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Post by batman on Dec 27, 2017 12:33:20 GMT -6
I own a 13,000 sq ft commercial building free and clear in Big lake. It is zoned R1 or industrial. About $300,000 worth of power is wired into the building. Its on the market for $400K. The city wants it to be retail etc. It its currently empty and the zoning says it can stay R1 as is 'nonconforming' unless it is used otherwise or is empty over a year.
Any history I should be aware of. Stories similar/forecasts/pronostication/c course of action. I have a meeting tonite at 5pm. Would not mind cashing out.
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Post by wiscwhip on Dec 27, 2017 12:37:09 GMT -6
What happens after the 1 year vacancy?
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Post by batman on Dec 27, 2017 12:41:21 GMT -6
What happens after the 1 year vacancy? They strip my R1 zoning and I lose the ability to sell or lease the building to somebody who wants to run big mfg machinery. Building could only be used for office, retail, liquor store, dance studio etc. |
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Post by wiscwhip on Dec 27, 2017 12:43:53 GMT -6
Yeah....time to dump that is ASAP and let the next owner worry about it. Unless of course you want to be that guy who remodels the whole thing and leases out retail space?
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Post by sd51555 on Dec 27, 2017 12:56:31 GMT -6
Yeah....time to dump that is ASAP and let the next owner worry about it. Unless of course you want to be that guy who remodels the whole thing and leases out retail space?Make sure it's Amazon-proof. |
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Post by batman on Dec 27, 2017 12:57:22 GMT -6
Was thinking about telling them I had a solid candidate looking to sign a 5 year lease but would rather sell the building and see if the city would buy it from me?
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Post by kl9 on Dec 27, 2017 12:58:49 GMT -6
You need to lease it first then sell to an investor if you want it to remain R1
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Post by batman on Dec 27, 2017 13:03:15 GMT -6
You need to lease it first then sell to an investor if you want it to remain R1 but if the city really wanted it out of R1 could they find $400k to buy it from me? (provided MO keeps his damned flatbed trailer out of the area?) |
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Post by kl9 on Dec 27, 2017 13:07:41 GMT -6
If it is vacant now why would they splurg the cash if they only have to wait a year and get it at a deep discount?
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Post by MoBuckChaser on Dec 28, 2017 8:41:16 GMT -6
Get someone in there building drones......
Hottest market coming!
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