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Updated over 1 year ago,
Struggling to comp properties, houses zoned commercial in mixed use areas, MI & IN
I'd greatly appreciate advice, suggestions, insights when it comes to comping properties that are zoned commercial but could also be used as residences.....and look like a residential home. One was the local grocery back in 1950 that later was converted to 2 apartments and now is gutted down to the studs, and framed in for 4 beds/2 bath. Needs wiring/plumbing/HVAC as well as insulation, drywall, kitchen. Western Indiana.
The second one is in Northern Michigan, a home with LTR tenant in place, but right in midst of businesses next door and across the street. Does the commercial zoning add value in this case, as these sellers are claiming? And how do I comp these? Thank you in advance!