Purchased land in GA zoned residential mixed use, with site plans and other paperwork underway to submit to Planning Office.

Is it a pure investment or personal use mix?

Purchase price: $850,000 Cash invested: $212,500 61,000 SF Retail & Multifamily, Mixed-Use, value add property purchased at 9.83% Cap Rate.

@Andreas Thuresson short answer - probably more than it's worth.I assume this is a real commercial property and not a mixed use building, so a conversion does not make sense, you are looking at a tear down and rebuild, probably at about $180 per SF plus demolition and removal expenses. 

Hello Colleagues, I own a triplex in a mix-use zone near downtown, furnished. 

Hey @Michael Ratzken, the only certain downside to reducing the number of doors that I can see is reducing your built-in diversification (both in total # units and in unit mix). 

They sold the land for a mix of property/cash making part of the sale eligible for a 1031 exchange.BUT, they weren't alerted to this fact until a chance conversation over dinner with a VP of Tax friend of theirs.

I find it a nice mix between the two.If you got any questions feel free to shoot me a message.

Also heard mixed things about Rental Warehouse, such a big operation, if your PM is good you're fine but if you get a bad one not good, I have a friend out of state who takes a more hands off approach to her rentals, and RW forgot to rent a unit for > 1 month until she noticed, etc... 

Some reasons they might not be able to is your current mix of properties you own are apartments and don’t underwrite storage units properties.