Posted by Greg¶ on May 27, 2005 at 16:12:22:
Thanks, Ray. It’s good to know that there’s at least a reasonable possibility for something like this.
Minimum practical size for NNN? - Posted by Greg¶
Posted by Greg¶ on May 27, 2005 at 12:24:16:
I bought a vacant commercial lot at a tax sale, cheap. I’m trying to get a company to put up a billboard, but this is taking forever. In case it doesn’t work I want to have a Plan B.
My lot’s on the corner, and next to it is a little old duplex. Both have frontage on a 4-lane local highway, and are zoned commercial. My lot is too small to build on (according to zoning) but both lots together are about 13,000 SF (which meets zoning requirements).
I’m thinking this guy (non-resident) can’t be getting too much rent for his duplex on the highway across from a truck garage, so maybe he’d consider going in on a NNN deal.
Are there any companies using NNN who’d have a use for such a small lot?
Re: Minimum practical size for NNN? - Posted by ray@lcorn
Posted by ray@lcorn on May 27, 2005 at 15:51:25:
Greg,
That’s going have to be a specialty use, something small, maybe a drive-through only fast food… check cashing store… mail store drop-off… etc.
The general rule of thumb for retail development is 10,000 sf per acre, subject to local ordinances of course. If that holds, then you could build maybe 2,900 sf. The problem on small sites is usually parking and travelway configuration… depends on the shape, topo, etc.
It would be worth an option the duplex site for a small fee, say $500, for six months, and negotiate the strike price as low as possible. Use the time to make some development sketches for comment by the zoning folks, and then shop around for users.
ray