Caleb's Commercial Real Estate Jeopardy of Champions

LeasePolice

100

In commercial real estate this type of agent represents the lessee in a lease transaction.

Tenant Rep

200

A Lessee that pays taxes, insurance, and common area maintenance is most likely in this type of lease.

Triple Net (NNN)

300

Prior to signing a lease, general terms are negotiated between parties using this informal document.

Letter of Intent (LOI)

400

If you, the Lessor, are signing a lease with a Franchisee of a large corporation, it is a good idea to get one of these.

Corporate Guarantee 

500

An agreement in which a tenant can develop property during the lease period, after which it is turned over to the property owner.

Ground Lease

Don't DerailThat Sale

100

It is a good idea to get one of these to verify what you own and check for encroachments & easements.

Survey

200

These provisions allow a buyer to walk away from a contract typically without incurring any penalties.

Contingencies / Due Diligence

300

This rule named from a section of the Internal Revenue Code allows you to "swap" real estate and defer capital gains.

1031 Exchange 

(Also not always the best option)

(Also talk to Sarah)

400

Although found on many properties, this is the primary expense not considered when calculating a cap rate.

Loan/Debt Service

500

A contract with a provision allowing the holder of the contract to transfer the obligations and rights of the contract to another party.

An Assignable Contract

MysteryNWA History

100

Built between 1873 & 1875, this is one of the most recognizable buildings in Fayetteville.

Old Main

200

This street is the home of the original Walmart.

W Walnut St in Rogers

300

This city is the only one in Arkansas to ever host a Presidential Convention but is mostly known for being underwater in more ways than one.

Monte Ne

400

A modern company occupies this 1900's building that may cause envy. It was used for the same purpose in the 1940's.

500

The Historic Fayetteville Old Post Office changed hands in 2018. The buyer and seller both own food franchises. Name one of the franchises.

Seller: Doe’s Eat Place

Buyer: Jim's Razorback Pizza

Hype that Property Type

100

This is the only property of which you can't make anymore.

Land

200

This property type is normally sold "per door."

Multi-family

300

This property type is often built under 12,000 sf to avoid having to put in fire sprinklers.

Warehouse

400

This property sub-type has the some of lowest vacancy rates in NWA.

Medical

500

In commercial real estate amusement parks, churches, self-storage, and bowling alleys would be classified as this.

Special Purpose