Hey all, first time poster here. I'm eyeing a small parcel of land on which I think I can squeeze a 5k ft building and 38 - 40 parking spaces. My first inclination is to try and put this together as a stand-alone urgent care office. Does anyone have any tips on finding such a tenant and/or have you developed something along these lines in the past? Thanks in advance.
@Scott Caldwell I have no direct advice to offer on this, but I think you're on to a good use based on what I see in my town. The local hospitals here are putting these up like crazy, 2 in the last year. They seem to like to find the major arteries into town and want to catch people driving into town before they can find other medical care so if your location is like that it's probably good. You'll need to get connected to whatever broker the hospital company is using to scout locations which in my experience is very hard.
Thanks @Jeff Kehl, I appreciate the feedback. Many urgent care facilities around here (Central Texas) don't seem to be affiliated with a hospital, so I was thinking of marketing the site to those prospects first.
I wonder if you and others thinks it makes any sense to get the site under contract with earnest money, and market it if possible prior to closing to get a sense of whether the concept gets any traction. Is that a common or uncommon approach?
Scott, have you talked to the owner yet? You dont need to dive right into the price discussion straight away. Maybe start with why they are selling and see where the conversation goes from their.
If that goes well I would track down a good retail broker and get their take before you get serious on a contract.
Hi Scott! I just wrote an article about urgent care facility development (I think it's in my blog on here, if not, I can send it to you). It's hot right now, but they're not the easiest tenants. They do offer long term leases because of the expense of their build-out, but they come with some challenges, too. Do you know if that size lot will pass approvals for a medical facility in your town? Where are you located?