Selling commercial property by owner means you sell it yourself, without hiring a broker to list it. The seller usually pays the broker a commission. That is why owners of warehouses, industrial outdoor storage (IOS) yards, and light-industrial buildings ask how to sell on their own. This guide explains your three choices, the steps of a sale by owner, and what to watch for.
Three Ways to Sell Commercial Property
List with a broker, sell it yourself, or sell directly to a buyer.
- List with a broker. The broker lists and markets the property, brings in buyers, and helps you negotiate.
- Sell it yourself. You do the broker’s work: pricing, marketing, showings, checking buyers, and negotiating.
- Sell directly to a buyer. Selling directly to a buyer means no listing agreement.
How to Sell Commercial Property by Owner, Step by Step
- Gather your paperwork. The deed, any leases and the rent roll, recent property tax bills, a survey, and any environmental reports you have. The rent roll is the list of tenants and what each one pays.
- Set your price. Look at what similar properties near you sold for and what the property earns in rent. A licensed commercial appraiser can give you a formal value. Price it too high and buyers stay away; price it too low and you leave money behind.
- Market the property. You can post commercial property on most commercial listing websites without a broker. Many let you post a basic listing for free and charge for extra features. Also tell people who might want it, like your tenants, your neighbors, and nearby businesses that need more room.
- Show it and answer questions. Buyers will want to see the building or yard, the leases, and the expense records.
- Check each buyer. Ask who signs the contract and how they will pay. Ask for proof that they have the money or the loan before you stop talking to other buyers.
- Agree on the terms. Many deals start with a short letter of intent (LOI) that lists the price and the main terms. Then both sides sign a purchase agreement. Have a real estate attorney write or review it.
- Get to closing. Before closing, the buyer checks the title, the leases, and the property, often with an environmental report called a Phase I. A title company or closing attorney handles the title search and the closing paperwork. At closing, you sign the deed and get paid.
What to Watch For When You Sell Without a Broker
- Your time. A sale by owner is a lot of work, and all of it falls on you.
- The price. Without recent sales to compare, it is easy to price too high or too low.
- Buyers who cannot close. A buyer without the money can tie up your property and cost you time.
- Surprises found late. An environmental issue or a problem lease found near the end often restarts the talks.
- Legal and tax questions. Ask your attorney what you have to tell a buyer about the property. Talk to your tax advisor before you sell.
Questions Owners Ask
Who pays closing costs when I sell by owner?
It depends on the property and the deal. The split is written into the purchase agreement, so you see it before you sign.
Can I sell by owner if my building has tenants?
Yes. Buyers will ask for copies of the leases and the rent roll. They often ask for a signed letter from each tenant that confirms the lease terms, called an estoppel certificate.
What is the easiest way to sell commercial property without a broker?
Sell it directly to a buyer. Selling directly to a buyer is faster than listing, because there is no marketing period and no waiting for a buyer to appear.
Sell Your Warehouse or Industrial Property Directly to Didenko Capital
Didenko Capital buys warehouses, industrial outdoor storage (IOS) yards, and light-industrial and flex buildings directly from owners in all states. We buy directly — you deal with us, not a broker. There is no commission to us and no fee to us. We buy as-is, so you do not have to make repairs or upgrades first. Asking for an offer is free, and you are not committed to anything unless you sign a purchase agreement.
Thinking about selling your warehouse, IOS yard, or industrial building? Tell us about your property and we’ll get back to you.