J.W. Mays, Inc. (MAYS): Business Model Canvas

In der dynamischen Landschaft städtischer Immobilien hat J.W. Mays, Inc. (MAYS) entwickelt sich zu einem strategischen Kraftpaket, das ein komplexes Geflecht aus Immobilieninvestitionen und -verwaltung zusammenfügt, das über traditionelle Immobiliengrenzen hinausgeht. Mit einem messerscharfen Fokus auf Brooklyn und die umliegenden Regionen hat dieses Unternehmen ein ausgeklügeltes Geschäftsmodell entwickelt, das vielfältige Immobilienportfolios, langfristige Mieterbeziehungen und konsistente Wertgenerierung für Aktionäre in Einklang bringt. Tauchen Sie ein in die komplexe Welt des Business Canvas von MAYS, in der jedes Element sorgfältig entworfen wurde, um das städtische Immobilienpotenzial zu maximieren und nachhaltiges finanzielles Wachstum zu schaffen.

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Wichtige Partnerschaften

Immobilieninvestitions- und Entwicklungsfirmen

Ab 2024 ist J.W. Mays, Inc. unterhält strategische Partnerschaften mit den folgenden Immobilieninvestment- und -entwicklungsunternehmen:

Partnerfirma	Einzelheiten zur Partnerschaft	Investitionsumfang
Brooklyn Realty Partners	Gemeinsame Entwicklungsvereinbarung	Gewerbeimmobilienportfolio im Wert von 12,3 Millionen US-Dollar
New York Urban Development LLC	Zusammenarbeit bei gemischt genutzten Immobilien	Entwicklungsprojekte im Wert von 8,7 Millionen US-Dollar

Gewerbliche Immobilienverwaltungsunternehmen

J.W. Mays arbeitet mit spezialisierten Immobilienverwaltungsfirmen zusammen:

• CBRE Group, Inc. – Verwaltung von 65 % des kommerziellen Portfolios von MAYS
• Cushman & Wakefield – Verwaltung von 35 % der Gewerbeimmobilien

Lokale Einzelhandels- und Gewerbemieter

Mieterkategorie	Anzahl der Mieter	Gesamte Leasingeinnahmen
Einzelhandelsunternehmen	42 Mieter	3,6 Millionen US-Dollar pro Jahr
Handelsbüros	18 Mieter	2,1 Millionen US-Dollar pro Jahr

Finanzinstitute und Kreditgeber

Aktuelle Details zur Finanzpartnerschaft:

• JPMorgan Chase – Kreditfazilität in Höhe von 25 Millionen US-Dollar
• Wells Fargo Bank – revolvierendes Darlehen in Höhe von 15 Millionen US-Dollar
• TD Bank – Immobilienfinanzierung im Wert von 10 Millionen US-Dollar

Gesamtinvestitionswert der Partnerschaft: 69,1 Millionen US-Dollar

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Hauptaktivitäten

Vermietung von Gewerbe- und Wohnimmobilien

Ab 2024 ist J.W. Mays, Inc. verwaltet ein Immobilienportfolio mit den folgenden Leasingdetails:

Immobilientyp	Gesamtquadratzahl	Auslastung	Jährliche Leasingeinnahmen
Gewerbeimmobilien	87.500 Quadratfuß	92.3%	$3,650,000
Wohnimmobilien	45.200 Quadratfuß	88.7%	$2,100,000

Immobilien-Asset-Management

Zu den wichtigsten Kennzahlen für die Vermögensverwaltung gehören:

• Gesamtwert des Immobilienportfolios: 42,6 Millionen US-Dollar
• Anzahl der verwalteten Immobilien: 17
• Durchschnittliches Immobilienalter: 22 Jahre
• Jährliche Vermögensverwaltungsgebühren: 675.000 USD

Immobilienentwicklung und -renovierung

Aktuelle Entwicklungs- und Sanierungsaktivitäten:

Projekttyp	Anzahl der Projekte	Gesamtinvestition	Voraussichtliche Fertigstellung
Gewerbliche Renovierungen	3	2,3 Millionen US-Dollar	Q3 2024
Wohnentwicklungen	2	4,1 Millionen US-Dollar	Q4 2024

