Land

Commercial Land

Land Commercial Real Estate

Some of the Considerations and Drivers of Commercial Real Estate for LAND:

  • Future Use – Will the potential use of this land be farmland, Residential Development, Retail, Office, Industrial, etc.?  What may still need to happen to make this use viable?  When is it scheduled, or likely to happen?  Is it in the growth path for this intended use?
  • Governance – What is the governing body for this land?  County?  City?  Do they have a Master Plan?  What is the Zoning?  What is scheduled for the neighborhood?  Is the governing body strongly committed, or are they amenable to the desired alternative use?  What time and/or cost will be required to overcome these potential barriers
  • Sewers, Utilities – Where are the existing sewers, water, electric, gas?  Are they adequate for this development and neighboring developments?  When are they expected to be extended to this land?  Is the entire land acquisition in the same sewer sub-district?  What is the cost of bringing sewers, roads, other utilities to the same point on the land where development would begin?  What costs will the developer be expected to pay?  Are there sewer hookup fees?
  • Roads – Is the developer expected to improve adjacent roadways, provide turn lanes, and provide stop lights?  What is the roadway network future?  Which today’s ‘section-line road’ is tomorrow’s College Boulevard?
  • Developer Requirements – What are the green area requirements?  Are catch basins required for this property, upstream property, downstream property?
  • Value – What is the correct price of this property considering sold comparables and their trend, asking prices and their history, development expense adjustments?  What value, if any, does the sale of this property bring to the seller’s neighboring property?