Disposition of Agricultural-Zoned .6 Acre

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Disposition of Agricultural-Zoned .6 Acre

Ginny West
Investor · Denver, CO · Member since 2016 · 10 posts · 0 votes

My parents have left their Denver property to spend their last years in an assisted living.   They are 93 and 87.

I am managing their home of 70 years which consists of 1 acre with a 4-bedroom, 2-bath home which needs updating, grounds, trees, a 4-car garage, a shed and an adjacent .6 acre lot zoned agricultural.   This house is very centrally located in the middle of north Denver but within 100 yard of US 36.

I am currently cleaning out the property for a friend who will occupy it for 2-3 months while her Loveland home is completed and she will be helping me clean, dejunk and do some minor repairs.    Beginning in January 2018, I plan  to rent the house and garage on 1 acre with a 1-year lease or more.

My question is about the agriculture lot.    What would be the best and most profitable use of this lot?   Is agricultural zoning desirable to our pot growing industry?   Would it be best to get it rezoned for commercial use?   Would a marijuana operation be interested in the entire 1.6 acres or just the land for a warehouse?

I have asked a realtor to give me some ideas but so far I have not gotten ideas or answers from him.

Thanks for your thoughts.

Ginny

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  • Matt M.
    Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    What city is it in exactly? Zoning will determine what's allowed. 1.6 acres isn't something that the MJ industry would get too excited about. They are doing significantly more in the Southern part of the State. 

    edit: Sounds like it's Adams county which has significantly limited marijuana businesses. They are capped at 10 now IIRC. 

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  • Kevin Grinstead
    Realtor · Denver, CO · Member since 2016 · 499 posts · 129 votes
    9y

    Hi Ginny, there are many possible uses with an agricultural zoning. You can look at the counties website to determine all that can be done there. If someone wants to buy the land they can use it for several different things or they can also try to have it rezoned as industrial to have more business options. Someone may want to take it and build a home there too. 

    You could also see if you can subdivide the acreage in to a few smaller pieces of land and sell it to multiple parties or you can hold on to part of it and sell off some of it. 

    It might be a good place for even a mobile home park. 

    If you can provide the county and maybe some pictures you couls get a better idea of what could be done with it. 

    It is unfortunate that the Realtor you talked to did not have any ideas. There should be a lot of options for either selling it or making a business on the land. 

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  • Bill S.Pro Member
    Moderator
    Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Ginny West:

    My parents have left their Denver property to spend their last years in an assisted living.   They are 93 and 87.

    I am managing their home of 70 years which consists of 1 acre with a 4-bedroom, 2-bath home which needs updating, grounds, trees, a 4-car garage, a shed and an adjacent .6 acre lot zoned agricultural.   This house is very centrally located in the middle of north Denver but within 100 yard of US 36.

    Ginny, The easiest route is to determine the allowable uses for the lot under the ag zoning and rent it to someone who will use it according to the zoning. The allowed uses for "ag zoning" varies greatly depending on the jurisdiction so no one can answer without knowing that. I doubt there is any MJ related use allowed but you don't know until you check. Long term the greatest value for the land is to get it rezoned and developed into some sort of higher use (industrial, office, warehouse) based on adjacent uses and market demand. Residential housing is not too likely due to the proximity to the highway and the associated road noise.

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  • Ginny West
    OP
    Investor · Denver, CO · Member since 2016 · 10 posts · 0 votes
    9y

    Thank you Bill.   I appreciate it very much.

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