商铺购买

我们的讨论笔记 - 项目的可行性和风险

  • Downtown 的餐馆生意会很好。在外吃饭不仅仅是填饱肚子,更是人们的重要社交场合。人们是群居动物,湾区高收入但是孤单的程序员尤其喜欢在外吃饭。疫情及后疫情时期,在外用餐会继续增加。
  • Los Altos 华人数目日益增加,却没有一个中餐馆
  • 老一代华人移民办的中国餐馆,档次比较低,环境差。有的为了满足本地白人的口味,特色不突出。其实,华人无论本身人数的增长还是其对周围不同族裔生活的影响都越来越大。看看光顾Mountain View 小肥羊刷羊肉店的食客,足可见这个事实。
  • 通货膨胀导致资金流向土地和黄金 (保值)
  • Los Altos Downtown 规划升级1st street 地段,以及Walgreen所在地,未来4-6年将有许多多层建筑包括公寓和住宅商用综合建筑建成。这样年轻人口会增加,对饭馆的需求也会增加
  • 主动经营收入
  • 有事情做会开心
  • 餐馆是个社交的地方,汇集认识本地人
  • Andy 尤其感兴趣:骑自行车调查Mountain View 的餐馆
  • 传给孩子
  • 可以复制,开分店扩大规模

前期投入蛮大

  • 夏师傅
  • 阿毓师傅
  • 郝师傅夫妻
  • 江林会计师
  • 李律师
  • 房产经纪人刘嘉

 

Coco: 餐馆,+诱人的甜点橱窗

阿毓:前面大厅,可容纳15-20个4-6人的长方形桌子。 参考:QQ Noodle / 老外的超长桌,陌生人共享桌子。

化油管道:10万

人工: 主厨 – 5000 / 8000x 12 = 60,000 / 96,000

 

建筑面积:卖家信息 4550 平尺; 县里记录:3075

占地: 5000+/- (临街宽50尺, 纵深100尺)5227  县里记录: 5209

用地规划 Zoning: CRS COMMERCIAL RETAIL SALES DISTRICT

First American Title: APN:167-39-097 Zone: CRS Built: 1939
Type: Commercial / Retail Trade 
 
附件:
地址面积占地面积楼层出售日期价格单位面积价格生意注释
252 State3075
4550
5209一层 $5,250K   
261 Main1900
2700
2630一层 $3,500K   
         
351 Main St15002616一层03/2021$1,938K$1,292Vintage Bathfor lease
300 State St50005412一层2/2018$4,350K$870typewriter repair 
316 State St2500
4800
2614两层楼9/20$6,700K$1,396Steinway Piano & Bioz.com 

注释:面积中有两个数字时,第一个数字来自县里报税记录;第二个记录来自卖家。差别的原因是商业地产在界定边界内,业主后来加盖面积只需要城市规划与建筑审批,记录可能没有报道县里。 买家务必进行勘测核查并寻找加盖部分的建筑许可。

调查工作 (Due Diligence)

前期调查工作的重要性

Unlike residential home purchases that have certain consumer protection laws applicable to them, the purchase of commercial real estate has few protections and leaves a purchaser to examine, judge and decide for themselves whether a particular piece of property is suitable for their needs.

Since commercial real estate purchases are “as is” with little consumer protections, there will most likely be no recourse against a seller of commercial real estate for any defects that the purchaser could have discovered during due diligence investigations.

产权:产权保险调查报告 | 信托-Vesting1988L-99 MAP RECORDED252State APN map First American Title 过户公司的地产记录 | 

问题city planning: 面积差别的原因;右侧建筑的许可; Easement

Investigate and review local zoning ordinances, together with any prior zoning approvals affecting the property, in order to confirm that all of the purchaser’s intended uses are permitted in the particular zone.

For development: with the assistance of site engineers and planners, to determine whether the purchaser’s future development complies with all zoning requirements.

References:

land use and zoning 

  • Site Plan Approvals
  • Variances (Bulk and Use)
  • Subdivision Approvals
  • Grading Permits
  • Special Use Permits
  • Environmental Issues
  • Easement Disputes
  • Litigation
  • Retail
  • Zoning Permits
  • Challenges to Zoning Appeals
  • Housing Developments
  • Regional Shopping Centers
  • Setback Variances

After contract signing, a purchaser will typically arrange for structural, engineering, building, and mechanical inspections.

physical inspections of all structures and mechanical systems located on and servicing the property.

检查师: Environmental Professionals  将请city / health department 推荐

目的:环境污染问题 (土壤,水源)  contaminated – 贷款银行要求

Can give certain federal and state protections and defenses against claims for environmental liability.

