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Updated 1 day ago on . Most recent reply
How to Rent out "Mixed-Use" Zoned Space
Hi, I am an investor in the south shore of Mass and currently have a duplex property that is zoned in a "Mixed-Use" zone. I am currently renting out both units but I also have an attached 1-2 car garage with an upstairs loft above it that I am looking to renovate and somehow rent out as the space is not currently being utilized. I have done a lot of due diligence by studying all of the constantly changing zoning laws in my town and even hired a zoning attorney in an attempt to get the property rezoned from a duplex into a triplex so I could legally rent out the space as a long term rental. I have not had much success as the town does not want it to be zoned as a triplex
(even though there is a huge shortage of rentals, it is walkable/right next to an MBTA commuter station, and Massachusetts is now allowing home owners to renovate single family homes into having "accessory dwelling units" but apparently does not apply to duplex to triplex conversions.)
Regardless, the only loophole I have found in the zoning bylaws is that I may legally be allowed to rent out this space as a mixed-use commercial space, meaning it would have to be used commercially on the first floor but the upstairs 2nd floor loft area above the garage could be used for residential.
My question is, what kind of tenants or small business owners could I potentially market to for this very specific type of commercial/residential hybrid rental unit and how would I go about marketing to them? The biggest parameter is, I would not have more than 1-2 parking spots available for this new unit so renting to a small business that has constant customer visits would not be ideal. Would the costs to renovate this space be worth the risk of trying to rent it out? Renovating this additional 900 SF unit would obviously massively increase the property value as well but what other creative ways could I utilize this space for cashflow besides renting it out as just vehicle storage?