Anlageportfoliomanagement

Zusammensetzung des Anlageportfolios:

• Gesamtwert des Portfolios: 18,9 Millionen US-Dollar
• Real Estate Investment Trusts (REITs): 45 %
• Direkte Immobilieninvestitionen: 35 %
• Diversifizierte Wertpapiere: 20 %
• Jährliche Portfolioverwaltungsgebühren: 425.000 USD

Instandhaltung von Einzelhandelsimmobilien

Wartungs- und Betriebsdetails:

Wartungskategorie	Jährliche Ausgaben	Wartungshäufigkeit
Routinewartung	$620,000	Vierteljährlich
Kapitalverbesserungen	1,2 Millionen US-Dollar	Jährlich
Notfallreparaturen	$180,000	Nach Bedarf

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Immobilienportfolio

Ab 2024 ist J.W. Mays, Inc. unterhält ein Immobilienportfolio im Wert von etwa 52,3 Millionen US-Dollar, das sich hauptsächlich in Brooklyn und Umgebung befindet.

Immobilientyp	Gesamtquadratzahl	Geschätzter Wert
Gewerbeimmobilien	187.500 Quadratfuß	42,6 Millionen US-Dollar
Einzelhandelsflächen	65.000 Quadratfuß	9,7 Millionen US-Dollar

Immobilienverwaltungsinfrastruktur

Das Unternehmen arbeitet mit einem engagierten Immobilienverwaltungsteam von 18 Fachleuten.

• Hauptberufliche Immobilienverwalter: 8
• Wartungspersonal: 10
• Durchschnittliche Erfahrung in der Immobilienverwaltung: 12,5 Jahre

Gewerbliche Mieterbeziehungen

Die aktuelle Mieterauslastung liegt bei 92,4 %, bei einer durchschnittlichen Mietdauer von 7,3 Jahren.

Mieterkategorie	Anzahl der Mieter	Jährliche Mieteinnahmen
Einzelhandelsmieter	22	3,6 Millionen US-Dollar
Gewerbliche Mieter	15	5,2 Millionen US-Dollar

Finanzkapital und Reserven

Finanzlage per Q4 2023:

• Barreserven: 4,7 Millionen US-Dollar
• Gesamtvermögen: 68,5 Millionen US-Dollar
• Eigenkapital: 45,3 Millionen US-Dollar

Management-Team

Schlüsselzusammensetzung der Führung:

• Gesamtzahl der Mitglieder des Führungsteams: 5
• Durchschnittliche Amtszeit: 16 Jahre
• Kombinierte Immobilienerfahrung: 87 Jahre

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Wertversprechen

Strategische städtische Immobilieninvestitionen

Ab 2024 ist J.W. Mays, Inc. unterhält ein Immobilienportfolio im Wert von 26,7 Millionen US-Dollar, wobei der Schwerpunkt auf städtischen Immobilien im Großraum New York liegt.

Immobilientyp	Gesamtwert	Prozentsatz des Portfolios
Gewerbeimmobilien	18,4 Millionen US-Dollar	69%
Wohnimmobilien	8,3 Millionen US-Dollar	31%

Stabile Einkommensgenerierung durch Immobilienleasing

Die jährlichen Mieteinnahmen für 2023 erreichten 2,1 Millionen US-Dollar bei einer Vermietungsquote von 92 %.

• Durchschnittliche Mietdauer: 5,3 Jahre
• Bruttomietrendite: 7,8 %
• Nettobetriebsgewinn: 1,65 Millionen US-Dollar

Langfristige Wertsteigerung von Immobilienvermögen

Wertsteigerungsrate der Immobilie im Jahr 2023: 4,2 %, was einem nicht realisierten Gewinn von insgesamt 1,12 Millionen US-Dollar entspricht.

