I want to convert office space into residential living space.

Commercial Real Estate Investing
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I want to convert office space into residential living space.

Dan Hunnicutt
Realtor · Palo Alto Cailifornia · Member since 2020 · 2 posts · 2 votes

I’m thinking Texas or Arizona. Although the sellers are still thinking the properties are going worth more than they are.

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Scott E.
Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
3y

I looked at doing this with a ~25,000 square foot office building last year. Turned out we could fit about ~18 apartment units in there if we wanted. Converting office to residential is a great plan with many companies shifting to a work-from-home posture.

Admittedly I would have been getting in way over my head to do this deal. But the office building caught my eye as a perfect fit based on location and the layout of the existing building.

I brought a contractor out there who specialized in office conversions. He has done 4-5 in the past couple of years. I learned that the entitlement process is grueling. It takes about a year and you usually will face some opposition from surrounding owners and tenants.

He structures his deals where the due diligence period is very long, and subject to the ability to rezone the property. Of course most sellers wont entertain this, but some motivated sellers will.

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  • Scott E.
    Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
    3y

    I looked at doing this with a ~25,000 square foot office building last year. Turned out we could fit about ~18 apartment units in there if we wanted. Converting office to residential is a great plan with many companies shifting to a work-from-home posture.

    Admittedly I would have been getting in way over my head to do this deal. But the office building caught my eye as a perfect fit based on location and the layout of the existing building.

    I brought a contractor out there who specialized in office conversions. He has done 4-5 in the past couple of years. I learned that the entitlement process is grueling. It takes about a year and you usually will face some opposition from surrounding owners and tenants.

    He structures his deals where the due diligence period is very long, and subject to the ability to rezone the property. Of course most sellers wont entertain this, but some motivated sellers will.

    2Reply
  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    3y

    Yep, its growing in popularity. We don't see a ton in Texas yet, you need higher rents and lower occupancy office, DC and NY, Boston, etc. 

    Can you search this video on YouTube?

    0Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    3y

    I like the horse...

    1Reply
  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    3y
    Quote from @Scott Mac:

    I like the horse...


     My 4 year old's masterpiece! 

    2Reply
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