Posted on

ROI Commercial Property Brokerage’s Restaurant Division Successfully Matches Restaurant With Best Location

In the world of food and entertainment, site selection is a skill that only a few commercial real estate brokerages have successfully mastered. The leading Commercial Property Brokerage ROI specializes in matching the right property for their client’s needs, through their new restaurant division the specialist Restaurant Real Estate team is helping restaurant operators in Central Florida search and identify the right location for their ventures.

ROI Commercial Property Brokerage Restaurant Division experts possess a unique yet in-depth knowledge of the local restaurant and real estate market combined with many years of experience and a large database of existing restaurants for sale and property owners willing to lease to restaurant concepts. With all these weapons in their arsenal, Restaurant Division Realtors are able to quickly and precisely identify and match restaurant operators to willing property owners.

“Our team of specialized restaurant advisers understands that restaurant site selection is a crucial yet difficult, time consuming process. Due to its many challenges to overcome and so many factors to consider, we believe that you will require professional expertise on your side to help you navigate through the process. We’ve been connecting restaurants to owners for decades and have a track record of matching restaurant concept to property owners, optimizing the opportunity for both operators and landlords to be successful.” – Eric Odum, President of ROI.

Restaurant business experts rank the location of a restaurant as one of the top factors crucial for the success of the venture. Many experts believe that the location is as important as the menu and the quality of food.  The ROI team is well versed with the important considerations that should be kept in mind when looking for the right property, which is the key to finding the ideal match. As a highly experienced and professional commercial and restaurant property brokerage, the team dedicated the time and effort to learn about the client’s restaurant concept to find a number of restaurant space for rent and sale choices that are right for the client and the concept.

About: ROI Restaurant Division is a Tampa, FL-based restaurant real estate firm focused on delivering value-added solutions to clients in the Greater Tampa Bay area and I-4 corridor. Their scope of service includes the sale and lease of restaurant properties, land acquisition and development, site selection and build-to-suit concepts, property management, and consulting services. For more information, please go to https://restaurantreal.estate/

Posted on

{Review} 4 RIVERS SMOKEHOUSE is SMOKIN’!!

Restaurant - 4 Rivers

The owners and crew at 4 Rivers have created a place where BBQ is king but this court is full of many different delights including a surprisingly impressive array of well-crafted desserts. 4R is on it’s way to becoming a south Tampa institution.

Your order is taken in a cafeteria-style line and served on metal trays lined with butcher paper. No frills, just good food. Rolls of paper towels are on the family style tables and you’re going to need them. The meat is the star with deep flavored long smoked Brisket, Pulled or Sliced Pork, Pulled Chicken, Smoked Turkey, Sausage and, of course, the prized Burnt Ends. They also serve up perfectly cooked Tri-Tip and Prime Rib. I highly recommend the sausage. It’s a juicy, leaner combination of beef and port – a real Texas-style link. All the meats are available as full dinners or as a stacked sandwich. Smoked Chicken and Ribs round out the menu.

4 Rivers TampaBeyond the carving stations 4 Rivers offers 18 sides so you’ll have no trouble doubling down on your appetite. While the Collards were under seasoned, there is a large array of sauces to spice things up. I love the house Hot BBQ sauce that is a perfect blend of sweet and heat. The Baked Cheese Grits are a shout out to corn pudding cut into squares of luxurious cheesy goodness. If you are adventurous try the Smoked Jalapenos or Fried Pickles.

There are also 5 offerings “From the Garden” including a Smoked Portobello sandwich and a substantial list of  “Lil’Bites” meals for the little ones.

There are grab-n-go drinks available as well as fountain drinks but if beer is your handle this is not your place as there is only small selection of bottled beer. Convenient call-ahead take out is available and there is a large covered patio for outdoor seating. While 4 Rivers is casual enough to be relaxing it is also well appointed enough to make dining there a real pleasure. Huge portions of carefully crafted smoked meats and sides, house made desserts, dressings and sauces will make you feel right at home in this smoke house kingdom.

More info is available at 4RSMOKEHOUSE.COM

Posted on

Common Mistakes You Should Avoid When Selling Your Restaurant

restaurants for rent, sale or lease in Tampa, Orlando, Bradenton, St Petersburg, Sarasota FL

It could be that you are selling your restaurant due to profitability and sustainability issues, or because you are venturing into other businesses or relocating to an entirely new place. Whatever your reason is, It is no doubt that you look forward to making a successful sale that gives you value for your property and effort.

While you may have been successful in the running of your business over the years, the process of selling your establishment is a different ball game altogether. It requires careful planning and preparation. You will also need the services of experts like attorneys, accountants, and restaurant real estate agents to help you speed up the transfer of ownership.
According to statistics, only 20 percent of businesses put on sale every year actually sell. If you are looking to sell off your restaurant, here are some common pitfalls you should avoid to ensure you do not fall into the 80 percent statistic of unsuccessful business sales.
1. Poor pricingThe pricing of your restaurant is one of the critical factors that will determine whether you will find a buyer quickly or not. However, most restaurant operators make the mistake of setting a price that does not reflect the real value of their business. The location and financial performance of your restaurant are key factors that determine the price you should sell your restaurant.