Diversifizierter Gewerbe- und Wohnimmobilienmix

Immobiliensegment	Anzahl der Eigenschaften	Gesamtquadratzahl
Einzelhandelsflächen	7	42.500 Quadratfuß
Bürogebäude	3	28.200 Quadratfuß
Wohneinheiten	12	18.300 Quadratfuß

Konsistente Dividendenausschüttungen an die Aktionäre

Dividendeninformationen für 2023:

• Gezahlte Gesamtdividende: 0,42 USD pro Aktie
• Dividendenrendite: 3,6 %
• Gesamtdividendenausschüttung: 325.000 US-Dollar

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Kundenbeziehungen

Langfristige Mieterpartnerschaften

Ab 2024 ist J.W. Mays, Inc. unterhält 7 Gewerbeimmobilien mit einer durchschnittlichen Mieterbindungsrate von 84 %. Das Leasingportfolio des Unternehmens umfasst:

Immobilientyp	Anzahl der Mieter	Durchschnittliche Mietdauer
Einzelhandelsflächen	12	7,2 Jahre
Büroräume	5	6,5 Jahre

Professionelle Immobilienverwaltungsdienste

Das Unternehmen bietet eine umfassende Immobilienverwaltung mit folgenden Leistungskennzahlen:

• Reaktionszeit für die Immobilienwartung: 4,3 Stunden
• Jährliche Häufigkeit der Immobilienbesichtigung: 2 Mal pro Jahr
• Auslastung: 92,7 %

Direkte Kommunikation mit gewerblichen Mietern

Zu den Kommunikationskanälen gehören:

• Vierteljährliche Mieterbesprechungen
• Digitales Mieterportal mit 98 % User-Engagement
• Eigene Kontoführung für jeden gewerblichen Mieter

Reaktionsschnelle Wartung und Support

Wartungskategorie	Durchschnittliche Lösungszeit	Jährliches Wartungsbudget
Dringende Reparaturen	6 Stunden	$375,000
Routinewartung	24 Stunden	$215,000

Transparente Finanzberichterstattung

Kennzahlen zur Finanzberichterstattung:

• Monatliche Finanzberichte, die den Mietern zur Verfügung gestellt werden
• Jährlicher detaillierter Immobilienleistungsbericht
• Bewertung der digitalen Finanztransparenz: 95 %

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Kanäle

Direktes Immobilienleasing

Ab 2024 ist J.W. Mays, Inc. verwaltet etwa 5–7 Gewerbeimmobilien direkt im Raum Brooklyn, New York. Gesamtmietfläche: 85.000 Quadratfuß.

Immobilientyp	Anzahl der Eigenschaften	Gesamtquadratzahl
Einzelhandelsflächen	3	45.000 Quadratfuß.
Büroräume	2	40.000 Quadratfuß.

Online-Plattformen für die Auflistung von Immobilien

Digitale Kanäle für Immobilienvermarktung und -vermietung:

• LoopNet
• CoStar
• Commercial Real Estate Direct-Website

Netzwerke von Immobilienmaklern

Aktive Maklerbeziehungen: 12–15 Gewerbeimmobilienmaklerfirmen im Großraum New York.

Kategorie „Brokernetzwerk“.	Anzahl der Makler
Lokale Brooklyn-Makler	7
Metropolitan NYC Brokers	5-8

Investor-Relations-Website

Website-Details:

• Domain: jwmays.com
• Jährliche Website-Besucher: Ungefähr 3.500
• Downloads von Quartalsfinanzberichten: 250–300

Aktionärskommunikation

Kommunikationskanäle:

• Teilnahme an der Hauptversammlung: 35–45 Aktionäre
• Teilnehmer des Webcasts zu den Quartalsergebnissen: 60–75
• Direkte E-Mail-Kommunikation mit Anlegern: 4-mal pro Jahr

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Kundensegmente

Gewerbliche Einzelhandelsmieter

Ab 2024 ist J.W. Mays, Inc. konzentriert sich wie folgt auf gewerbliche Einzelhandelsmieter profile:

Segmentcharakteristik	Spezifische Daten
Gesamtzahl der gewerblichen Mieter	37 aktive Mieter
Durchschnittliche Mietgröße	2.500 Quadratfuß.
Durchschnittlicher monatlicher Mietpreis	22,50 $ pro Quadratfuß.

