Whats the best course of action?
Lets say hypnotically that there's a 1.3 acre commercial parcel on an increasingly busy Hwy in Nebraska. Its next door to two other strip malls that are fully leased. An offer comes in for $400k for the parcel. Do I:
A. Sell it for 400k and try to find something to 1031 it into that would give a decent rate of return.
or
B. Keep it and build a strip mall of approx 8,000 sq ft for about $900k with no money down and a 15 year 4.5% loan. Triple net rents would average about $10-12 per foot with low vacancy in the area.
What say you?
