From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.


General Info

BiggerPockets Q&A, Site Questions, & Announcements

1522 topics, 14436 posts — Last Post 04/23/14, 11:39AM

BiggerPockets Exclusive PRO Area

118 topics, 844 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10968 topics, 86438 posts — Last Post 04/23/14, 12:15PM

Real Estate Success Stories

397 topics, 6188 posts — Last Post 04/23/14, 07:49AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5987 topics, 47183 posts — Last Post 04/23/14, 12:16PM


649 topics, 5856 posts — Last Post 04/23/14, 10:42AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/21/14, 03:59PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

658 topics, 6316 posts — Last Post 04/23/14, 09:50AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3704 topics, 29699 posts — Last Post 04/23/14, 11:00AM

Real Estate Guru, Book & Course Reviews and Discussions

1139 topics, 11596 posts — Last Post 04/23/14, 11:28AM

Ask About A Real Estate Company

743 topics, 7344 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies


5630 topics, 43907 posts — Last Post 04/23/14, 11:53AM

Rehabbing and House Flipping

3349 topics, 31094 posts — Last Post 04/23/14, 11:14AM

Real Estate Development & New Home Construction

554 topics, 4694 posts — Last Post 04/22/14, 09:17PM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

867 topics, 6692 posts — Last Post 04/22/14, 08:22PM

Rent to Own a.k.a. Lease Purchase, Lease Options

698 topics, 4921 posts — Last Post 04/23/14, 11:51AM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3102 posts — Last Post 04/22/14, 01:39PM


1217 topics, 10595 posts — Last Post 04/23/14, 09:23AM

Short Sales

1538 topics, 13139 posts — Last Post 04/22/14, 01:38PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7243 topics, 71094 posts — Last Post 04/23/14, 12:13PM

Mobile Homes & Mobile Home Park Investing

639 topics, 5144 posts — Last Post 04/23/14, 07:57AM

Investor Basics

Starting Out

7725 topics, 60648 posts — Last Post 04/23/14, 11:42AM

Investor Psychology

431 topics, 6107 posts — Last Post 04/20/14, 06:04AM

General Real Estate Investing

4727 topics, 37314 posts — Last Post 04/23/14, 12:12PM

Real Estate Investor Marketing

1737 topics, 14144 posts — Last Post 04/23/14, 12:07PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1412 topics, 9004 posts — Last Post 04/23/14, 08:50AM

Multi-Family and Apartment Investing

1123 topics, 9362 posts — Last Post 04/23/14, 11:59AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

644 topics, 4910 posts — Last Post 04/23/14, 10:40AM

Business Basics

Goals, Business Plans & Entities

832 topics, 7571 posts — Last Post 04/23/14, 09:48AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2803 topics, 20130 posts — Last Post 04/23/14, 11:48AM

Property Insurance

310 topics, 2055 posts — Last Post 04/22/14, 07:38AM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2853 topics, 19842 posts — Last Post 04/23/14, 11:55AM

Creative Real Estate Financing

1217 topics, 8845 posts — Last Post 04/23/14, 09:39AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1217 topics, 8024 posts — Last Post 04/23/14, 08:23AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1929 posts — Last Post 04/22/14, 11:03AM


269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2012 topics, 11723 posts — Last Post 04/23/14, 12:05PM

Americans & International Real Estate

162 topics, 568 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

65 topics, 439 posts — Last Post 04/22/14, 09:27AM


Real Estate Marketplace

Real Estate Marketplace

15077 topics, 54100 posts — Last Post 04/23/14, 11:42AM

Real Estate Events and Happenings

167 topics, 2590 posts — Last Post 04/23/14, 09:12AM


Off Topic


2907 topics, 32441 posts — Last Post 04/23/14, 11:24AM

Housing News & Real Estate Market

920 topics, 8390 posts — Last Post 04/23/14, 11:47AM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

Forums » Commercial Real Estate Investing Forum » Creative ideas for 7 Acre commercial land in Dayton Ohio

Creative ideas for 7 Acre commercial land in Dayton Ohio

24 posts by 12 users


Real Estate Investor · Fort Wayne, Indiana

I unfortunately have 7 acres of commercial land in Dayon OH. I received this in lieu of cash as part of a bankruptcy settlement.

I will start with the assumption that outside of giving this land away, I probably will not have anyone interested in purchasing this property for some time.

My holding costs are about $1500-$2000 per year between the property taxes and keeping the grass mowed.

So, I am looking for some BP creative ideas to lease the land to at least cover the holding costs.

