Looking for commercial land for sale? Then make sure you follow our simple tips below and you will be sure to find just the right deal.
First, you need to know the zoning and usage laws for land that you are considering. Not all commercial land is created the same. Every local government has zoning ordinances and usage rules that regulate how commercial land is used. Be sure the commercial land you want to buy is designated for the classification you want, such as residential, multifamily, retail, or industrial. If there is one thing to know before you start looking seriously at a piece of land, it’s whether it’s zoned for what you want to build.
Imagine if you find the perfect piece of land for a mixed-used retail center and discover before closing it’s zoned for residential? You went through a lot of hassle to almost buy a property you can’t build on.
Second, you need to do a lot of due diligence to find the best commercial land for sale. There are lots of properties out there, but many of them are money pits. Which one is the one that will make you money? Due diligence will tell you.
Some say in land investments that it is what you can’t see in the land that can become the issue. Some of the most critical due diligence issues are:
- Topography: Land is raw, and there are many variations. It is important to understand the topography so you know that it will work with what you want to build. Just because the zoning works for you does not mean that the land can support the structure you want.
- Underground: What is below the land is just as critical as what is on top. Test the soil to check for hazardous waste and look out for old wells, mines, and underground pipes.
- Utilities: What utilities are available? Do not assume that you have access to all that you need. Be sure to investigate so you do not have utility problems later.
- Size and shape of the parcel: There is plenty of land for sale that is cheap, but it may not support any use because of how it is laid out.
Third, always use a land advisor with years of experience in the area you are buying your property. This will ensure you are buying a property that will work for what you want.