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Updated almost 9 years ago,
Two properties zoned for comercial. Tear down or rent?
Hi, I have come across a seller who has two rental properties, that are zoned for commercial use. They are both 2/1 sfr about 900sf. They are worth about $70,000 each. They are trying to sell for $150,000 for the two houses, of course I will work on getting a lower purchase price. He currently has them rented out at $700 a door. They are located at the end of a C rated neighborhood going into a B rated area. They are also located on the corner off of a major highway. Along the highway are commercial businesses. The real question I am asking is, would this be something should be bought as a rental or would it be better off to have a business put on those lots? The houses are located in the Kissimmee, FL market.
Any response or suggestion would be appreciated.