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Updated over 4 years ago on . Most recent reply

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4
Posts
1
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Joseph K.
  • Winston Salem, NC
1
Votes |
4
Posts

Commercial Property Sale - Parking Problem

Joseph K.
  • Winston Salem, NC
Posted

I'm looking to sell one of my commercial properties (6,300 sq ft) while retaining ownership of the adjacent parking lot (25 spaces). The potential buyer needs about 6 or so spaces and I'd like to have suggestions for creative solutions to achieve both objectives. Some more detail and my thought process:

1) I could sign a long-term parking lease/agreement (10-years or so) for the 6 spaces so that the potential buyer would have confidence that he would have access to parking.

2) I could devise a parking easement (compensated by a higher purchase price) for 6 spaces, but I'm hesitant about the implications down the line should I want to sell the lot/land or redevelop it in some way. 

3) I'd rather not deed out a portion of the parking lot as part of the purchase agreement for the building

Am I being unreasonable or can anyone suggest another solution?

Most Popular Reply

User Stats

247
Posts
247
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Cason Acor
  • Real Estate Agent
  • Salt Lake City, UT
247
Votes |
247
Posts
Cason Acor
  • Real Estate Agent
  • Salt Lake City, UT
Replied

I would just go with option number one. That's the easiest and most common solution.

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