Strategizing and implementing a successful investment deal is demanding, particularly for business owners and commercial real estate investors leading busy lives. Thanks to modern-day technology, we have access to free commercial real estate listing websites, saving time otherwise spent in numerous meetings and viewings.
However, the success an individual experiences with these websites often depends on how much money they’re willing to spend on membership premiums or how much time they have to invest in searching for commercial real estate listings.
Of course, if you are searching for an investment property in the net lease space, there are two major industry players to consider: Loopnet and Cityfeet. Both operate under the CoStar banner, which is the largest owner of MLS in the United States at present. In this article, we’re going to put the two head-to-head and explore the features of each software.
Why Use Commercial Real Estate Listing Sites?
Commercial real estate professionals and investors use multiple listing services as an innovative marketing and networking solution to expand their business reach. Brokers, tenants, and investors are all connected within the same space to discover commercial properties of interest to their business objectives.
However, using high-volume search platforms like Loopnet can be time-consuming to find the best property to suit an individual’s investment goals. Further, many MLS sites require premium membership fees to access property records and comps, creating barriers to access for individual investors.
If you’re looking for a triple net lease investment property but don’t have the time to conduct searches or the finances to pay premium prices to access property data and analytics, get in touch with the team at NNN Deal Finder. As a buyer’s broker, we can help you find the perfect commercial property without the hassle of hours of searching and expensive membership fees.
Alternatively, for those that prefer a hands-on approach, let’s dive into the features and comparison of CoStar’s Cityfeet vs Loopnet.
Cityfeet
Cityfeet is a leading online listing service distribution network, connecting a matrix of commercial real estate property owners with brokers, investors, and tenants. Established in 1995, the company aspired to create innovative marketing and networking solutions to address the time-consuming process of property searches. Cityfeet was acquired by LoopNet in 2007 to build the largest distribution network in the real estate sector. The platform allows businesses and professionals to advertise properties and find commercial real estate, offices, and retail space through the Cityfeet website and those of their 200+ partners.
Real estate agents, dealers, and investors are guaranteed efficient and fast visibility in local and national searches. Through partnering and optimization, the company aspires to make commercial real estate marketing highly targeted and less time-consuming.
Features
Cityfeet offers listing services in all states but is focused on New York City, providing custom-built searches for office space, executive suites, and industrial space in NYC’s neighborhoods. In New York, there are over 13,000 commercial real estate listings available for viewers.
While many listing services provide a platform for real estate agents and brokers, Cityfeet offers a direct channel to all investors, tenants, and commercial real estate professionals actively seeking spaces. End users have unrestricted access to browsing features on the multiple listing service, though members can purchase monthly packages to access more advanced marketing features.
The platform generates over 600,000 views per month, with users spending an average of four minutes browsing the site.
Cityfeet Highlights
- Highly targeted commercial real estate audience.
- Search engine optimization and strong partner network to maximize exposure.
- Highly targeted commercial properties classes.
Cityfeet Limitations
- Lower inventory.
- Membership packages are pricey.
- Centralized around New York City.
Who Should Use Cityfeet?
Cityfeet is a listing distribution network for investors, business owners, and real estate brokers to access a highly targeted audience in commercial real estate. While the platform has listings in all 50 states, the primary focus is on large metropolitan statistical areas, in particular, New York City.
Cityfeet primarily focuses on non-multifamily commercial real estate, highlighting office spaces, coworking spaces, and executive suites for sale or lease. Investors and businesses seeking specialized property listings in commercialized areas may find value in the platform offered by one of the United States’ real estate sector’s largest distribution networks.
LoopNet
LoopNet operates the largest commercial real estate marketplace online, offering users greater site traffic and geographic coverage than any other commercial real estate market in the United States. The company was established in 1995 and later became a part of the CoStar Group.
