Difficult property to fill. No one is expanding, so you'll have to entice tenants from other centers. Given the info provided, perhaps a gym, training facility, indoor/outdoor flea market, used book store, pawn shop, thrift store. For some of these, you may have to divide by office/warehouse and have several tenants. Obviously with 6 acres, you could subdivide and sell off a portion also, or ground lease to a fair, farmer's market, or other temp. use tenants. Many auto mall owners are in the same position. I would make a list of every auto mall tenant in the County, find out what they're paying, and see if I could make it worth their while to move to your spot. Lease it out dirt cheap for now for enough to ciover your your tax, insurance and utilities. Offer dramatic discounts for the first year, then rachet it up agressively for the next several years. If you're looking to sell, perhaps offer owner financing with 15 to 20% down, 20 year Amort, due in 5 years, then sell your note after the fact. Let me know how it works out!
770 904 2389
Jun 21, 2010