Fee Simple or Condo for Lot Subdivision?
Question for any of your who have subdivided, developed and sold lots ---
We are looking to rezone and subdivide a 10 acre property into multiple commercial lots. We will be adding a throat road into a cul de sac, addressing drainage, and stubbing out utilties to each lot.
We could sell them as fee simple lots, however, this would incur greater infrastructure costs (public road size requirements vs private road) than if we created a condo scheme -- wherein we would sell units (equivalent to a lot). Obviously, the condo association would have to collect monies for ongoing maintannce of the road and drainage.
On the sales and marketing side, do fee simple lots enjoy a premium to condo "lots"? Or asked otherwise, do condo "lots" suffer a discount to the same size fee simple?