So I guess we’d only be in the red around $235,000.

I have already aquired the land and it is the right zoning but will have to aquire a couple of variances for setback which should not be a problem to get.

Hi everyone, I own a lot, approximately 1.27 acre in a prime location zoned mixed commercial.

Yes it's possible, but zoning and utilities could be your biggest roadblock - not to mention water in basement as mentioned by @Dave Spooner.

All that industrial space isn't highest and best use and so long term I could see more zoning changes and possible growth.In the end though, this going to be your primary residence and so I would pull the trigger in a neighborhood and building where you really want to live.

The only methods I can seem to find is opportunity zones.

Also, I look for commercially zoned (mixed use/STR apartments on top) that as less likely to be included in residential regulation. 

Now I more focused on residential zoned raw land to develop and sell to developers..

The original financing was challenging because the building was zoned residential but had been used as a commercial building with a conditional use permit for over 30 years.

Seems like mainly cosmetic as I saw sellers disclosure and nothing looked like a red flag.