Finding Vacant Land Tenants & Buyers

[Morris Pearson]

I'm a long time Bigger Pockets ghoster and short term real estate action taker (about 3 months), but I've discovered a niche I want a pursue and am going all in for it. Recently I've been interested in finding suitable vacant land for ground lease NNN tenants. I'm well aware that ground leases are a less desirable option for tenants, as many would prefer build-to-suite, but it is a road I'm willing to take. Currently I'm adjusting our search criteria based off the feedback I'm getting from tenants like Mcdonalds, FIve Guys, Auto Zone, CVS, Sonic, Subway, ect...The first property we got under contract was directly on a highway with with a vehicle per day count (13,000), but had a 1 mile population density of under 1,000 making it too rural for many of the tenants we talked to. This weekend I'm modifying our criteria again, but currently have the problem of having too many properties under contract. We currently have 4 properties under contract and have a few more ready for me to sign, but I haven't found the ideal tenant yet or put together a profitable exit strategy. The properties we have aren't terrible as they all have 5 mile population densities of 50,000 to 110,000 and are on main roads with at least one having a vpd of 20,000. I know for the future the properties we acquire will need to have much better stats than this, but I have to assume there are some tenants out there that will find our properties desirable. This weekend I'm handing my lead generation team a list of self storage companies, Co-Working Companies, and Nursing Homes to contact as well as a list of vacant land buyers. I guess what I'm asking is are there any other more common niches that may look to sign a ground lease or purchase vacant land? I was thinking of office builders and physician groups, but putting together a list of contacts for them is becoming quite difficult. Any suggestion will be appreciated.

[Taylor L.]

I have something for you that might be helpful. I'm going to PM you.