I recently purchased a former 2 screen movie theater building. What are the probabilities of getting a user

The building needs extensive updating. however it has a great history. Located in Downtown St. Clair Shores, MI. A suburb of Detroit
In Leasing Property - Asked by Alger L. - Jul 12, 2017
Report Abuse
Answer this Question

Answer(s)

David B.
Broker/Agent
Fort Worth, TX

Depending on age it may qualify for historic grants for renovations. Also I have been seeing theaters in Texas being converted to lease church space. Which my be a win win. If leasor agree to pay for some of updating then value is added to property. In addition when they leave property it is ready for next teants.

Jul 12, 2017
Report Abuse
Cliff N.
Broker/Agent
Middletown, RI

To expand upon the great ideas David suggested, check out the municipality's zoning & building department chart for allowed uses and even for uses that require special permit. This may give you additional ideas of your target markets and improve your success in getting a user sooner/faster. You might consider checking with a general contractor to get an idea of costs for work that would be needed, fire code, an architect for ADA compliancy etc...but you (or your future buyer) might consider before investing any money into the work before you have a tenant/user who brings their vision, since either your work might go to waste if changes are made, as well as you'll have to put thought into how you will extend (promote?) offering of tenant improvements if you/future owner is considering leasing. Consider looking at things from the perspective of what kind of business(or use) is missing from the neighborhood or which existing businesses/users want to expand and you may improve your improbabilities of getting a user. Wishing you success !

Jul 12, 2017
Report Abuse
Toi H.
Broker/Agent
Los Angeles, CA

The TV/movie industry is always looking for locations to film. Here are a few resources. Best of luck to you.
https://gov.texas.gov/film/page/your_property_in_films
http://film.ca.gov/locations/market-your-property/
http://www.locationshub.com/list-your-property/
http://www.filmlocationswanted.com/

Jul 12, 2017
Report Abuse
william s.
Appraiser
Bronx, NY

Nearly every old movie theater here in NYC is now a church.

Jul 13, 2017
Report Abuse
Peter H.
Chantilly, VA

close to 0.

Jul 15, 2017
Report Abuse
Billy C.
Broker/Agent
Philadelphia, PA

Try reaching out to theater groups and film schools. You may be able to make a few bucks while you're waiting for better deals to through the pipeline.

Jul 15, 2017
Report Abuse
NAJIEANJIEA N.
Broker/Agent
NOCITY, CA

NAJIE

Jul 17, 2017
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question