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Real Estate Deal Analysis & Advice

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Jason Moran
  • Emergency Room RN
  • Magnolia, TX
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43
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Need "Value Add" advice

Jason Moran
  • Emergency Room RN
  • Magnolia, TX
Posted Jan 14 2017, 08:12
I need some creative thinking here folks. I have an accepted offer on a 1acre country home that is as "In-town, country" as you can get. The city limit is literally across the street an I will be facing "Main St". This is going to be my primary, but the real gem is the 14,000 sf vacant lot at the back of the property with the private driveway. My thought is to gravel it, key code access gate, and use 40' shipping containers with side access roll up doors to create 10x8 mini storage units. Each container delivered is $7,000 and I can purchase more as I fill space at $70-$100 per space (unit) = $280-$400 per container. Here's my hurdle. The land is zoned Ag/Urban meaning I can have an agriculture related business, but not a commercial business such as mini-storage. All together this lot will fit 63units when accounting for driveways and access. The cash is too good to let this go and 63 units is too easy to fill in this town. (Current facilities are at or near capacity at all times). I've looked into the container farm concepts like Pharmpod, FrieghtFarm etc. and thought about using that model as a business plan and license to justify these containers that will only be seen from an aireal view. I don't necessarily want to do something underhanded, but I am willing to push the envelope a little. What kind of Agriculture related business can justify 18-20+ storage containers on an empty lot in the country?

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