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Updated about 3 years ago on . Most recent reply

User Stats

49
Posts
25
Votes
Thomas Shepard
  • Rental Property Investor
  • Cookeville, TN
25
Votes |
49
Posts

Commercial Use for 4-Unit Multi-family Deal in Cookeville TN

Thomas Shepard
  • Rental Property Investor
  • Cookeville, TN
Posted

Last week we got a 4 unit multi-family property under contract in Cookeville TN. It's right in a downtown area that is desirable and accessible to a growing community. The 4 units are actually 2 single family 3br 1ba houses and 1 duplex with a couple 2br 1ba units. Currently the duplex is vacant and the houses are rented but long time tenants way under market rents. The property is currently residential but zoned for commercial use as well if we choose to stop using it as a rental property. Right now, I'm trying to figure out best and highest use for the property.

Does anyone have recommendations or contacts who can help me learn more about how the property might be converted into commercial space? How do I go about assessing commercial lease for the property? Do I find a commercial broker to help with this?

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