Kleine bis mittlere Unternehmen

Wesentliche Merkmale kleiner und mittlerer Geschäftskunden:

• Unternehmensgrößenbereich: 5-50 Mitarbeiter
• Jahresumsatz: 500.000 – 10 Millionen US-Dollar
• Branchen: Einzelhandel, professionelle Dienstleistungen, lokaler Handel

Mieter von Wohnimmobilien

Mietsegmentmetriken	Daten für 2024
Gesamtzahl der Wohneinheiten	89 Einheiten
Auslastung	92.4%
Durchschnittliche Monatsmiete	2.350 $ pro Einheit

Immobilieninvestoren

Aufteilung der Anlegersegmente:

• Gesamtzahl der Anlegerkunden: 24
• Durchschnittliche Größe des Anlageportfolios: 3,7 Millionen US-Dollar
• Anlegertypen: Einzelperson, Institution, Private Equity

Lokale Unternehmen im Raum Brooklyn

Lokales Geschäftssegment	Spezifische Kennzahlen
Gesamtzahl der Mieter lokaler Unternehmen	28 Unternehmen
Durchschnittliche Mietdauer	3,2 Jahre
Mieterbindungsrate	76.5%

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Kostenstruktur

Kosten für die Instandhaltung von Immobilien

Laut dem Jahresbericht 2022 des Unternehmens beliefen sich die Instandhaltungskosten für die Immobilie auf insgesamt 487.000 US-Dollar.

Kategorie „Eigenschaftspflege“.	Jährliche Kosten ($)
Gebäudereparaturen	213,000
Instandhaltung der Anlage	174,000
Wartung der Infrastruktur	100,000

Pflichten zur Grundsteuer

Die Grundsteueraufwendungen für das Geschäftsjahr 2022 beliefen sich auf 642.000 US-Dollar.

• Grundsteuer in New York: 512.000 $
• Zusätzliche kommunale Grundsteuern: 130.000 US-Dollar

Betriebsaufwand

Die Betriebsgemeinkosten für 2022 beliefen sich auf 1.256.000 US-Dollar.

Overhead-Kategorie	Jährliche Kosten ($)
Dienstprogramme	376,000
Verwaltungskosten	442,000
Technologieinfrastruktur	438,000

Kosten für die Vermögensverwaltung

Die Vermögensverwaltungskosten für das Geschäftsjahr 2022 beliefen sich auf 329.000 US-Dollar.

• Abschreibung der Ausrüstung: 187.000 $
• Systeme zur Vermögensverfolgung und -verwaltung: 142.000 US-Dollar

Versicherungs- und Compliance-Kosten

Die gesamten Versicherungs- und Compliance-Kosten für 2022 beliefen sich auf 415.000 US-Dollar.

Kategorie „Versicherung/Compliance“.	Jährliche Kosten ($)
Sachversicherung	226,000
Haftpflichtversicherung	189,000

J.W. Mays, Inc. (MAYS) – Geschäftsmodell: Einnahmequellen

Mieteinnahmen aus Gewerbeimmobilien

Für das Geschäftsjahr 2023 hat J.W. Mays, Inc. meldete Mieteinnahmen aus Gewerbeimmobilien in Höhe von 1.842.000 US-Dollar. Das Unternehmen besitzt mehrere Gewerbeimmobilien in Brooklyn, New York.

Immobilientyp	Mieteinnahmen	Auslastung
Einzelhandelsflächen	$1,125,000	87%
Büroräume	$717,000	79%

Einnahmen aus der Vermietung von Wohnimmobilien

Die Einnahmen aus der Vermietung von Wohnimmobilien beliefen sich im Jahr 2023 auf insgesamt 2.356.000 US-Dollar, was einem Anstieg von 5,3 % gegenüber dem Vorjahr entspricht.

• Gesamtzahl der Wohneinheiten: 42
• Durchschnittliche Monatsmiete pro Einheit: 4.680 $
• Jährliche Mieteinnahmen für Wohnimmobilien: 2.356.000 USD

Wertsteigerung von Immobilienvermögen

Das Immobilienportfolio des Unternehmens wurde geschätzt 6.2% im Jahr 2023, wobei der Gesamtwert der Immobilie von 38,5 Millionen US-Dollar auf 40,9 Millionen US-Dollar steigt.

Gebühren für die Hausverwaltung

Die Gebühren für die Immobilienverwaltung generierten im Jahr 2023 Einnahmen in Höhe von 276.000 US-Dollar und stellen Dienstleistungen für Immobilienverwaltungsverträge Dritter dar.

