Mixed use investment - Commercial Parking Question

[Denny Hancock]

Hello, 

I'm in the process of purchasing a mixed use building. 4 residential units and 1-2 Retail Commercial Unit(s)... (~2,000 commercial square feet). In general we're very excited about the deal and feel comfortable with the investment BUT... we are very concerned with a possible parking challenge and I wanted to get feedback from this audience as we are currently working through a due diligence contingency.

The parking situation is that there will be only a few spots (2-3) unofficially assigned to the commercial space. In order for the residential units to be strong we'll need to reserve the remaining parking for them. In addition there is street parking all around and many other residential apartments buildings and commercial buildings (Wall Mart etc.) that help make it a very walkable location and may accommodate occasional overflow.

To me 2-3 dedicated spots seems like very inadequate parking for many potential commercial tenants and I fear that would make owning this investment a challenge. 

I'd love to hear insight and experiences from the Bigger Pockets community!!!

Thank you! Denny