The Commercial TeamFor Families, Not Institutions

Specialists in commercial properties held by retiring owners, trustees, and executors. We handle the family-held and estate commercial assets that institutional firms overlook and pure business brokers treat as secondary. This includes owner-occupied buildings, land, industrial, retail, multi-family, and partial interests.

Request a Confidential ValuationSee the Transaction Record
$100M+Commercial Transactions
Family-HeldAnd Estate Commercial
1031Exchange Representation
Orange CountyAnd Southern California
Path 01

You are retiring and selling

A business, a building, or both. The first question is whether they go to market together or separately, and the answer changes what you walk away with.

Retiring owners →Path 02

You are settling an estate

An executor or trustee with commercial property or land in the estate. Commercial in an estate does not behave like a house in an estate.

Executors and trustees →
Path 01  ·  Retiring Owners

You are retiring and selling a business, a building, or both.

The first question is whether they go to market together or separately, and the answer changes what you walk away with.

Most owners assume the majority of the value sits in the real estate. It often does not. The operations, equipment, and goodwill built over many years are assets with their own buyers. Left out of the package, they transfer with the keys for nothing.

At an auto body shop in San Diego County, we took the property and the business to market as one complete package. Multiple buyers emerged, the final buyer was negotiated up by $200,000, and the all-cash deal closed in 30 days at $1,100,000.

Key considerations we evaluate with you:

  • What the real estate is worth on its own
  • What the operations, equipment, and goodwill add
  • Which buyer pool each package reaches
  • What a 1031 exchange would do to the tax outcome

We handle the real estate and coordinate with a business broker on the operating company when needed.

Auto repair shop in Santee, California sold with the business for $1,100,000
Auto repair shop in Indio, California sold out of a family trust for $935,000
Path 02  ·  Executors and Trustees

You are settling an estate that includes commercial property or land.

Commercial property in an estate does not behave like a house in an estate. A house is priced against comparable sales. A strip center, industrial unit, vacant lot, or owner-occupied building is priced on what it earns or what can be built on it, and the buyer pool is far smaller. Most agents who handle probate and trust work primarily handle houses.

We have sold:

We regularly handle:

  • Fractional and co-owned interests
  • Vacant land and redevelopment parcels
  • Owner-occupied buildings with a business inside
  • Coordination alongside the estate attorney and the fiduciary
Success Stories

Three commercial sales, told in full.

A trust holding land it could not sell, an owner retiring out of a business and its building, and an heir with an eight unit property. Three situations, three closings, each one written up from the first conversation to the final number.

705 W Fletcher Avenue, a vacant commercial lot in Orange, California, sold for $2,200,000Family trust705 W Fletcher AveOrange, CA  ·  Vacant lotOver two years on the market and still unsold. Repositioned for developers, it drew multiple offers and the family closed into a 1031 exchange.$2,200,000SoldR3Zoning2 yr+Previously unsoldRead the full story →8625 Cuyamaca Street, an auto body shop in Santee, California, sold with its business for $1,100,000Retirement8625 Cuyamaca StSantee, CA  ·  Auto body shopThe owner was convinced the value sat in the real estate. Marketed with the operations, equipment, and goodwill bundled in, the final buyer was negotiated up.$1,100,000Sold+$200,000Negotiated up30DaysRead the full story →1448 Stearns Drive, an inherited eight unit multifamily building in Los Angeles, sold for $1,800,000Inherited1448 Stearns DriveLos Angeles, CA  ·  8 unit multifamilyFor two months every buyer came in near $1,600,000, citing rent control. We held the line on what the building actually offered and closed higher.$1,800,000Sold4.92%Cap rate8UnitsRead the full story →
See the full record, including residential
Property Types We Handle

We work across the commercial property types that families and estates most often hold.

Retail

Retail properties ranging from quick-service restaurants and bank branches to auto-related uses, neighborhood retail, and more.

Office

Office buildings and medical office properties held in trusts or estates.

Industrial

Industrial buildings, warehouses, and light industrial properties, including fractional and co-owned interests.

Multi-Family

Multi-family residential properties held as commercial assets. This includes apartment buildings and multi-unit properties of various sizes held in trusts or estates.

Land and Redevelopment

Vacant commercial land, graded lots, and redevelopment parcels. These are valued on what can be built rather than on comparable house sales.

Owner-Occupied

Buildings that also house an operating business. We evaluate whether the real estate and the business should be marketed together or separately.

