There's prob no comps on that road in terms of commercial. My property lies in between the service road from an interstate and a state highway with no commercial props. My prop is directly east of the new walmart ( which will be along the frontage road). So basically there's the interstate, the walmart will be built just east of the interstate and my prop is directly east of the walmart. All that land just east of the Walmart is residential ( which will be behind the walmart)

Two of our family friends sold the prop to walmart and let's just say they received absolute top dollar. No negotiating at all. Walmart came in and offered 7 percent over asking price ( one land owner already had prop for sale and when the other heard walmart was looking they also put prop up)

I just think i won't be as fortunate bc my prop is east of all this.

This post was edited on 6/5/14 at 11:23 pm

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Posted by trillhog

Elite Membership

Member since Jul 2011

19407 posts

Posted on 6/5/14 at 11:22 pm to roguetiger15

I'd pull the tax records to see what walmart paid, it's not unusual to have a quarter miles skip from a wal-mart if you have your parcel ready to roll, those corporate guys don't like a lot if hassle especially in a rural town. That being said they all have formulas on where they want to be so good luck!

Owning land is the hardest commercial re to have but it pays off good when it hits, if I had unlimited money all I would do is buy up land, why usually only the big players are in it, shite will drain you big time.

quote:
I just think i won't be as fortunate bc my prop is east of all this.

Don't say this, you just have to work them phones , and recruit somebody to come there.

This post was edited on 6/5/14 at 11:25 pm

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Posted by stout

Smoking Crack with Hunter Biden

Member since Sep 2006

167505 posts

Posted on 6/5/14 at 11:24 pm to roguetiger15

I wouldn't tie my land up with anything residential if you think it could be within the next few years that it may sell.

You may actually discourage buyers as the mess of evicting the mobile homes could be more than what a company may want to deal with.

You could cost yourself a deal or at the very least getting the best deal possible for that land.

Also, once you stick residential units on it you may have a harder time getting it rezoned.

ETA: If you want to put a small investment on the land while you are trying to sell it stick a billboard on it. Another uncle of mine has a few including one digital one and does really well with them.

That close to the interstate you would have no problem renting it out.

This post was edited on 6/5/14 at 11:28 pm

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