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Updated over 4 years ago,
Empty storefront rental idea
I'm interested in buying an investment property with a storefront about 1000 sqft and a 4br residential dwelling attached to it. There's a LT tenant currently living in the residential apartment but the commercial space has never been rented out for the past 2 years. I'm not sure if the owner even tried to rent it out. Area demographics: half is Spanish speaking, median income is about 38-40k, 40% white, 22% black, 21% latino. I need to find a way to utilize the storefront since I doubt I'd be able to rent it out in this COVID market. I was thinking about converting the storefront into a small storage facility but I'm not sure how that would work yet. Anyone has any idea on how I can rent out the small commercial space?
This would be my very first investment property! Id really appreciate it. Thank you.