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Updated almost 8 years ago,
Question for Realtors on marketing multi use property.
Hi BP,
I have a question for creative marketing Realtors. I have a small marina (24 boat slips w/ storage units) that are on Lake LBJ. The developer recently found out that he has cancer and needs to get out from under the property and is not able to complete the project. At this stage from a boat slip rental perspective the cap rate is only about 5% but it could potentially be 12 lake front town home/ condo lots with two open water lots, it could be used for RV spots, or it could be a commercial bait shop/ lake front restaurant (currently there are no restrictions, property is in an un incorporated town). The problem is when I put it on the MLS or loop net someone just flipping through will overlook the potential when they see the low cap rate is. I guess my question is, "How do I market a properties potential?" Thanks in advance!