Unsolicited letter of intent from Coldwell Banker Commercial
I own a small residential rental house in NC. It is on a corner across from a newly developed grocery store anchored shopping center so it possibly has future commercial potential. I received an unsolicited letter of intent to purchase for roughly double the tax assessors value with a card from a Coldwell Banker Commercial broker attached.  Is this a common practice in commercial real estate?
[{"id": "ib35tdk", "text": "Yeah, could be sending out mass letters could be for a potential redevelopment. Give him a call see what he says and talk to the neighbors about trying to buy their property, I wouldn\u2019t lead on that you received an offer.", "replies": [{"id": "ib458za", "text": "So is this a thing? If you\u2019re a small timer and you buy the lot next door to your place? I\u2019ve thought about this a lot and assumed I have a great advantage if the 2 lots are worth more together. are the usually? And to who are they worth more if they are sold?", "replies": [], "depth": 2}], "depth": 1}, {"id": "ib35z8u", "text": "All normal. A LOI is used for commercial properties when trying to start negotiations.", "replies": [{"id": "ib37lkt", "text": "Ok thank you. Good to know.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ib3966b", "text": "Letters of intent are typically non-binding on either party and usually the starting point for negotiation. Don't confuse the assessed value with the appraised value, two different numbers and can vary widely.  Not the same thing,  The assessed value is for the purpose of determining taxes. The appraised is a reflection of perceived market value at a specific point in time.", "replies": [], "depth": 1}, {"id": "ib3axdd", "text": "That\u2019s pretty common.  Doesn\u2019t mean the value is good.  Talk to commercial appraisers in your areas.", "replies": [], "depth": 1}, {"id": "ib3kpm7", "text": "Yes, but you should speak with an appraiser or another broker to get an understanding of value before you accept a random offer, as you may have more room to get better value for your property", "replies": [], "depth": 1}, {"id": "ib3x5bx", "text": "Send me the address via message if you actually have interest in selling. \n\nI will pay more and close quickly IF it meets my criteria.\n\nWhat did some dumbass downvote me? If they are in the market to sell and it\u2019s a potential redevelopment play I will absolutely pay top dollar and close quick (all cash) \n\nI have a billion dollar fund. I\u2019m ready to rock and roll, if you\u2019re property meets my criteria.", "replies": [], "depth": 1}]