Updated over 8 years ago on . Most recent reply
Commercial Ground Lease Feasibility?
My family owns a valuable piece of land (10 Acres) on the St Johns River south of Jacksonville. I would never sell this property due to family history but might consider doing a commercial ground lease for a condominium or town home community. Is this a common practice for this type of community? My thought was to receive a condo or town home and dock slip for each of my family members (with all taxes and fees paid by developer) plus a monthly payment in exchange for the land use. Any thoughts on this scenario?
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You could also partner with a developer for the site and thus keeping the land and any improvements in your family portfolio.