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Updated 8 months ago,
Best thing to do with building for high return
We have a building that is about 5000 sq ft (4000 first floor, 1000 second floor), we are trying to figure out the most optimal thing to do with it. It is two story, and is currently just a large shop floor with one section that has a second story loft type thing. It also has a large flat upper roof area, although not sure if it could be used for something or not.
It is in a good area next to businesses and breweries/shopping centers/etc in a busy town. We are trying to figure out a business to put in there, the one issue is there is not a whole bunch of parking on this street or at this property (could maybe fit 4 cars in the building lot, the street parking varies), and the nearest lot is about 700 ft away, across a busy-ish street that does not have a crosswalk on it. The building does have a nice sort of drive through driveway.
Some ideas we had were:
- daycare
- gym
- brewery
Basically the people that are renting it now are leaving and we want to put something there that can generate more cash flow. Any ideas?