Thanks in advance for any help.


Real Estate Investor · North Dallas, Texas

Could you secure a portion of the the area and lease out storage space for RV's, Boats etc?

Landlord · Seattle, Washington

I would definitely check into zoning and how the land could currently be used. That may help guide you in finding some creative uses for the land.

Real Estate Investor

I would look into what Kevin said. Think about throwing an 8ft tall fence up and renting it out for storage of vehicles and boats. A lot of places, like where I live will not allow you to keep a boat, rv, or trailor on your driveway.

You can create quite a bit of positive cash flow if you go about this right. In fact, when it's all said and done you might just end up hanging on to the land : )

Real Estate Lender · Fort Pierce, Florida

Billboard? Check regs.

Real Estate Investor · Audubon, Pennsylvania

As mentioned by a couple of other prior posts here, storage (self service) is an way to offset those tax bills with some revenue until a better use comes along.

The billboard idea could work, if near a major road and the zoning allows for that use.

Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183

SFR Investor · Wheat Ridge, Colorado

Can you grow anything on it? That might change the taxes if you get an agricultural zoning. If its possible, you might find someone who would lease it from you to grow something. That's plenty of land for a 'you pick em' strawberry patch.

Jon Holdman, Flying Phoenix LLC

Real Estate Investor · North Dallas, Texas

Along the lines of what Jon said, not real sure what grows in that area, but if you could do Christmas Trees or Pumpkins, those are a couple things that would be seasonal and pull in some good cash.

Real Estate Investor · Fort Wayne, Indiana

Thanks everyone for your quick response.

1. The land is just west of 725 Lilac Ave in Dayton.

2. I live almost 3 hrs away so I am trying to find something that is as hands off as possible.

3. The land is surrounded by residential areas so Billboards are not a workable solution for this land.

4. I know that it is zoned "commercial", how do I determine if I can let a farmer grow crops there or possibly set up a storage facility?

Optimally, I would find someone that would want to lease the land and set up some type of "business" so that I do not have an issue 3 hrs away.

Thanks again for the assistance.

Real Estate Lender · Fort Pierce, Florida

Cell phone tower? May have more opposition from locals than a billboard.

Landlord · Seattle, Washington

There are often a number of commercial zoning designations in a county. It would be unusual that zoning would just allow any type of commercial activity.

Not knowing to much about the location it might be possible to use the land for a farmers market / flea market.

You may be able to throw up an inexpensive metal building that could be leased for storage, construction, work shop.

Is their much traffic? Is the land near a populated area? What might be useful to the residential community?

There are lots of reasonable priced ways to make use of the property, but you need to do what kinds of activities would be approved.

Real Estate Investor · Columbus, Ohio

If it is in residential, and in the city limits, not likely you can grow crops on it. But if it is zoned commercial you could probably do a ground lease for maybe an assisted living facility or something like that.

SFR Investor · Orange County, California

Ok, I'm looking at an aerial photo of the land right now (Man, I love Google Earth!).

I don't think a billboard will do any good as the only people around to see it would be the residents on Longvale and Becker Drives (please let me know if I'm looking at the wrong spot), and they probably wouldn't appreciate the view. The adjacent Mutual Tool Plant looks like they have plenty of space themselves, so they're probably not interested in leasing any of your land. A cell tower may be an option, but is one needed in that area? You can probably locate it far enough away from the homes and disguise it as a tree to overcome objections.

How is the land accessed? Do you own the strip of land that runs along the north edge of the tool plant connecting Lilac Ave. to the lot? I like the idea of RV and boat storage. It's fairly hands off and you don't even need to pave anything if the ground is firm enough. When I used to store my boat trailer in a dirt lot, I simply brought a few pavers along with me to park the trailer on, keeping the wheels off the dirt. You should erect a chain link fence around the area like previously suggested and use a "daisy chain" for the gate so any of your customers can access their property at their convenience (make sure you have your OWN lock in the chain).

One other idea. Not sure if there is a market for this in that area, but many people will pay to have a "ghost" address, i.e., an address they can receive mail at without disclosing their residence, place of employment, etc. Check the legalities since you may be regarded as a commercial mail receiving agency (CTMA), but the overhead would be minuscule (a locking mailbox for each client that they can access 24/7).

Let us know what you decide and how it works out.

SFR Investor · Orange County, California

That should be CMRA for commercial mail receiving agency. WTF was I typing?

