Corner lot property surrounded by strip malls

3 Replies

I have a cheap home needing repair on a corner lot with 2 main streets. Other corners : HEB grocery, CVS and a strip mall with Starbucks. This is the last corner standing with a bunch of old homes that need repair. Does this seem like a good buy to hold for the long term until I get bought out by a commercial builder? I have no idea what a commercial builder would offer when the time comes. Let's say I bought it for 100k. What's a wild guess at what I can look forward to in the future as an offer?

@Val Rodriguez Really hard to say what it’s worth from the information given, but it is pretty intriguing.

My first question is how large is the lot? Are there other properties adjacent that could be assembled? If the lot is big enough to develop for a commercial project, you really might have something there.

Is the current zoning residential?. If so, and the lot is big enough to put something like a QSR on it, you might buy it, rent it out as is, and work toward rezoning.

Even if you just keep it as a rental, busy (commercial) corners have a way of paying off in the future, even if you’re not sure what that future will be.

It probably is not worth much.  The reason is the lot size is most likely too small if it is just a house.  Commercial users such as fast food need larger sites for parking and egress issues.

If I am right, then the property would only be useful to the adjacent property.   As a residential property, it is odd, something that most people would not be attracted to.