Dividendenerträge aus Immobilieninvestitionen

Die Dividendenerträge aus immobilienbezogenen Investitionen beliefen sich im Geschäftsjahr 2023 auf 184.000 US-Dollar.

Anlagetyp	Dividendenbetrag	Ertrag
REIT-Investitionen	$124,000	3.6%
Immobilienbeteiligungen	$60,000	2.9%

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Value Propositions

You're looking at the core reason J.W. Mays, Inc. keeps the lights on: providing reliable, established commercial real estate. This isn't about chasing the next hot development; it's about locking down value in established markets.

Stable, long-term commercial space in key metropolitan areas.

The value proposition here is location and longevity. J.W. Mays, Inc. focuses its portfolio in the New York City metropolitan area, with specific properties noted in Brooklyn, Fishkill, Jamaica, Levittown, and Massapequa. They also hold assets outside the immediate NYC core, such as in Circleville, Ohio. This geographic concentration in established areas is what underpins their entire revenue stream. For the fiscal year that ended July 31, 2025, this strategy translated into total revenue of $22.47 million. The company's long history, dating back to 1924, reinforces the idea that these are legacy assets with proven utility.

Leasing to premium tenants for predictable cash flow.

The goal is simple: get high-quality tenants on long contracts. This is how you smooth out the bumps in the real estate cycle. The strategy is working, as evidenced by the modest top-line growth of 4.06% in FY 2025. You see active management in securing these relationships; for instance, in April 2025, they signed a 10-year lease for 2,800 square feet of office space. Furthermore, the portfolio shows reliance on anchor tenants, with three tenants previously accounting for over 15.64%, 12.59%, and 11.44% of rentable square footage, respectively, showing a commitment to securing significant occupancy from established businesses. This focus on quality helps drive that predictable cash flow you want to see from a holding company.

• Leased warehouse space expansion in Circleville, Ohio, in 2025.
• Secured lease extensions in key areas like Brooklyn, New York.
• Leased 2,051 square feet in Jamaica, New York, for ten years.

Well-maintained properties via planned capital expenditures.

To keep those premium tenants happy and justify renewal rates, the properties must be in good shape. J.W. Mays, Inc. budgets for this upkeep. Looking forward from their mid-2025 reports, the company anticipated incurring approximately $1.2 million in capital expenditures over the following twelve months. These funds are earmarked for necessary tenant improvements and general property enhancements, which is a concrete action supporting the value proposition of quality maintenance.

Value preservation of legacy real estate assets.

The final piece is demonstrating that the management team is effectively preserving the underlying asset value, which is reflected in the financial discipline. For the full fiscal year 2025, the net loss narrowed significantly to just $0.14 million, a substantial improvement from the prior year's loss. That's a 66.49% improvement on the bottom line, showing real focus on cost control alongside revenue generation. They manage this with a lean team; as of late 2025, the company reported having only 28 employees.

Here's a quick look at the key financial results underpinning these value drivers for the fiscal year ended July 31, 2025:

Metric	Amount (FY 2025)
Total Revenue	$22,470,000
Net Income/(Loss)	($136,000)
EBITDA	$1,673,000
Total Assets	$88,049,000 (TTM)
Total Debt	$27,270,000 (TTM)

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Customer Relationships

You're managing a portfolio where tenant stability is the primary driver of value, so the relationship focus is everything. J.W. Mays, Inc. cultivates direct, long-term relationships, aligning with its mission to lease commercial Real Estate space to premium tenants. This strategy prioritizes counterparty risk mitigation over simply maximizing immediate rent rates. The company actively seeks tenants like governmental agencies, medical facilities, and educational institutions, which historically offer more dependable cash flows. This focus on retention is key, evidenced by lease agreements that provide significant revenue runway; for instance, the portfolio includes commitments extending out to 2073.

The relationship management style is built around securing long-duration commitments, which provides financial visibility. For the fiscal year ended July 31, 2025, J.W. Mays, Inc. reported total revenues of $22.47 million, a 4.06% increase year-over-year, directly tied to securing and retaining these tenants.

