I rent my building to a repair shop. Can I sell it with the tenant still in it?
Yes. A building with a working repair tenant can be very appealing to the right buyer. The lease, the rent and how the tenant pays all shape what it's worth.
If this sounds like youYou don't run the shop. You own the building, the tenant pays, and you're ready to be done being a landlord.
What you can do.
Sell with the lease in place
The buyer takes over as landlord and the shop keeps going.
Sell to your tenant
Some tenants want to own. Ask before you list.
Sell to a buyer who runs shops
A buyer like Lotus may want both the building and, later, the business.
What to watch for.
- Read your lease for any right your tenant has to buy first.
- Have a clean rent history ready. It's the first thing a buyer asks for.
- Tell your tenant at the right time. Surprises hurt everyone.
Owner to owner, and it stays private.
Lotus buys auto buildings with shops in them. We respect the lease and the tenant, and we know the repair business from the inside.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Will my tenant have to leave?
Not usually. The lease carries over to the new owner.
Is a building with a shop tenant easier to sell?
Often, yes, if the rent is steady and the lease is clear.
Thinking about what comes next for your shop or building?
Tell James a little about it. Only James reads it, and the conversation stays private. No pressure, no broker and no mailing list.