Wholesling a Property Zoned for Commerical and Residential

[Bethany Orheim]

Hello! I am new to wholesaling in Dallas, Texas and I recently mailed my first campaign to a list of absentee owners. I'm seeking advise from seasoned wholesalers on a potential deal in Garland.

The situation - Her investment property is on one acre of land that consists of one 2 story home, two / 2-story garages, and one barn. She is renting the home to a family, the garage is leased to a landscaper, and the barn to an artist. One side of the home is accessible from a busy street and the other accessible side faces a residential neighborhood. The catch: the property is zoned for commercial but she was grandfathered in as residential when she bought the home. It seems like a great opportunity but I'm not sure where to start.

How would I run comps on this type of property? Nearby homes and town homes are selling for 215k. Everything I have studied over the past year has been related to wholesaling SFRs so I'm looking for advise on how to run comps and otherwise handle this deal. The homeowner wants 700k based on the size of the land and the property's potential. 

Any advise?