Wedding Venue in Hilliard
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
I would check with the zoning in Hillard and confirm that they will allow you to operate a business at your house before you invest money and time into the venue idea.
If that checks out then you should do it. There is a bunch of demand for venues right now
Hey @Remington Lyman, thank you for the reply man. I've been in touch with Franklin county to make sure of this exact issue... I'll keep you posted and when I come in town next to look at some of your units up for sale. (I look at them every morning)
Quote from @Nick Uhas:
Hey @Remington Lyman, thank you for the reply man. I've been in touch with Franklin county to make sure of this exact issue... I'll keep you posted and when I come in town next to look at some of your units up for sale. (I look at them every morning)
Let's take some down!
There's a huge demand for venues right now, I've thought about doing this myself. I really like the rustic barn style but, at least in my area, they are everywhere. I would like to see something more unique that people are willing to travel for to use. Then again, the barns are always booked out for at least a year ahead of time in my area. I just worry about competition getting to strong in the barn venue market.
Also, keep in mind, a wedding venue isn't going to be near as passive as a standard single-family rental. But I would say the rental rates on venues make up for it!
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
Would be a neat mixed use property! You could even look to Airbnb the house when the wedding venue is not in use. You can even look into domes, yurts, and canvas tents for a glamping component.
-
Real Estate Agent Ohio (#2020001277)
- 614-363-2787
- https://marc.reafcorealestate.com/
- [email protected]
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
This sounds like an unconventional and an amazing way to possibly bring in a lot more cash flow using your property! However, I would check with zoning and see if there's any special type of business licenses or permits needed. I'm an investor and agent here in Columbus Ohio and would love to connect and see how your journey goes!
-
Real Estate Agent Ohio (#2023000087)
- 614-300-7535
- https://linktr.ee/jimmysellscolumbus
- [email protected]
Hi Nick,
I live in Hilliard, Ohio and helped plan my sisters wedding last summer. The demand for nice venues are in the area HIGH! If zoning allows it, I think that would be a great way to utilize your extra land.
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
As the other comments have said definitely check your zoning but it is a great idea. You do not have to limit yourself to just a wedding venue, without doing the research I cannot give you exact advice but some of the things I do with my venue is list it for other uses such as:
Rent it to TV/Film through your local state and/or county.
Corporate events which are on the rise for unique places.
Baby Showers.
Running an event venue is very similar to running a STR the main difference is it requires a more work up front because you have to market your venue more in comparison to a STR and setting up your automations can take a little more time if you have no one with experience to help you.
Quote from @Jacob Hornberger:If you get the opportunity you should do it. Weddings typically book 9 months to 1 year in advance and depending on your business model you can do everything in house to increase your bottom line or have preferred vendors to manage consistent quality for your guests. It does not have to be a rustic barn, there is a wedding venue an hour away from me their venue is a 2 level modern barn.
There's a huge demand for venues right now, I've thought about doing this myself. I really like the rustic barn style but, at least in my area, they are everywhere. I would like to see something more unique that people are willing to travel for to use. Then again, the barns are always booked out for at least a year ahead of time in my area. I just worry about competition getting to strong in the barn venue market.
Also, keep in mind, a wedding venue isn't going to be near as passive as a standard single-family rental. But I would say the rental rates on venues make up for it!
@Demetrius Harrell This is great insight! So, so far I've reached out to Norwich Township and they have told me this property falls into Franklin County Zoning. Since it's not Hilliard or Columbus I will still need to apply for an AirBnb permit (but it's conditional).... one area that seems grey is this...I would need to apply for a variance to make this property an official wedding venue, but I know some air BnB's just use the property to host weddings. Does anyone know what the actual cut-off here is... or is it basically keep doing weddings but "don't piss off the neighbors". Open to all feedback here!
@Nick Uhas I’d definitely recommend getting the right permits especially if you’re thinking of building a structure. My area in New Hampshire is cutting back on AirBnBs and requiring permits and imposing hearty fines. The last thing you want to do is spend $75,000 building a structure and furnishing it and booking people then have your first wedding get **** down by the police.
