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Updated almost 9 years ago, 02/15/2016
Help me decide "best use" for a lot next to my new building.
I am purchasing an 11 unit building with two unpaved lots directly next door. All the tenants use one lot for parking with more than enough room. What are some ideas I can do with the other unpaved lot to maximize profits? Neighborhood is a C. Building surrounded by a Century 21 office, Restaurant/bar, and large hospital. For size estimates, consider a rectangular area with space for 14-16 cars with a central lane for entrance/exit. I'm not sure if it has any additional zoning other than residential...
Build storage?
Pave it and rent to zipcar or an adjacent hospital or restaurant?
Sell the lot?
Build more units?