How does an investor or property owner identify the best use and development potential or highest long-term cash flow opportunity for a particular property?
Last year, we purchased a 2 acre piece of land with over 400 feet of commercial road frontage in one of the fastest growing areas in the country. Comps in the area show anywhere from $8.00 per sq foot (for vacant parcels with less road frontage) and up to $30.00 per sq foot on outparcels for a nearby Publix grocery store currently under construction opening this Summer.
Certainly not a primary or even secondary market… but perhaps tertiary since it’s outside of Mobile, AL in the path of growth! Nevertheless, the opportunities are vast and perhaps endless.
In what direction should we look to best determine the land’s most lucrative use?
Host: Victor Menasce