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Updated over 9 years ago,
Loft style space in small town
Hi,
I have the opportunity to purchase a really cool space in a small town (9,000) people. Downstairs and upstairs are both open, hardwood floors, exposed brick. Upstairs has a balcony off it. Initial plan would be to try to rent the top as a airbnb type rental. It is a very cool space for a small midwestern farm community. The only downside is that we really don't have any large attraction or draw that would continuously bring renters to town. There are currently no airbnb's listed within 50 miles of me.
The downstairs is wired for PCs and great electric access. We were thinking like a cool collaborating/conference space. I thought about offering one day conference space for like $100. Not sure that there are enough businesses in town that would take advantage of that though. I would really like to create a membership type program for freelancers to come and work. That is a pretty progressive thinking for our area though.
Upstairs is roughly 700 sq and down stairs is the the same. Would need to add a full bathroom upstairs but other than that it would just need furnishings. I figured it up and I would need to make $800/month to break even after utilities and loan.
Looking for advice or additional revenue ideas from the space. It is a very unique building. Once you are inside you feel like you are in a bigger city and not in a small town.