To identify potential environmental risks to the property such as current or historic operations that are known or suspected to have used hazardous substances or petroleum products during onsite operations.  Some very common uses of concern are: dry cleaners, gas stations, auto/vehicle repair, printing operations, and manufacturing.  In addition to potential soil and groundwater contamination, ASTM E1527-13 addresses the concerns associated with contamination in soil vapor and the potential for vapor migration to pose a threat to onsite and offsite tenants.
 
While not part of ASTM requirements, Phase I ESA reports typically include a discussion of observed suspect asbestos containing materials (ACM), potential lead-based paint (LBP), and mold growth; as well as the potential for lead in drinking water and radon Sampling for these non-ASTM concerns is beyond the scope of a standard Phase I ESA, but can be included upon request.
 
贷款银行或机构会有自己特殊的规定: Small Business Association
 

环境调查包含的项目:

Health department:  (no live animal allowed), liquor, 
Fire department 
Open hours: no hours but noise is controlled by the police department
breakfast 8 AM, Most restaurants 11 am until 9 pm, some 10 PM. Billiards: 12 am, 
 
 
  1. OK 当地规则: Obtain a copy of the local and county regulations, codes and building restrictions for a restaurant in the geographic region of the retail store.
  2. 卫生局的规则:drains, water system,  and separate sinks for hand washing and food preparation, 
  3. 消防局的规则: exit doors, exhaust hoods, fire sprinklers and suppression systems. 

装修:

草图: Sketch a rough design of your restaurant layout on graph paper using the footprint of the retail store. Locate any current electrical outlets, natural gas bibs,water pipes and air vents. 

承包商: Foundation modifications may involve changes to or the removal of platforms and levels present in a retail store and adding walls for restrooms and kitchen facilities that meet building codes. Potential changes also include transforming the store frontage and the elimination of glass windows or alteration of the retail store front door for the new restaurant. Confirm that the present store water system meets the local restaurant requirements and enhance and update systems where necessary. Consult commercial appliance brochures to determine the electric and water requirements and match your restaurant design to the specification sheets.

 

 
  • tax bills
  • leases
  • service contracts
  • financial statements and reports
  • the title insurance policy
  • any surveys, building inspection reports, and environmental studies

A seller should also turn over for examination:

  • any site plans
  • architectural drawings
  • zoning documents
  • governmental permits
  • approvals and certifications
  • and disclose the existence of any property or building-related litigation

 

The purchaser must review and evaluate any existing leases or service contracts concerning the property.

As to any leases, the purchaser needs to determine whether the income generated from the leases will continue and for how long, whether there exists any tenant or landlord defaults, and whether the tenants have any renewal options or other rights affecting the purchaser’s future plans and rents for the property.

阅读审核所有的文件:产权,检查报告,合同

卖家信托的律师: Ferrari & Ferrari (Gerald Ferrari Inactive)

地产律师工作的领域

REAL ESTATE SERVICES

交易操作

  1. Items:
    • Current lease
    • Phase I Environment Assessment: if the Phase I assessment discloses areas of concern, the purchaser may be required to conduct follow-up invasive testing which can require the seller’s prior written consent.
    •  
  2. Period: 10-30-60 days (Phase I Environmental Assessment needs 30 days  ); zoning  and permits (entitlements) requires longer (up to years). Specify when seller must deliver their documents, and should not  start until the seller has completed delivery of the contract.
  3. the purchaser must negotiate the right to terminate the contract, at any time during the due diligence period upon written notice to the seller, if the purchaser determines, in his sole discretion, that the property is not suitable for the purchaser’s needs.

Remember: Almost all contracts will have numerous disclaimers which provide, among other things, that a seller makes no warranties or representations concerning the truth or accuracy of the information that she gives a purchaser, and that the property is being sold “as is” with all faults.

  • The seller will also include a prohibition on construction liens, and a requirement that the purchaser restore the property to its pre-inspection condition. Most likely, the seller will require that the purchaser obtain the seller’s consent to perform any invasive environmental testing, and will further require that the purchaser keep its environmental reports confidential.
  • Finally, a seller will often attempt to negotiate that the purchaser must turn over all of its due diligence materials, if the purchaser elects to terminate the transaction, with no reimbursement to the purchaser for any investigative costs. Often, this provision is the subject of negotiation between the parties.
  • Price
  • Deposit
  • 1031 exchange
  • Dates: Expiration Date, due diligence period, Closing 
  • 1031 Exchange Cooperation Clause: 

“Notwithstanding anything to the contrary, Seller hereby acknowledges that it is the intent of Buyer to effect an IRC §1031 tax deferred exchange, which will not delay the closing or cause additional expense to Seller. Buyer’s rights under this agreement may be assigned to Investment Property Exchange Services, Inc. (IPX1031), as Qualified Intermediary, for the purpose of completing such an exchange. Seller agrees to cooperate with Buyer and IPX1031 in a manner necessary to complete the exchange.”