My first commercial lot! Now what should I do?
Hello everyone! So I’m really new with real estate. I’m in the middle of doing a brrrr on a single family. The property behind came up for sale and is zoned light commercial. The price was right so I jumped on it. For 2 reasons. 1 I control what type of neighbor is behind my single family. 2 this could give me a potential property package when I’m finished to make a higher return.
Now what should I do that keeps my costs down and gives me the highest return? The lot is bare land and is land locked by the house I own and another house. The county said it could be used for a car lot, towing yard, repair shop, contractor yard and so forth.
My property has 25 feet in width beside the house from the street to the commercial lot.
I appreciate everyone’s input!!!