Just outside of town, hell of a deal. So far people here have suggested a car lot, a wholesale scratch and dent appliance warehouse, flooring store. Would love input and ideas!
Depending what state it is in. You could do easy cash flow business like storage, car storage, etc. Or shooting range if you want something more involved. Could be good with local law enforcement to setup as a service. Is it a concrete tilt up or corrugated steel sheets?
Real estate?
Steel Warehouse and Fabrication Center. What City are you in?
Really depends on the condition and location of the building. At 5ksquare feet, I’d probably suggest trying to divide up into 3 lots because the number of tenants for that size is a bigger pool, and if you lose one, you’re not stuck with an empty building.
flophouse
Yeah gambling and whores. It’s what we all want.
So I have to go somewhere else to buy drugs?
Someone at the poker tables normally have drung
By somewhere else do ya just mean sketchy guy number 14 at the ding dings cus he got ya
Secret lair.
OP makes it sound like he just stumbled into a RE purchase like he found it in a sale bin at the fle market.
Maybe it went to auction and nobody else showed up because it was Thanksgiving so he bought every property for a penny each.
Maybe people aren’t stupid enough to have an auction on Thanksgiving for your exact reason.
If it’s a govt seizure. They don’t care
Rent it out to someone who has a business already.
Take those profits to start a business.
Consider this. You start business here and fail. Now you lose the building and business. You have someone rent the building from you and start a business. The business fails, well you still own a building that pays you every month. So go start another business.
Do not listen to this guy. This is what i call the Green personality type… goes for security and doesnt dare to start his own business.
However I can not state that, since i do not know that he has a business or not… the same that this guy doesnt know your financial situation. If you got this building cash and have a large capital available, you should 100% start a business. Now if this is all debt. Then you may want to rent this out asap.
You can use this as a bechmark solution because you can get an idea about the returns very quickly and accurately.
Then you can judge other options by comparing them with this one.
This is the way
I second this .
Ok to lease it out, but with so much commercial space presently available tenant business may want improvements. Beware cost of tenant improvements.
Micro is not macro.
Macro shows there’s a ton of vacant space. Micro may beg to differ. It’s like saying there is no housing available, then you go to small town USA and every 3rd house is abandoned because there’s no one to buy them.
Hey the whole world is the same is a common misconception . You are spot on though. With some caution, some very high growth areas are 3rd and 4th home places. High traffic doesn’t necessarily contribute traditional metro businesses.
Triple net lease that sucker.
I like the way you roll.
Anybody that actually signs a NNN is a fcuking idiot and their business should fail because of it.
Do you prefer if taxes and insurance are included in a higher base rent instead of a lower base rent with taxes and insurance billed separately ?
Think most people prefer an all in price hence the hate for NNN
Triples is best, triples makes it safe
Triple is the way
These guys have the answer
What’s that?
Triple net is where the tenant not only pays rent, but also pays for maintenance and taxes on the property.
Furnace breaks? Roof leaks? Pipes freeze?
Are all the tenant’s problem, not the landlords.
Property taxes increase? Tenant’s problem. At least until the tenant moves out, then it becomes the landlords problem until they can find another tenant.
These are generally true of a triple net lease, but can be negotiated to just about any arrangement in a commercial lease.
A lot of NNN leases the owner will still pay for the roof and other structural repairs. The building is still the owner’s asset and tenants have no motivation to keep the property value as high as possible.
Sure, but sometimes both entities have the same owner and are separated for liability purposes.
It all depends on the two (or more) business entities and what they are willing to negotiate.
Triple all day.
Hot ticket triple nets. Dollar stores, vet clinics, urgent care, logistics warehouses for construction companies.
What is their business model is renting out the space to another business?
Turtles all the way down…
I like the way you think
Chop shop
Where at?
Art collective. Indoor sports. Botanical garden inside where you can also drink and eat. Skatepark. Storage.
Don’t start a business there rent this building out to some one else and start a lean business in which you can invest the money from the rented building and you can grow it until the business is self sustaining and then you can shift it to this building.
You should do some market research and see what’s in demand in your area. For example, in my city, self storage is very in demand. Smaller businesses charge an average of 2-3$/month per square foot for small storage barely big enough to fit a small car, and that’s a good 30 minutes away from the city. If capital is low, you can also consider leasing the space to other business for a monthly fee. If you have the resources, you can start something more complex, like a fulfillment center. If you’re into entertainment, indoor trampoline parks seem like a good business, they’re always packed around here. So many thing you can do with a space like that, just make sure to do your homework.
Strip club in a strip mall
Do a store that’s a chain- like Dollar Store, or McDonalds-already established- the name is known. Pretty hard to fail there. If you don’t like those ideas- then a medical Marijuana farm/process and store. Depending how big the property is- maybe just the store and /or a distribution center.
Good exploit my friend. Your options are endless. Do you have a hobby, interest, passion or preference you always wanted to pursue?