Posted by T on July 02, 2002 at 24:37:53:
A couple days ago I called an out of town homeowner to see if she had an interest in selling her vacant house. She mentioned to me that in the past she thought about selling it to someone that was going to turn the land into a commercial lot, but decided to just rent the property out instead. This property is right next to a nice gas station, & on a semi busy road. I pulled the comps, & they range from 71k to 119k. The tax assessed value of this house is 100k, & is larger in square footage then all of the comps. My main question here is, can someone usually get more moolah if they sell commercially as opposed to residential? Up to this point my main focus, & study has been on residential properties. Thank you all for your assistance, & input with this situation/question.
T