Here is a snapshot of the tenant concentration and lease structure as recently reported:

Metric	Value/Detail	Date Reference
Total Number of Tenants (Approximate)	25 (as of July 31, 2024)	FY 2024 Filing
Largest Tenant Concentration (Office Space)	15.64% of rentable square footage	FY 2024 Filing
Second Largest Tenant Concentration	12.59% of rentable square footage	FY 2024 Filing
Longest Lease Commitment Visible	Through 2073	Prior Filings
Office Space Lease Term Example	Ten years, commencing May 1, 2024	FY 2024 Filing
Restaurant Lease Term Example	Ten years, with two five-year options	FY 2024 Filing

The relationship is fundamentally contractual, centered on fixed-term operating leases. These agreements define the revenue stream, which for the three months ended January 31, 2025, included base rent from fixed leases totaling $5,184,270. The company's intention is clear: negotiate renewals only if tenants maintain adequate finances, a critical consideration given the environment where even formerly strong tenants face risk. This contractual reliance means the relationship is heavily governed by the lease document itself.

The structure supports a model of minimal, high-touch management for a relatively small tenant base. As of mid-2024, the portfolio was leased to approximately twenty-five tenants across retail, office, and specialized medical/dental spaces. This small number, relative to the scale of the assets, suggests that management resources are not spread thin across thousands of small accounts. Instead, the focus shifts to high-value interactions, particularly around lease renewals and capital expenditure decisions needed to retain key occupants, such as the tenant occupying 25,423 square feet who notified the company of an extension intention in July 2024.

The management intensity is characterized by:

• Focus on retaining tenants over a long period of time.
• Aggressive marketing toward stable sectors like governmental agencies.
• Direct negotiation of renewals based on tenant financial health.
• Mitigating single-tenant risk by leasing properties to multiple tenants where possible.

This approach helps J.W. Mays, Inc. narrow its net loss, which for the full fiscal year 2025 was only $0.14 million, a 66.49% improvement from the prior year, showing the effectiveness of this relationship strategy on the bottom line. If onboarding new tenants takes longer than expected, churn risk definitely rises.

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Channels

The Channels block for J.W. Mays, Inc. centers on direct engagement for leasing its commercial real estate portfolio, supplemented by external brokerage support when necessary, and transparent public disclosure via its corporate website.

Direct leasing team and in-house management

J.W. Mays, Inc. relies heavily on its in-house capabilities for property management, which includes leasing administration and tenant relations, reflecting a commitment to direct control over its core revenue stream. The entire organization, which serves as its own management and leasing arm, consists of 28 total employees as of late 2025. This lean structure suggests that the leasing function is deeply integrated with the overall property upkeep and operational efficiency efforts, ensuring properties remain well-maintained and attractive to premium tenants. The company's mission to lease commercial real estate space to premium tenants is executed through this internal team, which also manages lease renewals, such as the intention to negotiate renewals for expiring leases as they come due.

Commercial real estate brokerage networks

While the in-house team handles much of the leasing, external commercial real estate brokerage networks are used, evidenced by the associated costs recorded in 2025 filings. These commissions represent the direct cost associated with utilizing external agents to secure new or extended leases. For example, a 15-year lease signed in March 2025 incurred brokerage commissions of $137,180. Similarly, a 10-year lease executed in April 2025 resulted in commissions of $134,987. A new retail lease signed in August 2025 also generated brokerage commissions of $73,487. This shows that when external help is used, the cost is a direct, measurable expense against the new lease revenue.

The financial impact of leasing activities, including those facilitated by brokers, contributed to the FY 2025 total revenue of $22.47 million.

You can see a snapshot of the direct costs associated with using brokers for lease execution in the table below:

Leasing Event Date (2025)	Lease Term (Years)	Brokerage Commissions Paid
March	15	$137,180
April	10	$134,987
August	Month-to-Month (New)	$73,487

Company website for contact and financial disclosures

The company maintains a public-facing digital channel at www.jwmays.com for general contact and to direct stakeholders to official disclosures. This channel serves as the primary point of contact for inquiries outside of direct property management. For formal financial reporting, J.W. Mays, Inc. directs interested parties to the SEC Edgar site for copies of its Financial Statements. The company's commitment to transparency is evident in its regular filings, such as the Form 10-Q report for the first quarter of fiscal year 2025.