This range of experience allows us to match the right buyer pool and marketing approach to each asset, whether the property is held in a living trust, moving through probate, or being sold by a retiring owner.

The 1031 Clock

Three dates decide whether the exchange works.

They start the day your sale closes and they do not move. Missing either deadline makes the entire gain taxable.

0Day Zero

Your sale closes.

The clock starts the day the relinquished property closes. Proceeds must go to a qualified intermediary, not to you. Touch the money and the exchange is over.

45Identification

Replacements identified.

You have 45 calendar days to identify the replacement property or properties in writing. Weekends and holidays count. There are no extensions.

180Completion

Replacement closes.

The purchase must close within 180 calendar days of the original sale, or by your tax return due date for that year, whichever comes first.

This is general information and not tax advice. Confirm your specific situation with your CPA or tax attorney before you sell.

Transaction Record

Closed commercial transactions with prices, side of the table, and key details.

Commercial Lot - Orange, CA, sold for $2,200,000
Represented sellers

Commercial Lot - Orange, CA Orange County

Sold price: $2,200,000Multi-family redevelopmentRead the full story →
1448 Stearns Drive Los Angeles CA, inherited 8 unit multifamily sold for $1,800,000
Represented seller

8-Unit Multifamily - Los Angeles, CA

Sold price: $1,800,0008 units, 4.92% cap rate, inheritedRead the full story →
Auto Repair Shop - Santee, CA, sold for $1,100,000
Represented sellers

Auto Repair Shop - Santee, CA

Sold price: $1,100,000Business & real estate soldRead the full story →
801 W Vista Way Vista CA, 2 unit multifamily property sold out of an estate
Represented seller

2-Unit Multifamily - Vista, CA

Sold price: $1,100,0000.87 acres, estate saleRead the full story →
Auto Repair Shop - Indio, CA, sold for $935,000
Represented sellers

Auto Repair Shop - Indio, CA

Sold price: $935,000Off market closeRead the full story →
1510 Avenida de la Estrella San Clemente CA, industrial property sold out of probate
Represented seller

Industrial - San Clemente, CA Orange County

Sold price: $900,00025% estate stake, closed in 15 daysRead the full story →
Industrial - Palm Springs, CA, sold for $695,000
Represented seller

Industrial - Palm Springs, CA

Sold price: $695,000Vacant at time of sale
66337 Pierson Blvd Desert Hot Springs CA, office building sold out of a family trust
Represented seller

Office Building - Desert Hot Springs, CA

Sold price: $325,000Family trust, vacant two years, 21 daysRead the full story →
Fresenius Medical Care - Albany, OR, sold for $9,240,000
Represented seller & buyer

Fresenius Medical Care - Albany, OR

Sold price: $9,240,000Cap rate 5.60%, NN lease
Chase Bank - East Northport, NY, sold for $7,500,000
Represented seller

Chase Bank - East Northport, NY

Sold price: $7,500,000Cap rate 6.33%, absolute NNN lease
Guidepost Montessori - Waldorf, MD, sold for $4,946,086
Represented buyer in 1031 exchange

Guidepost Montessori - Waldorf, MD

Sold price: $4,946,086Cap rate 7.00%, absolute NNN
PetSuites - Columbus, OH, sold for $4,650,000
Represented buyer in 1031 exchange

PetSuites - Columbus, OH

Sold price: $4,650,000Cap rate 6.00%, absolute NNN
Chase Bank - Columbus, OH, sold for $3,100,000
Represented seller

Chase Bank - Columbus, OH

Sold price: $3,100,000Cap rate 3.80%, absolute NNN
Chase Bank - Tucson, AZ, sold for $2,545,000
Represented seller & buyer

Chase Bank - Tucson, AZ

Sold price: $2,545,000Cap rate 3.80%, absolute NNN retail
Taco Bell - Tifton, GA, sold for $2,425,000
Represented buyer in 1031 exchange

Taco Bell - Tifton, GA

Sold price: $2,425,000Cap rate 4.95%, absolute NNN
McDonald's - Carrollton, GA, sold for $2,250,000
Represented buyer in 1031 exchange

McDonald's - Carrollton, GA

Sold price: $2,250,000Cap rate 4.04%, absolute NNN
Chase Bank - Stanhope, NJ, sold for $2,150,000
Represented seller

Chase Bank - Stanhope, NJ

Sold price: $2,150,000Cap rate 4.42%, absolute NNN
Huntington Bank - Fenton, MI, sold for $1,395,000
Represented seller

Huntington Bank - Fenton, MI

Sold price: $1,395,000Cap rate 6.52%, absolute NNN
On the Record

The Fresenius Medical Care property in Albany, Oregon traded at the highest price per square foot ever recorded in the state.

