Repurpose Existing Commercial Property

[Reggie Rearden]

I'm in the process of trying to get the ground work laid to purchase an old grocery store (vacant for 3 years) and repurpose it to create commercial leasable space. I've been in contact with a local lender already and I'm stuck at my next move. The question is do I keep running around trying to meet with local Planning Dept, Fire Marshall, contractors for estimates, etc., or make an offer contingent on the following:

HVAC

Asbestos concerns

Local Planning and Development Department

I've ran out of leasable space at my current building (4 current tenants) and have been contacted several times by small businesses needing space. I see this as an awesome market for my area. Any experience or guidance is always appreciated. This property is in South Carolina. The building is listed approximately 35% higher than market value according to the county records and comps.