15,000 sq ft. only 12 parking spaces

[Ash Patel]

Hi Everyone! First post, long time reader. I am looking to buy a former ACE Hardware building that is a 15,000 sq ft shell for $450k. The kicker, there are only 12 parking spots for customers. There is some "employee parking" in the back. There is no way of expanding the lot. Great traffic count and beautiful brick building that is only 5 years old.

Any ideas for what type of tenants I can get in there? I need a high margin low volume business. What makes the deal even sweeter is that there is a 3000 sq ft out building on the property that currently houses an electrician business. They pay $2000/month. Taxes are roughly $1600/month for the entire property. I am just absolutely struggling to determine if I am going to sit on this forever or if I will be able to find a commercial tenant. I need $3000/month from the 15,0000 sq ft. to break even. Anything above that is profit.

Thank you all!!!!!

[Leon D.]

Depending on where the site is, maybe: Factory 2-U, Planet Fitness, OfficeDepot/OfficeMax, Fresh & Easy. 15k sqft won't necessarily be easy to fill, so if you find one tenant to take the whole space, consider selling the building for a good profit once leased up and move on.

Alternatively, maybe it could be divided into 2-3 smaller suites, making leasing easier... barbershop, dry cleaner, Subway.