I just realized I was pricing my industrial space in Phoenix all wrong

For years I just looked at square foot rates from other listings in the area. My broker finally pointed out that my building's 24-foot clear height and new electrical service should add at least $2.50 per square foot to the asking price. I was leaving a ton of money on the table by not factoring in those specific features. Has anyone else had a wake-up call about under-valuing a property's assets?

3 comments

3 Comments

the_john4mo ago

Happens everywhere. People price their old car based on mileage alone, forgetting the new transmission. They sell a house and just compare bedrooms, not the new roof. We get stuck on the basic metric and miss what actually makes the thing valuable.

cameron3182mo ago

Yeah man, "we get stuck on the basic metric" hits hard. I was selling my old truck last year and everyone just wanted to know the miles, but I had put a brand new engine in it like 10k ago. I ended up just putting the miles before the swap in the ad and explaining it, and the guy who bought it actually got the deal of a lifetime because nobody else would even look at it. Sometimes you gotta reframe how you present the thing so people actually see what matters.

aaron_flores844mo ago

Totally get what you mean about getting stuck on the basic metric. I see this all the time with used guitars. Someone will just look at the year and model and ignore that it's been completely set up with perfect action and new pickups. They focus on the name on the headstock and miss the actual playability, which is the whole point. It drives me nuts because the good stuff is in the details.