$9,240,000 at a 5.60% cap rate. We represented both the seller and the buyer.

Tom Aragone, Aragone & Associates Commercial Division
Who You Would Be Working With

Tom Aragone

President, Commercial Division

Tom came out of Matthews Real Estate Investment Services, a national net-lease brokerage that sells primarily to REITs and institutional buyers. He now brings that same institutional discipline to families, retiring owners, and estates.

He has closed more than $100 million in commercial transactions, with repeated 1031 exchange representation. He holds a degree in Finance and Economics from Chapman University's Argyros School of Business and is fluent in both English and Spanish.

Chapman University, Argyros School of BusinessFormer Matthews Real Estate Investment Services$100M+ in commercial transactionsCalifornia DRE #020464831031 exchange representationEnglish and Spanish
(714) 926-9534 Call or Text Tom
FAQs

Common Questions, Answered

Common Questions for retiring owners, executors, and trustees with commercial property

Should I sell my business and my building together or separately?

It depends on what the operations are worth, and most owners underestimate that. The real estate has one buyer pool and a business with its real estate underneath it has another. At an auto body shop in Santee, taking the property and the business to market as one complete package drew multiple buyers and let us negotiate the final buyer up by $200,000, closing all cash at $1,100,000 in 30 days. The right answer starts with valuing both and comparing the two packages in writing.

What are the deadlines on a 1031 exchange?

Two, and both run from the day your sale closes. You have 45 calendar days to identify the replacement property in writing, and 180 calendar days to close on it, or until your tax return due date for that year if that comes first. Weekends and holidays count and there are no extensions. The proceeds must go to a qualified intermediary rather than to you. This is general information and not tax advice.

How is selling commercial property in an estate different from selling a house?

A house is priced against comparable sales. Commercial property is priced on what it earns or on what can be built on it, and the buyer pool is far smaller. Most agents who handle probate and trust work handle houses, which is a different valuation approach, a different marketing channel, and a different set of buyers.

Can an executor or trustee sell commercial property held in an estate?

Yes, subject to the authority granted by the trust document or by the court. We have sold a vacant commercial lot held in a family trust in the City of Orange for $2,200,000, an auto shop held in a family trust in Indio for $935,000, and a 25 percent industrial interest out of a probate in San Clemente. Confirm the specific authority with the estate attorney before the property is marketed.

Can an estate sell a partial or co-owned interest in a commercial property?

Yes. At 1510 Avenida de la Estrella in San Clemente an estate held a 25 percent stake in an industrial property, co-owned with a 50 percent owner and a 25 percent owner and complicated by a prior probate. After months of deadlock, a deal was secured within a month and the buyer closed in 15 days, waiving all contingencies and inspections from day one of escrow.

What size transactions do you work on?

We specialize in the commercial properties that families and estates actually own. This is the middle-market range where trust administration, probate complexity, owner-operator dynamics, and business plus real estate packaging matter most. Our closed record runs from under $1 million to nearly $10 million across retail, medical, industrial, land, multi-family, and owner-occupied buildings. We have the experience and capacity for larger or more complex family-held situations when the fit is right.

Do you handle the sale of the business as well as the building?

We handle the real estate and coordinate with a business broker on the operating company. Business brokerage in California requires a DRE broker license, so this answer has to be exactly accurate before it is published.

What is my Orange County commercial property worth?

On an income property, what it earns and what buyers in that band will pay for that income. On land, what can be built on it under current zoning. On an owner occupied building, both the real estate and whatever the operation inside it adds. Request a confidential valuation and we will give you the numbers for each path.

Request a confidential valuation.

Whether you are retiring and deciding what to sell, or settling an estate that includes commercial property or land, the first step is knowing what it is worth on each path. Tell us about the property and we will come back with the numbers, in confidence and with no obligation.

Results reflect specific transactions and market conditions at the time of sale. Individual results vary and are not guaranteed.

This content is for general information and is not legal or tax advice. Consult your own attorney or CPA regarding 1031 exchanges, fiduciary duties, and your specific circumstances.

Tom Aragone, California DRE #02046483. Aragone & Associates | First Team Real Estate.