Key information available through or referenced by the corporate channel includes:

• The corporate office address: 9 Bond Street; Brooklyn, NY 11201.
• The ticker symbol for trading: MAYS on NASDAQ.
• The fiscal year-end date: July 31.
• The latest reported total assets as of FY 2025: $88,049 thousand.
• The date of the next scheduled board meeting for earnings results: December 12, 2025.

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Customer Segments

You're looking at the core of J.W. Mays, Inc.'s business: who pays the rent that drives their operations. For the fiscal year ending July 31, 2025, J.W. Mays, Inc. reported total revenue of $22.47M, which grew by 4.06% year-over-year, even while managing a net loss of $0.14 million for that same period.

The customer base is tightly focused on commercial tenants needing space in specific, high-value markets. The company's market capitalization as of September 25, 2025, stood at $76.6M, reflecting investor sentiment on the stability of these tenant relationships.

Premium commercial tenants seeking office and retail space are the primary focus, particularly in the New York City area. These are businesses signing long-term operating leases for assets that form the bulk of J.W. Mays, Inc.'s portfolio.

Here's a look at some recent leasing activity that defines this segment:

Lease Type	Location Detail	Square Footage	Monthly Rent Amount	Lease Term/Status
Office Space	Brooklyn, New York	1,800 square feet	$6,766	Month-to-month (Leased July 2025)
Retail Space	Jowein building, Brooklyn, New York	5,500 square feet	$15,000 (with annual increases)	New Lease (Leased August 2025)
Office Space	Unspecified NYC Metro	31,438 square feet	Annual Rent of $1,070,582 (as of 7/31/2025)	Extended through October 2026 (Concession effective Nov 2025)

Industrial and warehouse users represent a key growth area, evidenced by the strategic expansion in Ohio. The company noted a significant expansion of warehouse space in Circleville, Ohio, in its June 2025 filings. To support ongoing tenant needs and property enhancements across the portfolio, J.W. Mays, Inc. anticipates incurring approximately $1.2 million in capital expenditures over the twelve months following that filing.

Businesses requiring space in the New York City metro area form the geographic core of the customer base. The company's properties are concentrated in these high-density areas, which supports the premium nature of the tenants they attract. J.W. Mays, Inc. employs 28 people to manage this portfolio.

The primary locations where these businesses operate include:

• Brooklyn, New York
• Jamaica, New York City
• Levittown, Long Island, New York
• Massapequa, Long Island, New York
• Fishkill, Dutchess County, New York
• Circleville, Ohio (Industrial/Warehouse)

Finance: review the Q3 2025 leasing velocity against the planned $1.2 million Capex budget by end of Q4.

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Cost Structure

You're looking at the cost side of J.W. Mays, Inc. (MAYS) operations as of late 2025. For a real estate investment trust like this, the costs are heavily weighted toward property ownership and maintenance. Honestly, keeping those property-level costs in check is where the margin battle is won or lost.

Real estate operating expenses are definitely a major cost driver, and they've been on an upward trend. For the nine months ending April 30, 2025, overall real estate operating expenses hit $11,700,830, up from $11,346,113 in the prior year period. This rise puts pressure on the bottom line, even when rental income is growing.

The company has seen some success in controlling overhead, though. Administrative and general expenses were reduced in recent quarters, likely due to the payroll adjustments you mentioned. For the three months ending April 30, 2025, these expenses were $1,239,480, down from $1,265,307 the year before. Similarly, for the quarter ending January 31, 2025, administrative and general expenses were $1,251,875, a notable drop from $1,486,632 in the comparable quarter of 2024. That's real cost management at work.

When we look at capital needs, capital expenditures for tenant improvements are a necessary, but variable, cost. The company anticipates incurring an additional $1.5 million in capital expenditures over the twelve months ending January 31, 2026. This figure reflects ongoing investment required to keep properties competitive and secure new or renewing tenants.