Well known for offering excellent listing exposure for brokers and sellers, the site generates over 60 million views per month, with viewers resting an average of four minutes on the site. Commercial real estate professionals can market properties online and conduct refined searches among the nation’s greatest multiple listing service databases.
Features
LoopNet has a vast inventory of commercial property, with industrial, residential income properties, and land making up half its directory and office space and retail comprising the other half.
Listings offer valuable information to brokers, businesses, and investors, such as location, square footage, agent contact details, and price. The platform is also recognized for high-quality interior and exterior imagery, drone footage, and virtual video property tours. Data analysis and reporting are available to users with premium memberships, ranging between silver to and gold, and platinum.
Loopnet Highlights
- Unparalleled exposure to listings in the commercial real estate market, with a high volume of daily searches.
- Commercial real estate listings can be refined by property type, price, location, square footage, units, and cap rate percentage.
- Many listings are detailed and provide high-quality images with in-depth descriptions.
- Widespread national and local coverage.
Loopnet Limitations
- Offers commercial real estate listings only
- Data accuracy depends on the information entered by the agent
- Beyond the basic plan, membership packages entail high premiums and long-term contracts for listing placement
Who Should Use Loopnet?
Investors, business owners, and brokers seeking maximum exposure among the United States’ largest multiple listing service audiences would derive value from this platform. This massive industry player utilizes search engine optimization marketing to ensure end-users gain optimal local and national exposure for their listings.
The company has been a major listing engine for over 25 years, yet investors and brokers tend to be displeased with the high prices the platform demands from members, and the quality of customer service. Loopnet is the largest multiple listing service available in the United States, and the user-friendly digital interface and outstanding customer service do not appear to meet modern consumer demands.
Additionally, the sheer volume of Loopnet users – totaling 12.6 million monthly visitors – suggests that brokers and investors may be required to wait for days on end to receive a response from a submission of interest, if at all. This is not ideal for those who want to secure a property quickly.
Which Site is Best For Investors?
Investors seeking a commercial real estate investment may find either of the platforms more valuable, depending on their goals. Here is a breakdown of certain points compared head-to-head.
Fees and Membership
Cityfeet and Loopnet have unrestricted access for all end-users to browse and search on the platforms. However, should users wish to post listings or engage in professional investments or business through the sites, they must purchase membership packages.
As both companies are owned by the CoStar group they tend to be somewhat pricey in comparison to their market competitors. Cityfeet monthly membership fees range between $99 and $320 per month for users who wish to take advantage of the platform’s full features. Loopnet charges between $70 per month for a single listing, and up to $3,300 per month for unlimited listings. Additionally, the company sells listings under long-term contracts only.
Exposure and Accuracy
There’s no doubt that Loopnet takes the cake for the best commercial real estate listing exposure as the United States’ largest multiple listing service. Not only does it have a larger audience than Cityfeet, but it also spans a wider range of commercial property types in a more comprehensive geographic span.
Cityfeet, on the other hand, structures its business model around targeting specific geographic areas and property types, to an effectively “cherry-picked” audience built through hundreds of strategic partnerships. If you know what you want and where you want it, Cityfeet may be the way to go – particularly if you’re looking for office spaces in NYC.
Summary
While both companies are owned by and operated under the Costar Group, they cater to different audiences. Loopnet is the largest commercial real estate marketplace in the United States. It is typically used by those who seek more exposure to a broad range of property types sweeping almost every corner of the nation. Cityfeet, on the other hand, is a distribution network that caters to targeted audiences and specific property types, particularly in New York.
While both sites act as a free online platform for users to search at the most basic level, CoStar tends to charge above-average membership fees for property owners and investors to post a commercial real estate listing, access records, or use data and analytics features.
If you want to discover the right space for your NNN lease investment without the time-consuming and expensive searches, contact the expert buyer’s brokers at NNN Deal Finder. Our team is committed to serving investors in the commercial real estate space and helping you to find the perfect investment vehicle to carry you to your financial goals.