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Updated over 5 years ago,
Undermined Coal Mine Property Development Poential
I've got a property that I am interested in that was undermined with a room and pillar coal mine back in the 1920's. There is an existing income stream that I am interested in purchasing that goes with the property, and I am just starting to look into what I can do with the remainder of the property.
I'm well versed in land development but don't have any experience with undermined property. The property is located along a major interstate on an exit ramp albeit in a more rural area. I could easily see a future opportunity for a gas station, self storage, smaller commercial warehouse, etc., but I know the undermining will affect the attractiveness of selling later down the road for that. The state offers subsidence insurance (even for new development), but it is capped at $500k (could cover a smaller metal warehouse building etc, but not a gas station, hotel, etc.)
Anyone on here ever develop an undermined property? What did you develop? Tips, problems, issues, concerns, advice?