Vacant Lot zoned commercial

[Matthew Shay]

I am interested in a vacant lot which is zoned commercial, it is an outparcel beside a shopping mall that is anchored by Kroger. I am looking at a few different strategies if I buy this. I can sell this as is or build a "blank building" and allow another business to purchase this and modify it to their needs and taste. I am working with an agent who is also a builder and property manager that works 10 minutes from this area. It is going to need at least 15k of fill dirt in site preparation and the cost of the structure would be around $250k. I am still in the early stages of researching this and doing due diligence  but I was hoping to hear from the BP community if you have any advice and if someone already built a blank structure before without securing a buyer/tenant. BTW when I mention a blank building I mean a slab with foundation, water, plumbing, HVAC. Obviously there will be a difference in cost to do the plumbing for a casual dining restaurant and an insurance office

[Michael De Rosa]

@Matthew Shay One option would be to advertise the land for lease and say that you are willing to build the building to the tenant's needs. If time is an issue you could put up a building with a vanilla shell that they could then build to their own needs. Another option would be to just land lease the lot and let the tenant do what every they want with it.