HPH for sale? Options

[MartyYeoman]

I just saw this both on Craigslist and Facebook Marketplace.
Maybe Rich is just fishing.

[Jett]

11MM. Lol

[SirAndy]

11MM. Lol

Most of that is for the building and property.

It's in a prime location, right off the freeway.
(IMG:style_emoticons/default/shades.gif)

[Superhawk996]

11MM. Lol

Most of that is for the building and property.

It's in a prime location, right off the freeway.
(IMG:style_emoticons/default/shades.gif)

May be true, but based on how long and how it’s being offered, I’m betting any potential commercial real estate buyer is just looking at all the hoarded Porsche stuff as junk that will need to be gotten rid of before the property could be restored to a functional commercial property.

Instead of a discount to the buyer for the hassle of cleaning out the property it seems there is an assumption (at least in the link provided) that all the parts are “assets” adding value to the property just because they came from Porsches.

Most potential commercial buyers won’t see it that way. The unwillingness to sell parts in separate lots isn’t going to help.

It’s a shame really. No one here in the hobby wants to see all those parts go to scrap but there isn’t a viable Porsche business there for $11m +. As a result, it will probably sit and rot until the owner passes away and then the kids or appointed estate will simply scrap it.

This scenario is being played out all over the country. Commercial properties sitting vacant, under utilized because sellers aren’t able to come to terms with real value of the property or business.

If I hit the Lotto, I promise I’ll buy it, give away the parts to the 914 community like a massive version of Oscar’s Christmas Freebies. Then I’ll use the 8 bay garage as my own personal play area. (IMG:style_emoticons/default/laugh.gif)

[mepstein]

11MM. Lol

Most of that is for the building and property.

It's in a prime location, right off the freeway.
(IMG:style_emoticons/default/shades.gif)

May be true, but based on how long and how it’s being offered, I’m betting any potential commercial real estate buyer is just looking at all the hoarded Porsche stuff as junk that will need to be gotten rid of before the property could be restored to a functional commercial property.

Instead of a discount to the buyer for the hassle of cleaning out the property it seems there is an assumption (at least in the link provided) that all the parts are “assets” adding value to the property just because they came from Porsches.

Most potential commercial buyers won’t see it that way. The unwillingness to sell parts in separate lots isn’t going to help.

It’s a shame really. No one here in the hobby wants to see all those parts go to scrap but there isn’t a viable Porsche business there for $11m +. As a result, it will probably sit and rot until the owner passes away and then the kids or appointed estate will simply scrap it.

This scenario is being played out all over the country. Commercial properties sitting vacant, under utilized because sellers aren’t able to come to terms with real value of the property or business.

My son deals with properties like that all the time (works at a private equity firm). I remember him telling me he wired 50 mill for 10 acres near an LA harbor. The stuff inside doesn’t get a second look. It either gets taken by the seller or cleaned out by the buyer. It has to be a lot more than used car parts to be taken into any kind of valuation.