Ideas for best use of 3000 sf space

[Greg Rusianoff]

I recently acquired a 2 story cinderblock building. Total sq. footage is about 3000 with 1500 on each floor. It's located in a troubled but gentrifying area of North Charleston, SC. Very close to low income homes. Accross the street from a strip mall. Trying to figure out what to do with it.

My goal is to create passive income.

I was thinking self-storage or even document/record storage, but it seems that the space is too small for that.

Another idea is laundromat on the bottom floor and something like a barbershop on the top floor. But I think that would involve a lot of equipment purchases, not sure if a laundromat is a good business.

Also thinking about turning it into a restaurant, however that's far from a passive income business...

Looking for ideas...

[Jean Bolger]

If it's a big open space with limited finishes at this point, and in a rough but possibly on the way up type of area, I would consider turning it into artist work studio spaces. Of course, this depends on whether there is demand for that, but there is demand in most reasonably sized cities. That would be very low cost to get set up relative to other uses and might just help propel the area in that gentrifying direction, making the property more valuable to you for another use in the future