Updated over 7 years ago on . Most recent reply
Commercial Property - Little Rock, AR
Disclaimer: I am just starting out in RE, so bare with me.
My father owns a piece of commercial zoned RE in Little Rock, AR. He ran a small restaurant out this place, but no longer is in business. The property is located on John Barrow Rd. There is no mortgage and it is currently rented out to a pop-up restaurant on a month to month basis. I seriously doubt this restaurant lasts that long, so I would not count on this income. The last time I checked, comps valued the property around $90k-$100k.
What would you do? Would you figure out how to consistently cash flow the property and purchase it from your father? Encourage your father to sell?