I just purchased Commercial Property one block from the beach in a seasonal beach town. The town is very busy June - August/September, but pretty quiet otherwise. Small town in Western New York, but the property is on a main road that goes along the lake to other communities.
The land is 95 feet road frontage by 118 feet deep. Currently full of trees, but I'll have them taken down.
Looking for ideas. NNN lease sounds ideal, but probably hard to get? Or do I build a small 'strip mall' (2? 3? stores) and rent them out? Other ideas?
See what the city or county wants to go there and see it fit within your plans.
We had a developer exercise before where the developer showed 4 plans. 1st one was what the city wanted lots of trees with very little buildings. 2nd one was what the tenant wanted tons of parking and a small building they pay rent on. 3rd was the developers plan that had lots of building for rental income and a smaller parking lot and limited greenspace.
The 4th plan is the one where all of those come together to make a project viable where the tenant, city or county, the public, and developer get some of what they want.
Sometimes it can't come all together and projects fall apart.
Thanks.... Good idea, I think I will ask the town. Was just seeing if anybody had ideas for seasonal beach town properties. I could do what most people do and just build housing and sell them. But was looking for something that would give an ongoing 'passive' income, yet can survive the seasonality.