1. Sells “square meters” instead of cash flow (NOI)
    For an investor, the most important aspects are net operating income, risk, and growth potential. Common mistake: the listing contains a lot of emotion about the location, but few numbers – lease agreements, indexing, OPEX, CAPEX plan, occupancy, WAULT.
  2. Disorganized lease/legal package (due diligence)
    Lack of a clear “data room”: lease agreements with annexes, payment history, debts, guarantees, energy certificates, permits, reconstruction documents. When documents “emerge” later – the price drops or the deal collapses.
  3. Unrealistic price expectation (ignoring CAP rate)
    The owner relies on “how much I need,” but the market calculates based on yield (cap rate), risk premium, tenant quality, and lease term. As a result, the property gets stuck in the market and loses momentum.
  4. Weak tenant risk management (short-term tenants, no guarantees)
    Unrenewed contracts, no indexing, no deposit/guarantees, short remaining term, tenant with weak financial discipline. The buyer factors this into the price or requests changes to the terms before purchase.
  5. No clear sales strategy and positioning
    The property is communicated “to everyone”: neither a clear investor profile (core / core+ / value-add / opportunistic) nor a defined sales process (teaser, IM, data room, term sheet, deadline). The result – a lot of noise, few serious offers, lost negotiating power.