Highest and Best Use for 3.5 Acres Zoned Industrial?

[Account Closed]

I recently acquired a 3.53 acre vacant lot located in a county industrial park with easy access to power, water, electricity, etc.  It's located in a rural county in Nevada with ~ 10,000 residents.  I'm looking for ideas from more seasoned investors/builders/developers to figure out the best use for this property.  How much value is added to vacant land by just doing the basics of getting it professionally surveyed and getting utilities to the lot? 

I'm open to all ideas and suggestions.  Self-storage facilities seem to be booming everywhere these days, but I'm not sure the population of this county would support something like that.  Anyways, thanks in advance for your advice!

[Nik Moushon]

You are probably very limited as to what you can do in an industrial park. Check your local city codes as what the definition is and what are aloud building type/business types. Industrial is a lot different than business so depending on the city definition a storage facility might not work there or only under a special conditions permit. Also with a population that small you might be right that a S.S. might not be viable. You will need to figure out what your city is lacking and try to fill the holes or find something they didn't know they where lacking. Either way you either find or create a demand.

As for survey and stuff thats basically a waste of money until you are dead set on what you are going to do. It adds no value to the land and doubtful you would even break even with. Those types of things just come with dealing with developments. Bringing utilities in is basically the same thing. You might be able to up the sale price but you'd be lucky to break even, especially if utilities are not close by to begin with.

Oh and if you haven't thought about financing a new build you need to. It is not the same as financing a buy of a built building.