EPISODE 595: Why Every Commercial Property Should Have Three Plays
Most investors analyze a property by looking at the numbers.
The rents. The expenses. The cap rate.
But what if the biggest opportunity, or the biggest risk, has nothing to do with the building itself?
In this episode of The Real Estate InvestHER Podcast, Liz and Andresa sit down with commercial real estate broker and former planning commissioner Daniella Devine to explore a completely different way of evaluating commercial real estate opportunities.
Daniella shares the story of losing $70,000 on what appeared to be a great midterm rental deal in Bend, Oregon. The property checked all the boxes. The numbers worked. The demand was there.
What she missed was what was happening around the property.
That experience transformed how she evaluates every deal and led her to one of her core investing principles:
Never look for one play on a parcel. Look for three.
Throughout the conversation, Daniella breaks down how investors can move beyond surface-level analysis and begin evaluating the full potential—and hidden risks—of a property by understanding zoning, city planning, surrounding development, and market voids.
She explains why the cap rate is only the beginning of the conversation, how to identify opportunities others overlook, and why understanding highest and best use can dramatically change the value of a deal.
The discussion also explores one of the biggest shifts happening in today's market: the wave of baby boomer-owned commercial properties changing hands and the opportunities available to investors who prioritize relationships over transactions.
And for those who believe commercial real estate is only for seasoned investors with large residential portfolios, Daniella offers a perspective that may completely change how you think about getting started.
In This Episode, You'll Learn:
➡️ Why analyzing the parcel matters just as much as analyzing the property
➡️ The costly lesson behind Daniella's $70,000 loss
➡️ Why every property should have at least three potential plays
➡️ How zoning research can uncover hidden opportunities and risks
➡️ What a voids analysis is and how it can help you identify underserved markets
➡️ Why the cap rate is only the starting point, not the strategy
➡️ How to evaluate highest and best use across different asset classes
➡️ What the coming generational transfer of commercial real estate could mean for investors
➡️ Why you do not need residential experience before investing in commercial real estate
Whether you're actively investing in commercial real estate or simply want a smarter framework for evaluating opportunities, this episode will change the way you look at properties, parcels, and the markets around them.
Connect with Daniella:
Website
Linktree
Resources Mentioned In This Episode:
Crexi Commercial real estate marketplace and analytics platform
JLL, Colliers, and Cushman Wakefield Quarterly Market Reports: Free reports available by Googling each firm plus your target market. Search over 10 years to track how a sub-market has changed.
Resources to Support Your Next Step:
Ready to go beyond the episode and take action to build wealth, achieve financial freedom and live the life you want?
InvestHER Assessment Take this 5-minute quiz to determine where you are in your investment journey and receive a custom roadmap with practical steps you can start taking today.
STRIVE Mentorship Program Stop growing your portfolio alone. Start building wealth with the right community behind you. STRIVE is a strategic framework that helps women real estate investors build wealth with more clarity, structure, and support.
InvestHER FundInvesting in Women-Led Real Estate Projects. The InvestHER Fund is being built to allocate capital across multiple vetted real estate projects led by operators from the InvestHER community. The goal is to support experienced women operators with strong track records who have reached a capital growth barrier, while also fulfilling the needs of passive investors looking to diversify their portfolios through real estate investments that generate recurring income opportunities
See you in the arena!
Liz + Andresa
Produced by: Social Chameleon