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Wayne
01-18-2004 11:21:32
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Re: Ideas for use of 2 acres industrial land. in reply to jim, 01-18-2004 07:11:27
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I have to agree with Fawteen, being industrial property I'd spend a little to have it checked out for any type of envronmental problems before I made a commitment to buying. Either that or make sure there is a binding clause in the sales contract that the seller will cover any and all enviromental related cleanup costs should any arise. Anything to CYA... I know they did a cleanup on an old battery dump close to me a few years ago and it was an extremely high dollar affair. Even though it's now "clean" the complete area has been asphalted over and the uses for the property are severly limited. As for uses, with the U-rent areas for working on vehicles, once again your gonna be talking environmental issues from people changing oil, etc. How you'd have to deal with that would be based on local and I would imagine some Federal laws. The idea in my opinion would be self storage buildings. No matter how many there seem to be they always seem to stay full. Put them up, rent them out, and let the money roll in. If the rent isn't paid, you padlock the space for a set period of time and when it's up you auction off the contents, if any, to cover past rent, etc. You can put in several different sizes, say 6x6, 8x10, maybe some big enough to store a car, etc etc. Unless they are heated and cooled the biggest expense is gonna be power for alot of single light bulbs. Even if you did decide to put in a few with climate controls and charge more rent there are people that use them too. Then include some outside space for boat storage, RV storage, etc and you have a nice operation. Usually insurance for items stored is the responsibility of the person storing it so you should have limited to no liability for that. Without the need for anything but restroom facilities in the office building simply having a septic system should be no problem. What it all comes down to in the end though is checking with the planning/zoning department who controls that area and see what they will allow you to do with it. That's the biggest problem you have to face before you can doing anything.
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