Kimberly Stepp, a Los Angeles multifamily real estate broker, discusses pricing shifts and compressed multiples across prime commercial properties with host Paul Morris.
“There's no more 20 times gross deals happening. There's certainly not. I'm shocked. I'm shocked. How low even the most prime locations are going on the gross rent multiplier level, cap rate level.”
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More from Kimberly Stepp
Insight
Stepp: Female commercial real estate brokers have an advantage securing client meetings
“It's a, there's some benefits of being a woman in this business for many reasons. I mean, I think getting indoors where men can't get in. I mean, it's, they seem to say yes to women a little bit more than they do to men. If I say, call someone up and say, Hey,…”
Kimberly SteppSep 22, 2025▶ 0:57Turning Rent Control Into Profit
Insight
Stepp: Generalizing across property types is fatal in commercial real estate
“I think being a Jack of all trades is really a kiss of death in, in, Any real estate, but commercial real estate in particular.”
Kimberly SteppSep 22, 2025▶ 3:56Turning Rent Control Into Profit
Insight
Stepp: Professional CRE investors prioritize cost per square foot above all
“That's why most astute, and I'm not saying you're not astute. Investors tend to look at cost per square foot. That's the number one. The pros, all the pros do. That's all I care about.”
Kimberly SteppSep 22, 2025▶ 31:31Turning Rent Control Into Profit
AssertionContradicted
Stepp: Lenders Cap Commercial Real Estate Leverage at 50%
“Nobody's getting more than 50% loan. On anything. Underwriting.”
Kimberly SteppSep 22, 2025▶ 44:36Turning Rent Control Into Profit
Opinion
Stepp: Women Represent Disproportionate Share of Top CRE Brokers
“I think there's a Small percentage of women, but the women that are in the business do very, very well. I think the top one percent of commercial real estate brokers that a lot of women are in that pool.”
Kimberly SteppSep 22, 2025▶ 0:23Turning Rent Control Into Profit
AssertionNot checkable as stated
Stepp: Commercial sellers often reject full-price offers based on buyer reputation
“Many times I'll tell the seller this, the backstory of a buyer and sometimes they won't even count or even if it's at full price based on the personality and then the reputation of the person.”
Kimberly SteppSep 22, 2025▶ 6:27Turning Rent Control Into Profit
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