Updated over 7 years ago on . Most recent reply
Single Family home on land rezoned to industrial
I'm in need of some help evaluating a potential wholesale deal I've come across. Looking at a .34 acre property with a single family residence that is trashed adjacent to major freeway in Utah County. The property was originally zoned for residential but has since been rezoned to Industrial. The seller originally wanted $300k but is considering $200k. I haven't the foggiest on how to figure out what the value of the land is from an industrial us approach, if $200k is too much/just right, etc. I'm thinking it best to put it under contract for $200k and get it appraised. Looking for some input from experienced investors that have dealt with industrial or commercial land. Thanks!