Commercial Store Front/Warehouse ideas?

Question

Have about 3000 sq. ft of store front space in a heavy traffic area zoned for retail/office.  I've been using CL and Facebook adds and had some serious inquiries, but the space has been vacant since a used furniture store left.  I was going to try to rent spaces for antique, crafts and second hand items, but this hasn't materialized. We also have plenty of parking, but the area of town is a little depressed and one block down from the main drag, but it is close to the hospital and local Fairmont State College.  I've been trying to beautify the space, add a bathroom, flooring and paint.  I would like to split the spaces up unless a strong renter comes in to take the entire space.  In addition, we have plenty of warehouse space in the back for storage.

I've also considered building a kitchen so I could rent to a restaurant or adding barbershop booths to rent out.  Fortunately, we've added 8 apartments in the building, so I'm not ultra dependent on one tenant, so I can be a bit choosy.  I've also even considered adding my own business such as a coffee shop, but any restaurant requires architect plans and inspections and most likely an ancil system which costs minimum 10 to 15k.

Finally, I am considering adding wi-fi and front desk and somehow section off or partition spaces, either with drywall or pre fab removable walls for offices.

Any suggestions would be helpful.   Thanks-

Mav Larson · Answer

I own several similar spaces. What has worked for me was going to local farmers markets and seeking out vendors that are ready to expand into a brick and mortar. They usually have fewer resources though and even sometimes needed guidance on permits, buildout, etc. I've gotten 3 quality tenants this way: a bakery, a wood fire pizza food truck company, and a Mexican food truck company. The pizza food truck company uses the space as prep and storage area for their multiple food trucks and the Mexican food truck company opened an actual restaurant. There are lots of farmers market vendors in my area though - it was easy to find the ones that had the drive to expand. Not sure if your area has markets like that or not but good luck and hope this helps.

Ash Patel · Answer

In spaces like this, I have had great success with CL ads. Out of curiosity, how are the FB ads working? I once offered a guy a commission if he could get a retail space rented. He put over 300 CL ads out in multiple states and was successful. He targeted a ton of different businesses, dog groomers, classic car showroom, warehouse, thrift store etc.

My opinion is I wouldn't tailor the space to a particular type of business. Let the tenant decide and take the buildout off the rent.

My opinion is I wouldn't tailor the space to a particular type of business.  Let the tenant decide and take the buildout off the rent.

Paul Ashworth · Answer

@Joe Pitrolo I would just "white box" it. Meaning you rehab the space with new or renovated HVAC, plumbing, lighting, roofing etc. Bring it up to code. Renovate the exterior so that it is clean in appearance and can easily accept the tenants awnings and signage. Definition that I snagged from Google is below.

Honestly, hire an architect to guide you. Better to make educated decision now and not spend money where it is not needed or should be spent. You will need one once you want to file for construction.

White Box: The interior condition of either a new or existing building or suite in which the improvements generally consist of heating/cooling with delivery systems, lighting, electrical switches and outlets, lavatories, a finished ceiling, walls that are prepped for painting, and a concrete slab floor. Also called a "vanilla box".

Joel Owens · Answer

Looks okay on the inside. Outside looks like crap. Wouldn't exactly draw in a quality tenant wanting to make a great impression on their customers.

What about a chiropractic office? I have seen those do well in older buildings before. Also a nail salon can be another good one.

Being close to the hospital all kinds of doctors want to be close to those areas. The patient can go to them for less critical items and if the patient needs referring the hospital is nearby.

Joe Pitrolo · Answer

Fb adds working good for residential rentals, not as much commercial so far. I may need to target some business groups l.

If you know the guys contact , let me know. I may hire an upwork person. Thanks for the advice

Commercial Store Front/Warehouse ideas?

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