Commercial Ground Lease Feasibility?

[Thomas Hallowes]

My family owns a valuable piece of land (10 Acres) on the St Johns River south of Jacksonville.  I would never sell this property due to family history but might consider doing a commercial ground lease for a condominium or town home community.  Is this a common practice for this type of community?  My thought was to receive a condo or town home and dock slip for each of my family members (with all taxes and fees paid by developer) plus a monthly payment in exchange for the land use.  Any thoughts on this scenario?

[Derek Carroll]

You could also partner with a developer for the site and thus keeping the land and any improvements in your family portfolio.