Industrial Land re development any suggestions

[thedonker]

Hi there following the bankrupsy of one of our tennants I now have around an acre of industrial land going to waste, looking for suggestions or businesses that can be started on industrial land, I have costed out the setting up of a self storage facility, and it is nearly there in terms of potential, but my mind runs a blank trying to find alternatives to self storage. I am based in the UK so it would be nice to hear what redevelpments are happening in the USA or elsewhere in the world.

 

[Nemesis79]

There's a trend here of building Green Renwable energy Condo's off of Industrial land..complete with Green roofs, Wind power and Geothermal.

Perhaps you can give that a go..it all depends on location.

Currently I'm doing a green project.

 

[Designbuilt]

Hi there following the bankrupsy of one of our tennants I now have around an acre of industrial land going to waste, looking for suggestions or businesses that can be started on industrial land, I have costed out the setting up of a self storage facility, and it is nearly there in terms of potential, but my mind runs a blank trying to find alternatives to self storage. I am based in the UK so it would be nice to hear what redevelpments are happening in the USA or elsewhere in the world.

You have to check the local codes. Mainly the Zoning Ordinance. This is exactly the type of work that I specialize in. Once you deterime what is allowed and what is required, you can then come up with ideas.

Industrial is very relative to what is allowed for the property in question.
In Chicago the Designation is M-zone. Which is Manufacturing. It is one of the few zones that allows a Bar, and other adult uses, they also allow
MVR's (motor Vehicle repairs) and with a special use permit (through city council, the alderman and adjacent property owners) you can obtain
a PPA or Public place of amusement license. I designed both a brand new and conversion to an indoor soccer arenas.

The owners of these are doing great, but they know the business. They charge for the rental of the space from the teams.
They form leagues, and charge the spectators for watching as well as for drinks. If the land is only an acre the stadium may be out, because you also have to consider the parking and landscaping requirements.


Furthermore, just because the use may be allowed, for example a bar, that would only be for the purpose of obtaining a building
permit and Zoning use approval, keep in mind that you also have to obtain a business or in this case a liquor license to actually open the place.


That's one idea, but there is just so much involved, that you have to stick with what you know and what you know that there
is a demand for.

I'm exhausted and I know that a lot of this is hard to understand, since I'm having a tough time typing it. But you should really get to know the property, the demands and the person in charge of the ward, in the U.S. it would be the Alderman.
I have no Idea who it would be in your country.

But other ideas are lumbar yards, junk yards, car was, etc.

It is also tough to base your decision on other parts of the world since there are far too many factors involved.

I recommend that you come up with an idea, then a business plan, get a good commercial real estate appraiser and run the idea past him.
He/she would know traffic counts, the demographics, surround uses, competition, etc.

Keep in mind that if it's close to another type of land use, you can apply for a Zoning district change, which would allow you more options.


One more thing: If you are building in a manufacturing district you have to keep in mind the traffic flow. If you have a business like a soccer stadium or a stripper joint, bar etc.

You would not really require too much traffic flow because people are going into the area for a specific reason, which is to go directly to the place and advertising would be done in a different way, such as TV, radio, internet, word of mouth, etc.

The business is not really relying on people causually running into it, like a McDonalds, or 7-Eleven would for example;
that's why it is important to know these things.

Good luck

 

[RSH)&]

I was in a similiar situation with four acres of land. I also looked at an indoor storage facility but it was more than I wanted to invest. I ended up enclosing the property with fence and installed security lights. I rent spaces for boats, rv's, and cars. Location is everything. I live near two large lakes, military base, and many upscale housing communities that do not allow boats or rec vehicles on the residential property. There are also many companies looking for places to store containers and trailers. Hope this gives you some ideas. Good luck.

 

[thedonker]

thanks guys for all your advice, I costed out the self storage facility only to make the executive decision not to go ahead, the investment was too large, I am still looking into other things, the location is good for industry and thats what it seems to be best, such a shame when a company goes under because they had been going for over 30 years. I think the next best thing to do is to build more warehousing starter units at approx 2000 sqft each and rent them to small businesses, we currently have 12 of them on the other side of this land, 11 of them full. If you hear of any novel ideas kkep me informed

best wishes

 

[BBfhg1]

One of the things that is popular around here is industrial condos. You put up a building and sell the condo unit out. Of cores there is the monthly condo fees and maintenance fees that you will still get. The condos are around 1200 sq feet and only have a bath room with the ability to connect two together. If you need more info let me know.

 

[thedonker]

One of the things that is popular around here is industrial condos. You put up a building and sell the condo unit out. Of cores there is the monthly condo fees and maintenance fees that you will still get. The condos are around 1200 sq feet and only have a bath room with the ability to connect two together. If you need more info let me know.

thanks for that bud, but we tried to get an other plot near to this one converted to residential property and were denied, told by the planners it was deisgnated industrial sector. At the moment the land sits dormant, until I come up with something, looking into all sorts of thngs.

 

[cslim]

have you thought of mobile mini? sorry if it's already mentioned, i just briefly skimmed through the other responses!
i believe their website is www.mobilemini.com

I work with them out of Phoenix, AZ, US

 

[Designbuilt]

thanks for that bud, but we tried to get an other plot near to this one converted to residential property and were denied, told by the planners it was deisgnated industrial sector. At the moment the land sits dormant, until I come up with something, looking into all sorts of thngs.

Did you find out what the Zone was exactly? Keep in mind that just because the land is Near that one, doesn't mean a damn thing. You can have a completely different Zone adjacent to another. Find out exactly what zone your property is and if a Zoning district change is allowed. Find a good Zoning attorney and Real estate appraiser, both will be required.

What you do at this point is have your architect draw what you want and propose it to city council. You will have to legally notify the affected adjacent property owners. The procedure may be different in your area, but a Good Zoning lawyer would know exactly what the process is.

This weekend I just had a meeting with someone looking to buy a property from my younger brother. He wants to put in a trucking company, or should I say expand his business.

Ideally he wants to be close to the railroad and in an industrial zone. I guess that what they do is collect the trailers which are unloaded from the railroads then put on the trucks which ship them out. That's another idea.