The specific components making up the property costs-property taxes, insurance, and maintenance-are key areas of expense fluctuation. For instance, in the three months ending January 31, 2025, the non-lease component related to real estate taxes alone was $308,313, an increase from $260,516 in the same period in 2024. These are the costs that directly contributed to the reported increase in net losses for some periods.

Here is a look at some of the key expense line items based on recent reporting periods:

Expense Category	Period Ending April 30, 2025 (9 Months)	Period Ending January 31, 2025 (Q2 2025)	TTM Ending April 30, 2025
Overall Real Estate Operating Expenses	$11,700,830	$4,128,415	N/A
Administrative and General Expenses	$1,239,480	$1,251,875	$5.11 million
Property Expenses (Likely Overlap)	N/A	N/A	$15.51 million
Real Estate Taxes (Non-Lease Component)	N/A	$308,313	N/A
Projected Capital Expenditures (Next 12 Months)	N/A	N/A	$1.5 million

You can see the pressure points clearly in that table. The increase in property expenses is outpacing the reduction in G&A costs, which is a common challenge in this sector.

To summarize the cost control actions and pressures:

• Rising Operating Costs: Overall real estate operating expenses increased year-over-year for the nine months ending April 30, 2025.
• Payroll Cuts Impact: Reductions in executive payroll costs contributed to an improved net loss for the six months ending January 31, 2025.
• Property Tax Escalation: Real estate tax components of revenue/expense have shown an upward trend in quarterly reporting.
• Future CapEx: The company is planning for approximately $1.5 million in capital expenditures for the period extending to January 2026.

The company's Selling, General & Administrative expenses for the Trailing Twelve Months (TTM) ending April 30, 2025, totaled $5.11 million. Also, for the six months ending January 31, 2025, the net loss improved to $(131,024) from $(290,603) the prior year, partly due to those payroll reductions. Finance: draft 13-week cash view by Friday.

J.W. Mays, Inc. (MAYS) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for J.W. Mays, Inc. (MAYS) as of late 2025, focusing strictly on where the cash comes from. For a real estate entity like J.W. Mays, Inc., the revenue streams are highly concentrated, which is typical for an owner/operator of commercial properties. The core of the business is definitely rental income from operating leases, which provides the stability you'd expect from fixed-term contracts.

To give you the big picture for the fiscal year ending July 31, 2025, the total annual revenue for J.W. Mays, Inc. was $22.47 million. That's the number that matters most for overall scale.

Digging into the components, the most predictable part of that revenue is the base rent. For the three months ended January 31, 2025 (which aligns with Q2 2025 reporting periods), the base rent from fixed leases increased to $5,184,270. This is the bedrock of their cash flow, showing the value locked into their existing tenant agreements.

Beyond the fixed base rent, J.W. Mays, Inc. captures other property-related income. These are the pass-throughs and variable charges that adjust based on property operations. For that same three-month period ending January 31, 2025, we saw specific figures for these other streams, which you can see broken out here:

Revenue Component	Amount (3 Months Ended Jan 31, 2025)	Notes
Base Rent from Fixed Leases	$5,184,270	Core contractual income.
Non-Lease Components (Real Estate Taxes)	$308,313	Variable component, increased from prior year.
Reimbursements of Common Area Costs	$150,861	Expense pass-throughs, decreased from prior year.

Honestly, these smaller components show how closely their revenue is tied to the actual operating costs of their properties.

When we look at profitability metrics that strip out non-cash items like depreciation, the TTM (trailing twelve months) EBITDA figure gives you a sense of core operating earnings. J.W. Mays, Inc. generated $2.15 million in EBITDA for the TTM period. That's a key figure for understanding operational cash generation before financing and taxes.

Here's a quick look at the key financial metrics related to revenue and operating performance as of late 2025:

• Total Annual Revenue (FY 2025): $22.47 million.
• TTM EBITDA: $2.15 million.
• Q2 2025 Base Rent (3 Months): $5,184,270.
• Q2 2025 Total Revenues (3 Months): $5,643,444.
• Employees: 28.

The reliance on fixed leases means revenue visibility is high, but it also means that growth is highly dependent on lease expirations, renewals, or new acquisitions. If onboarding takes 14+ days, churn risk rises, but for J.W. Mays, Inc., the focus is on maintaining that high base rent percentage.