Poor pricing results from lack of valuation of the business and inadequate knowledge of market trends and pricing. It is therefore important to conduct a comprehensive assessment of your restaurant and have your financials in order and updated. This ensures that the price you choose is not too low, or too high compared to the value of your restaurant.

2. Selling to the wrong buyers

Finding the right buyer for your restaurant can be a daunting task. There are a lot of buyers and sellers in the restaurant real estate industry which makes competition tough and finding the right buyer for your property tougher.

Due to the difficulty of finding a buyer and doing a shoddy job in vetting prospects for their suitability, many restaurant operators make the mistake of selling to the wrong buyers who end up not offering value for their property. Poor negotiation skills also put you at risk of being cheated out of your restaurant’s proper worth — this especially common for those who do not seek the services of restaurant real estate brokers.

3. Failing to get involved in the marketing process

After deciding to sell your restaurant, you have found a real estate agent to help you in the process, and you think your work is officially done, right? Wrong! Most restaurant operators make the mistake of leaving everything in the hands of their restaurant real estate brokers.

As much as brokers are going to leverage on their expertise and networks in marketing your restaurant, you should also chip in. No one knows your restaurant and its selling points better other than you. It is prudent to consult your broker on the best way to market and advertise your restaurant that will not interfere with their activities. Getting involved instills confidence on prospective buyers and improves your chances of getting your restaurant off the market quickly.

Posted on

Things To Consider When Leasing Commercial Real Estate

commercial real estate leasing tips - things to remember when you lease commercial property

Commercial Real Estate Leasing Tips

A business can rent a commercial space from a commercial building owner by signing a rental agreement called commercial real estate lease. There are three main forms of commercial leases, namely full service, net, and modified gross leases.

It is important to understand how the entire process of identifying the right commercial lease works to avoid making costly mistakes. In this guide, we discuss the steps to follow and tips on how to choose, negotiate, and sign the right commercial lease.

Set your property parameters

With numerous commercial property options in the market, you need to set some commercial property parameters to help narrow down your search. In other words, the commercial space you are looking for should satisfy your business’s specific needs. Some of the important considerations you need to make when setting parameters include:

• Ideal customer: Businesses such as restaurants that are focused on attracting physical visitors should consider locations with high foot traffic. Also, you should know where your ideal customer is located. For example, while a Michelin Star restaurant will thrive in an affluent location, a fast-casual restaurant will do well in an area with people who have a preference for fast casual dining.

• Commercial property zoning: In the world of commercial real estate, zoning is done to dictate the type of business that can operate on a particular commercial property. Meaning, as a business owner, you cannot start a retail business in an area that is zoned for industrial use.

• Desired Size: You need to determine your workforce and the expected number of customers to derive the desired square footage. For instance, a restaurant requires 15 sq ft per customer, while offices may require up to 150 sq ft per employee.

• Maximum Budget: You have to determine your maximum monthly budget. With a predetermined budget, you can limit your searches to commercial spaces you can afford.

• Accessibility: It is important to ensure your restaurant or retail business is accessible, for you to do business. In fact, such businesses may need to have ample parking space.

Find the right broker

Leasing agents and tenant brokers facilitate most commercial real estate leases by representing landlords and tenants, respectively. Typically, the leasing agent is paid a commission of around 5% of the total lease by the landlord, while tenant brokers earn a percentage of the landlord’s overall commission called tenant broker’s fee. Remember, since the tenant benefits from the commission, he or she doesn’t have to work in the best interest of the tenant necessarily.

Although it is not mandatory to hire a tenant’s broker when searching for a commercial space, he or she can help you with a list of available options, give you potential financing options, and provide accurate marketing data and pricing.

Understand the types of commercial leases

• Full-Service Lease: The lease is commonly applied in leasing office space. This is an all-inclusive rent lease, which requires the landlord or property owner to pay for any expenses that may be associated with the commercial space including, utilities, repairs, maintenance, insurance, and taxes. The lease allows you to know and prepare for well your monthly or annual lease payments.
• Net Lease: This is an agreement where you pay a lower annual rent as compared to the actual lease amount of a full-service lease. However, the landlord may require you to pay the monthly “usual costs” of the commercial space such as property taxes and insurance. The net lease can be designed to be a single, double, or triple lease.
• Modified gross lease: This is a commercial lease that is considered as a compromise of the full service and net commercial leases. For instance, you may pay for the usual costs such as insurance and taxes, but in lump sum along with your rent. However, the landlord covers the cost of janitorial services and utilities.

It is possible to get caught up in a long-term commercial lease. ROI Commercial Property Brokerage is a leading provider of unmatchable commercial real estate services. We are focused on helping businesses scale their commercial spaces up or down depending on their current needs without the risk of facing penalties.

Our team of experienced restaurant property agents maintains close relationships in the Florida local markets, and thus a great source of valuable information. So, if you are looking for commercial real estate restaurants or help with negotiating favorable lease terms consider consulting with ROI Commercial Property Brokerage.