GUIDE
Selling a business that includes real estate
The company and the building are two assets until you decide they are one deal.
Do not hide the building inside the business price
A buyer may want the cash flow and a lease, not the real estate. Another buyer may want the corner and be indifferent to the brand. If you only offer a package, you will miss one of them, or you will argue later about which asset was worth what.
A preliminary business range is not a property appraisal.
Leases and owned buildings create different buyers
If you own the building, decide whether you will sell it, lease it to the buyer, or keep it. Rent you charge yourself is not the same as rent a buyer will pay. Write the market question down instead of assuming the current arrangement continues.
In New Jersey, real property used in the business can fall inside the bulk-sale rules described by the Division of Taxation. Read that guide and ask a tax adviser. This page does not apply the statute to your deed.
Questions
Should I get the building appraised?
If the price depends on the property, an independent appraiser is the person who does that work. The sell form does not appraise real estate.
Can I sell the business and keep the building?
Often, yes, if the buyer will lease it on terms you both accept. Say that at the start.