Feldman Commercial | Investment Sales, Acquisitions, Retail & Bonus Depreciation Advisory

Representative transactions

Acquisitions and sales across retail, nationally. Representative of past engagements — not a complete list, and not an offer or solicitation.

Single-tenant net lease

Willowbrae AcademySingle-tenant net lease

Gas stations

Shell gas station and convenience store — ShellSingle-tenant net lease / gas station

7-ElevenSingle-tenant net lease / gas station

Conoco gas station and convenience store — ConocoSingle-tenant net lease / gas station

Urban neighborhood retail

RiNO neighborhood retail — RiNOUrban neighborhood retail

Tennyson Street neighborhood retail — Tennyson StreetUrban neighborhood retail

Chandler neighborhood retail — ChandlerUrban neighborhood retail

Retail centers

Crown on 7th Neighborhood Shopping CenterRetail center

Panera Bread & Pacific DentalMulti-tenant retail

Neighborhood retail center with multiple tenants — Neighborhood retail centerMulti-tenant retail

Three practices, one process

Buyer representation

Acquisitions

I work for buyers in competitive processes — and source off-market and pre-market properties so you get a first look before they go to the open market.

Criteria set in writing before any property is shown
Competitive bid strategy and negotiation
Off-market and pre-market first look
Underwriting, financing and closing support

Tax-aware strategy

Bonus depreciation

Qualifying real estate — gas stations, car washes and similar assets — reviewed against your actual tax position before you buy, with your CPA in the conversation.

Qualification and cost-segregation review
First-year deduction and carryforward modeling
Recapture, 1031 exchange and exit considerations

Owner advisory

Investment sales

I represent owners selling retail and net-lease property: pricing, buyer targeting and a marketing process built around who actually closes.

Valuation and pricing strategy
Targeted buyer outreach, including 1031 capital
Offer management and closing oversight

A deduction you cannot use is not a benefit

Certain qualifying real estate — including gas stations and car washes — can generate substantial first-year depreciation under current law. Evaluate the property, tenant credit, financing and tax assumptions together before you buy.

I trained as a CPA at PwC, so I can follow a complicated tax situation and speak directly with your CPA about the details, about whether a deal actually helps you before you buy. I am not giving tax advice. I am making sure the tax side is reviewed alongside the real estate rather than discovered afterwards.

Maverik gas station at dusk — Maverik · national operator

At the 37% top federal rate. The full calculator adds your state, tenant credit profile, leverage, cash-on-cash return, and a five-year picture. Illustrative only; consult your tax advisor before relying on any figure.

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A hypothetical purchase — then make it yours

Equity you invest$1,500,000

or drag the slider

Drag the slider or pick a starting point to see your scenario.

Purchase price it supports≈ $4,285,714

Credit profile

6.50% cap · 65% LTV · 6.16% rate (SOFR + 250) · DSCR 1.27x

Interest rate

Good estimate for a large regional station today: 6.16% — SOFR 3.66% (Sep 2026) + 250 bps.

Your state

Federal 37% only — pick your state to add the state benefit where it conforms.

$1,347,857estimated year-one tax savings, if you can fully use the loss

At 37.0% combined (federal only — pick your state to add the state benefit)

90%of your $1,500,000 equity, back in year-one tax savings.

Assumes 85% of price as bonus-eligible basis; the yield lines use a cap of 6.50% and debt underwritten at SOFR + 250 bps (6.16% at 3.66% SOFR, Sep 2026) over 25-yr amortization. Every deal moves these — that’s the conversation.

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