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Updated about 6 years ago on . Most recent reply

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206
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194
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William Jenkins
  • Real Estate Broker
  • St. Louis, MO
194
Votes |
206
Posts

Undermined Coal Mine Property Development Poential

William Jenkins
  • Real Estate Broker
  • St. Louis, MO
Posted

I've got a property that I am interested in that was undermined with a room and pillar coal mine back in the 1920's.  There is an existing income stream that I am interested in purchasing that goes with the property, and I am just starting to look into what I can do with the remainder of the property. 

I'm well versed in land development but don't have any experience with undermined property.  The property is located along a major interstate on an exit ramp albeit in a more rural area.  I could easily see a future opportunity for a gas station, self storage, smaller commercial warehouse, etc., but I know the undermining will affect the attractiveness of selling later down the road for that.  The state offers subsidence insurance (even for new development), but it is capped at $500k (could cover a smaller metal warehouse building etc, but not a gas station, hotel, etc.) 

Anyone on here ever develop an undermined property?  What did you develop?  Tips, problems, issues, concerns, advice?

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