@Alecia Loveless this is a totally fair point, and I will take your information and use it!
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
It definitely sounds like a good idea for diversification and creative use of the property. As a wedding venue though, the fundamental business model changes to an event site to cater towards the client demand. More often that would mean having amenities like tables/chairs, av hookups, lighting, etc to accommodate wedding functions. Of course that would probably depend on the type of weddings you decide to accommodate, but offering a bare bones facility that puts the responsibility decorations and material all on the client seems like it will severely limit your potential clients. I think licenses required for having food/beverages/alcohol served on the premise, even if not directly supplied by you, will also need to be considered.
If you proceed, you might also consider allowing other events as well, such as corporate retreats/functions. I attended a company "gala" out in galloway a few years back that I think would match what your idea would provide.
Side note, I used to walk past your campus properties all the time. I really like how they turned out!
@Phong Bui this is great information, and noted on the food and bev. Also, thank you! Yea that was all Buckeye Real Estate... Justin Garland did a great job with them.
Quote from @Phong Bui:
Quote from @Nick Uhas:
Hey BP Columbus!
I have 4 commercial buildings down on campus (OSU) and a single-family house out in Hilliard on 11.8 acres (half grass half wooded area). For about 3 years now I haven't figured out the best path forward except just to rent it out like a normal house. However, I've now got an idea of making this an STR while using the property as a wedding venue. I've seen the numbers on wedding venue rates and this looks much more attractive than just monthly rent. The idea would be to build HGTV-style big barn and turn the grassy areas into an apple orchard (low maintenance and possible ag tax credit down the line). I think this could be a better use for a large property with just one single-family house on it. Please let me know your investor thoughts!
It definitely sounds like a good idea for diversification and creative use of the property. As a wedding venue though, the fundamental business model changes to an event site to cater towards the client demand. More often that would mean having amenities like tables/chairs, av hookups, lighting, etc to accommodate wedding functions. Of course that would probably depend on the type of weddings you decide to accommodate, but offering a bare bones facility that puts the responsibility decorations and material all on the client seems like it will severely limit your potential clients. I think licenses required for having food/beverages/alcohol served on the premise, even if not directly supplied by you, will also need to be considered.
If you proceed, you might also consider allowing other events as well, such as corporate retreats/functions. I attended a company "gala" out in galloway a few years back that I think would match what your idea would provide.
Side note, I used to walk past your campus properties all the time. I really like how they turned out!
That is a good point, it will depend on his market competition and his business model. Most of my venue clients already have a decorator in mind they want to use so they only rent the facility from me and if they do not like the tables and/or chairs I provide they will have their decorator bring their own. If he partners with locate event planners he can still be an all-inclusive venue without having to worry about managing a full decoration team.
I am in the process of hiring staff now to assist with me with doing decorations so I can focus on securing another venue.
Quote from @Nick Uhas:It is not uncommon for STR's to host weddings but to your point some of them are doing it without the proper permits so it becomes a situation of "Don't piss off the neighbors" and no one will know so they do not get shutdown. I like to be more cautious because the more you do it the higher the chance of getting caught so I would recommend doing your due diligence to see if it is worth it for you. The fact that they have the policies in place just shows that they are aware of the business model which works in your favor.
@Demetrius Harrell This is great insight! So, so far I've reached out to Norwich Township and they have told me this property falls into Franklin County Zoning. Since it's not Hilliard or Columbus I will still need to apply for an AirBnb permit (but it's conditional).... one area that seems grey is this...I would need to apply for a variance to make this property an official wedding venue, but I know some air BnB's just use the property to host weddings. Does anyone know what the actual cut-off here is... or is it basically keep doing weddings but "don't piss off the neighbors". Open to all feedback here!
@Demetrius HarrellI totally agree. I think we will try and get the Air Bnb in place first and then go the routes needed for this... a question for you, have you filed out or had any experience with the Conditional Use form in Franklin county for Air Bnb's?
No, I do not have experience in Franklin county. I am in Georgia.