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car dealership leasing land?
I wanted to ask if it is customary for car dealerships to lease the land they operate on? I have no idea what car dealerships bring in monthly so I am not sure if they could afford a lease.
I am looking at 1.8 acre parcel where auto work and sales is permitted in the bylaw. If dealerships are interested in leasing to operate their business I imagine the leases are triple net?
@Rich Hupper
It's pretty common for car dealerships to lease the land they operate on. Triple net leases (NNN) are standard, and they cover taxes, insurance, and maintenance.
For your 1.8-acre parcel, if it's zoned for auto work and sales, you're good to get started. Also, dealerships prefer NNN leases because it gives them control over the property while freeing the owner from many responsibilities.
Crush it!