View Full Version: Residential To Commercial Guidance Please

Residential To Commercial Guidance Please

JGK03
2006-06-29 10:25

I have under contract a 3701SF 14 room home on Main St in Groton MA. It is perfect for a group of offices (after remodelling).
It is currently zoned for mixed use with an in home business allowed however it was originally zoned as commercial until 1960. Several homes have been converted this way (into banks dentists etc) although I dont know if they needed rezoning.
So some questions:
Is the re-zoning a big issue?
Where is the best place to showcase such a property? besides TCI of course Are there key brokers? What do brokers want typically? 3%?
Please excuse any naivete...
JK


EvergreenAssetGroup
2006-07-02 18:58

JK,

Zoning is ALWAYS a Big Issue. It comes into play when buying AND selling. That's partly what the term Due Diligence means. Basically, doing your homework before buying and before selling. Another thing to consider is that every town across the country handles zoning items a little different. Some will have easy steps to follow, while others will turn out to be bureacratic nightmares.

Zoning and Re-Zoning can and will, make or break a deal. Just make sure you do your homework first.

P.S.- You can post Commercial properties on my site. Check it out. [addsig]


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