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Updated almost 9 years ago,
Home is zoned Highway-Commercial
So i've got a home that i'm purchasing in Springfield Missouri on S Scenic Avenue to hold as a long term rental. I just heard from the appraiser today that the home is zoned highway-commercial. Below is what the appraiser said.
"I talked with the zoning dept. The Highway-Commercial zoning considers this house to be legally permissible which means it can be modified, built on, etc. It isn't a "Grandfathered" or legally non-permissible situation. However, it must be rebuilt, as a house, within 18 mos if it should be destroyed. After that it has to conform to present zoning. That is a wrinkle I hadn't seen. The only problem I can see, is the lot size is really small. I tried to call the Building and Development Dept and got VM. I've had the hardest time reaching people on this one ever."
Should this be a concern for me? How does this affect the value of the property? Any other concerns that i should have? Any Springfield, MO investors out there have experience with this?