Mr. Schullo to closing.
It was a great thing to be a part of, especially since it was in my own neighborhood. There was talk of getting a developer in there but developers give much less than market value. This marks the first commercial property that I've helped save. 😊
If you or someone you know is looking for a commercial property, historic or not, please reach out to me at 612-532-1210, [email protected].