In partnership with
Blu Dot surpasses 2,000% ROAS with self-serve CTV ads
Home furniture brand Blu Dot blew up on CTV with help from Roku Ads Manager. Here’s how:
After a test campaign reached 211,000 households and achieved 1,010% ROAS, the brand went all in to promote its annual sales event. It removed age and income constraints to expand reach and shifted budget to custom audiences and retargeting, where intent was strongest.
The results speak for themselves. As Blu Dot increased their investment by 10x, ROAS jumped to 2,308% and more page-view conversions surpassed 50,000.
“For CTV campaigns, Roku has been a top performer,” said Claire Folkestad, Paid Media Strategist, Blu Dot. “Comping to our other platforms, we have seen really strong ROAS… and highly efficient CPMs, lower than any other CTV partner we've worked with.”
Using Roku Ads Manager, the campaign moved from a pilot to a permanent performance engine for the brand.
HUGHES COMMERCIAL
COMMERCIAL REAL ESTATE INTELLIGENCE FOR INVESTORS, OWNERS & OPERATORS
Market perspective. Practical tools. Better decisions.
THE BIG PICTURE
Some of the most interesting real estate opportunities may not look like traditional acquisitions. They may be hiding in land a property owner already controls.
A leftover parcel beside a retail center. An oversized parking area. A strip of land that no longer serves the original site plan. These spaces can be easy to overlook because they do not fit neatly into the property's current use. But under the right conditions, underutilized land may support a complementary use, create a new income stream, or improve the productivity of an existing real estate asset.
The point is not that every extra acre should be developed. It is that owners and investors can ask a better question: Is this property being used to its full economic potential?
MARKET INTELLIGENCE
Four questions that can reveal whether a parcel deserves a second look
1. Does the site solve a real local problem? Look for a demonstrated need among nearby businesses and users—not just a concept that looks attractive on paper. Talk to potential users, local brokers, and businesses that may be outgrowing their current space.
2. Can the site physically support another use? Check access, visibility, circulation, setbacks, utilities, drainage, stormwater, environmental history, and the relationship to neighboring uses. A parcel that looks available on an aerial image may be constrained once you examine the details.
3. Is the proposed use allowed? Zoning, permitted-use rules, parking requirements, fire access, building codes, and local approvals can determine whether an idea is viable. Treat approvals as a diligence item—not an assumption.
4. Who captures the value? The landowner might retain ownership and collect ground rent, participate in project economics, sell the parcel, or partner with an operator. The right structure depends on control, capital, risk tolerance, tax considerations, and who will carry the development and operating responsibilities.
Key takeaway: An attractive concept is only the starting point. The opportunity becomes investable when local demand, site feasibility, approvals, project costs, and the ownership structure can be evaluated together.
THE DEAL DESK
Run a quick “second-use” screen before commissioning a full study.
Demand: Identify the likely user and the problem the space would solve. Gather real conversations, comparable offerings, and evidence of willingness to pay.
Site: Map the usable area—not just the gross acreage. Note access points, easements, utilities, setbacks, drainage, and any conflict with the existing property.
Economics: Build a preliminary range for site work, construction, soft costs, contingency, ongoing maintenance, and lease-up. Test conservative rents and a slower stabilization period; do not let a single optimistic scenario carry the case.
Execution: Decide who funds the work, secures approvals, builds the project, leases the space, manages tenants, and absorbs cost overruns. If those responsibilities are unclear, the deal structure is not ready.
Decision: Move forward only when the next step is clear and proportionate to the evidence. That next step may be a zoning conversation or concept plan—not an immediate commitment to build.
THE OPERATOR'S PLAYBOOK
Use this five-step workflow to evaluate an overlooked parcel without prematurely committing to development:
Step 1 — Identify: Mark the underused area and document how it is used today.
Step 2 — Validate demand: Speak with likely users and local market participants before designing a solution.
Step 3 — Test feasibility: Ask the local planning department about zoning and approval requirements, then identify technical constraints that could change the site plan.
Step 4 — Compare structures: Consider ground lease, sale, joint venture, or an operator-led development arrangement. Compare control, capital exposure, income potential, and risk—not just headline returns.
Step 5 — Set a decision gate: Write down the facts required to proceed, who will obtain them, the budget for the next phase, and the date the decision will be revisited.
The discipline is simple: pay for the next layer of diligence only when the previous layer gives you a credible reason to continue.
TOOLS & RESOURCES
If you are screening an acquisition, repositioning a property, or assessing a development concept, use a repeatable framework to keep assumptions visible and next steps accountable.
Free resource: CRE Deal Screening & Due Diligence Toolkit
Get the free toolkit to organize initial questions before committing to deeper diligence.
BUILD YOUR CRE BUSINESS
Hughes Commercial is expanding beyond deal announcements into a practical resource for people who work across commercial real estate: brokers building a business, owners looking to improve asset performance, investors evaluating opportunities, and operators solving real estate problems for local businesses.
Our focus is on useful frameworks, real-world operating lessons, tools you can apply, and connections that help readers make better decisions. If there is a challenge you would like us to unpack—or a property, business model, or CRE topic worth examining—tell us what would be useful.
ONE QUESTION TO CONSIDER
Do you own, represent, or know of a commercial property with land or space that is not earning its full potential? What is the biggest obstacle: finding demand, understanding zoning, funding improvements, or finding the right operating partner?
Reply with your perspective. Future editions will prioritize practical questions and ideas from readers working in the market.
CONTACT HUGHES COMMERCIAL
Have a question, partnership idea, or topic you would like us to cover? Use the Contact Us page or email [email protected].
Hughes Commercial
Commercial real estate intelligence for investors, owners, operators, and ambitious CRE professionals.
Educational information only; not investment, legal, tax, or lending advice. Development feasibility depends on local market conditions, zoning, permitting, engineering, and other project-specific factors. Consult qualified professionals before making decisions.