Real Estate Case Study Examples
Case 1

Case Study 1: How Meridian Advisory Helped a Client Unlock $2.4M in Hidden Asset Value Through Zoning Analysis

About the Business

Based in San Diego, Meridian Advisory Group is a strategic real estate advisory firm specializing in commercial and mixed-use projects. Since 2016, the firm has helped clients unlock site potential through expert land use guidance, zoning analysis, and development strategy. With a focus on highest and best use, Meridian turns underutilized properties into high-performing assets.

Name: Meridian Advisory Group

Location: San Diego, California

Service Area: Commercial and mixed-use real estate

Founded: 2016

Specialization: Strategic advisory, land use, highest and best use analysis

The Challenge

A long-standing client came to Meridian Advisory seeking support with the sale of a 0.9-acre commercial property located near a light industrial zone in San Diego. A traditional broker had already evaluated the asset at $4.6 million, using comparable sales and assuming the property would continue operating as a warehouse. However, that narrow view left significant value on the table.

Meridian quickly recognized several key issues holding the property back. First, the site was underutilized - marketed solely as a warehouse with no consideration for alternative uses. Second, recent zoning changes linked to the city’s transit-oriented development (TOD) initiative had created powerful new development opportunities that had gone completely unnoticed. Most critically, the owner was unaware that the parcel now qualified for upzoning and mixed-use incentives that could drastically reshape its value and appeal.

What started as a standard property sale quickly evolved into a discovery of untapped potential worth millions.

The Solution

Meridian Advisory went beyond basic valuation by launching a full zoning and entitlement audit. Their analysis revealed significant opportunities that changed how the property should be positioned in the market. Key findings included:

  • 35% density bonus under TOD regulations, allowing for greater development scale.

  • Upzoning approval for residential-over-retail use, unlocking mixed-use potential.

  • Reduced parking minimums, improving buildout efficiency and project economics.

  • Tax credit eligibility tied to affordable housing incentives.

  • Underutilized FAR, which had not been factored into the broker’s initial valuation.

These insights allowed Meridian to reframe the property - not as a warehouse, but as a valuable mixed-use development site.

To support this shift, they provided:

  • Custom pro formas modeling different development scenarios.

  • Zoning reports and buildout visuals aligned with new regulations.

  • City application guidance, helping buyers navigate early planning requirements.

By telling a more strategic story backed by data, Meridian attracted experienced developers and institutional buyers turning an overlooked asset into a competitive opportunity.

The Results

Metric

Before (Traditional Broker)

After (Meridian Advisory)

Change

Estimated Market Value

$4.6M

$7.0M

+$2.4M

Buyer Type

Warehouse owner-operators

Developer pool

Broader Market

Time on Market

~4 - 6 months (est.)

10 weeks

Faster Close

Value per Buildable SF (Estimated)

$180

$275

+53%

These results underscore the transformative impact of expert zoning analysis and strategic repositioning. By reframing the property's potential, Meridian Advisory attracted a broader, more qualified buyer pool and significantly accelerated the sale timeline. The $2.4M value increase wasn't just a financial gain—it was a direct outcome of seeing what others missed.

Key Takeaways

This real estate case study is a clear example of how strategic land use planning can transform value.

  • Properties once viewed through a narrow lens can become the centerpiece of a new urban vision.

  • Real estate advisory services bring hidden layers of potential to the surface.

  • Zoning, entitlement, and development planning should be central to real estate business decisions, not afterthoughts.

For those starting a real estate company or scaling a real estate startup, this is a lesson in the power of knowing not just what your property is, but what it could be. Meridian didn’t just market a site - they unlocked a future.

Case 2

Real Estate Case Study 2: How AltaCore Advisors Repurposed a Vacant Office Building into a $10.8M Mixed-Use Asset

About the Business

AltaCore Advisors is headquartered in Boston, Massachusetts. The firm focuses on urban repositioning and highest-and-best-use advisory. Since 2014, it has served institutional asset managers, developers, and family offices.

Name: AltaCore Advisors

Location: Boston, Massachusetts

Service Area: Urban repositioning, asset strategy, highest-and-best-use advisory

Founded: 2014

Clients: Institutional asset managers, family offices, developers

The Challenge

A regional real estate investment trust (REIT) enlisted AltaCore Advisors to evaluate one of its underperforming properties: a five-story office building in the heart of Boston. Built in 1988, the structure had seen better days - nearly two-thirds of the space had remained vacant for over a year, with little interest from prospective tenants.

The reasons were clear:

  • Demand for conventional office layouts had plummeted in the wake of COVID-19.

  • The building's floorplates were inefficient, and its interiors lacked modern appeal.

  • Competing properties offered amenities that this asset couldn’t match.

  • Most critically, there was no plan, no adaptive reuse strategy, no roadmap for repositioning, and no vision for reinvention.

Rather than accept the vacancy as a loss, AltaCore saw an opportunity to transform the building’s purpose entirely. As this real estate case study example shows, even dated office properties can become lucrative mixed-use destinations with the right strategy.

The Solution

AltaCore began with a highest-and-best-use feasibility study, analyzing zoning, market trends, and local demand. This study served as the foundation for a complete repositioning plan focused on flexibility, urban livability, and multiple income streams.

Key strategic actions included:

  • Converting the top two floors into furnished short-term rentals designed for business travelers.

  • Redesigning the ground and second floors as a blend of coworking space and boutique retail.

  • Partnering with a design-build firm to retain the historic façade while fully modernizing the interior.

  • Planning the lease-up strategy around Q3–Q4 transient housing demand and flexible office trends.

  • Developing a full financial model to compare projected returns with those of the outdated office layout.

These decisions were rooted in local data, not just design aesthetics. The hybrid model - hospitality, office, and retail - gave the building new life and a new audience.

The Results

Metric

Before Repositioning

After Redevelopment

Change

Asset Valuation

$6.2M

$10.8M (appraised)

+74%

Occupancy Rate

38%

94% (stabilized)

+56 p.p.

Net Operating Income (annualized)

$236,000

$732,000

+210%

Time to Stabilization

13 months

Forecasted

These outcomes highlight how data-driven repositioning can dramatically boost both asset value and income performance. AltaCore Advisors didn’t just renovate a building—they redefined its market role, turning a vacant liability into a vibrant, income-generating hub. The 210% increase in NOI is a testament to aligning strategy with evolving urban demands.

Key Takeaways

This real estate case study sample reflects how older assets can be reimagined when paired with bold, data-backed strategy.

  • Repositioning is not about cosmetic upgrades - it’s about identifying what the market needs and matching the asset to that demand.

  • Mixed-use configurations provide diverse income streams and resilience across economic cycles.

  • Deep local analysis and financial modeling are just as important as architectural design.

  • AltaCore’s real estate advisory approach demonstrates how even outdated buildings can become core performers in a portfolio.

For those seeking real estate business ideas, exploring case study examples, or starting a real estate company, this project is a model of modern urban transformation.

In a world where demand shifts quickly, adaptability is a necessity. This case proves that with the right vision, even the most forgotten assets can be brought back to life.