Posted by ray@lcorn on July 15, 2003 at 12:06:52:
Jim,
I’m still not sure what your game plan is with this property… but I assume there is an atraction about the property that got your interest.
In an area where redevelopment is occurring I would make sure to check the zoning ordinance to evaluate the highest possible use for the property.
ray
advice please, on purchasing a garage - Posted by Jim (MD)
Posted by Jim (MD) on July 14, 2003 at 15:40:23:
I have been looking at purchasing a newly constructed garage in the middle of a city. The building stands on a lot where a couple of rowhouses once stood in a residental neighborhood. I have been investing in RE for 20+ years, but never purchased a property of this type. Does anyone have any specific advice as to what to look out for, not only in the property, but also in the contract? Thanks in advance.
Re: advice please, on purchasing a garage - Posted by ray@lcorn
Posted by ray@lcorn on July 14, 2003 at 20:24:15:
Jim,
Are you talking about a parking garage? Or maybe an automotive garage leased to an operator?
Is the neighborhood in the midst of redevelopment?
ray
Re: advice please, on purchasing a garage - Posted by Jim (MD)
Posted by Jim (MD) on July 14, 2003 at 23:19:42:
It is a cinder block building which can hold about four cars. It also has a small office and could be used for a variety of businesses or storage.
The neighborhood is pretty much intact; no boarded up or vacant houses or buildings. However, some old factories have been torn down and are being replaced with shopping centers.