Real Estate Investor · Fort Wayne, Indiana

Rose & Mitch,
Thanks for the input.
The tool & Die company went bankrupt which caused this whole mess two years ago so instead of the cash that I was owed, I received this useless 7 acres.
I still have determined a course of action. I am considering putting in on Craigslist and offering owner financing. I just have not taken the time to get that done.
Thanks again for your inputs.

Updated: 10:13AM, 01/25/2011

That was supposed to be: "I have not determined a course of action yet."

SFR Investor · Wheat Ridge, Colorado

Your lot is zoned "T" for Transitional by the city. Have a look at their web page. Your lot is on map 2. There's a link to the zoning code on that page, too. The section on Transitional zoning starts on page 179. Here's the basic description of what they want:

Transitional (T) District. The purpose of this district is to support the rehabilitation
and/or redevelopment of underutilized commercially zoned areas in the City where
traditional business district zoning is inappropriate or unsuccessful. The
Transitional District allows a mixture of uses appropriate for creating a mixed livework
environment at a scale and character compatible with the surrounding
residential neighborhoods. Such uses include a limited range of “transitional”
commercial services such as office and light industrial uses, residential
development and live-work units. Retail and manufacturing uses are not permitted
in this district.

There's a table of specific permitted uses a bit further down.

Jon Holdman, Flying Phoenix LLC

Real Estate Investor · Fort Wayne, Indiana

I was planning to dig out that information in the near future.
Thanks for finding that.
I appreciate the research. Something like that can take a long time to find when you are a novice at finding that stuff like me.
I need to get going on this project soon.
Actually visiting my son out at USAFA now so I am in your neck of the woods Jon.
Thanks again

SFR Investor · Orange County, California

Originally posted by Chris Luithly:
The tool & Die company went bankrupt which caused this whole mess two years ago so instead of the cash that I was owed, I received this useless 7 acres.

Sounds like quite a story Chris. Do you own the tool building? I thought it was just the vacant land to the west. Being from SoCal where lots are typically 5,000 to 10,000 sq. ft., I have no idea what 7 acres looks like! :wink:

What kind of condition is the building in? With an improvement like that on the land, there's a whole new set of possibilities. They didn't leave the machines behind, did they?

Developer · Orange County, California

I'd drastically discount it and sell it. Building anything on it will require investing much more than your holding costs, and there's probably no market at all in the area right now, so you're probably throwing good money after bad. If you can't sell it discounted, I'd just hold it and pay the costs of holding.

Karen Margrave, Parlay Investments, 1st American Construction
E-Mail: [email protected]
Telephone: 949-933-3955
PARLAY: definition: to increase or otherwise transform into something of much greater value

Commercial Real Estate Broker · Canton, Georgia

I would have to drive the area to see what is the highest and best use for the land.

Soil type,nearby utilities,and topography of the land in addition to the zoning would determine possibilities.

The question really would be how much you were owed versus how much you could get for the land you were given??

Moving the dirt around on 7 acres can be extremely expensive depending on many factors.

Developers go by "net developable area" when making offers as that is what they can produce income on.

If you have 7 acres but only 3 is usable you will get very little for the other land.

The other thing you have to look at is road frontage and access points along with parcel size and shape.You might could partner or combine connecting parcels to appeal to a larger developer.

You also have to remember this fact.What the city or county wants has NOTHING to do with what a developer will want the property for.

I see it all the time in my area.We have a 25 year land use plan with current and future mapping. An area that was designated for townhomes is now foreclosed on.The new developer wants to buy the property subject to getting zoning to put in an apartment complex instead of the town houses.

Of course the county says we understand WHY the new buyer wants this but we will not deviate from our vision for the county.So the land sits and rots until the cycle will come back to where a buyer will purchase for that use or the county gives in a little to the developer.

It's a tug of war with the counties having huge budget short falls they really want the developments to increase the tax base over raw land assessments but can't deviate too much from the land use plans.

Before selling distressed investments land development was all I focused on for commercial development.

Determining highest and best use and getting it approved for that use is the hard part.Tweaking engineering and 3-d plans for approval is the easy part.

You could sell now to an opportunistic land fund for cash or a developer that wants to purchase and hold.There are also land buyers that own many businesses and like owning land as they can eventually sell off for a profit but put no time into it.

If you partner with a developer you can get more for your land but also share some of the expense,risk,and time into the deal.If I could benefit more by receiving cash today and investing it elsewhere that is what I would do.

Hope it helps...................................

Small_allworldrealtyJoel Owens, All World Realty
E-Mail: [email protected]
Telephone: 678-779-2798
Website: 678-779-2798 [email protected]

Sign up