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I kind of want this property
Old 02-15-2019, 11:20 AM   #1
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I kind of want this property

I came across a commercial building on a couple of acres right on a hwy we drive to go hiking and snowmobiling. Literally just a few hundred yards from the trails we ride all the time in the winter.

It looks like a nice solid building. Nice paved parking lot. Super cheap. They are asking $90,000 and it looks like it was last sold in 2007 for $140,000. Even in this area, building a 1600 sq ft building with power water, septic for $90,000 alone would be hard, ignoring the cost of the acreage itself.

I see no value in the current business, I just kind of want the building for storage and the parking lot. I would probably just tinker around with my motorcycles and sleds there.

Crazy right? I can't justify it to my wife so will probably not happen, but I still kind of want it. Heck, in that area you might be able to offer $70k for it. Practically free. Any idea how I could sell it to her as a decent investment?

Here is the listing:

https://www.johnlscott.com/search/listing/3546836
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Old 02-15-2019, 11:37 AM   #2
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[…]I see no value in the current business, I just kind of want the building for storage and the parking lot. I would probably just tinker around with my motorcycles and sleds there.

Crazy right? I can't justify it to my wife so will probably not happen, but I still kind of want it. Heck, in that area you might be able to offer $70k for it. Practically free. Any idea how I could sell it to her as a decent investment?
No, no ideas here. Based on your post, I don't even think YOU believe it is a decent investment.
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Old 02-15-2019, 11:44 AM   #3
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Buy it! Life is short and what else are you going to do with the money? Then let me know where it is so I can bring my sleds and moto's too! (EDIT: I checked the listing and I go up past that area all the time to ski Rossland/Kootany Pass / and Whitewater - yea, buy it!)
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Old 02-15-2019, 11:45 AM   #4
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Old 02-15-2019, 11:49 AM   #5
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Instead of selling it to DW on the idea of an investment, I think you need to paint a picture of what you'd use it for that will appeal to her. If you're looking at it as storage and tinkering, ...eh.
Could this be a vacation cabin when you go hiking?

Also what kind of insurance and taxes would you incur maintaining it (might knock out the "practically free" aspect.)
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Old 02-15-2019, 11:52 AM   #6
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Does it come with all that equipment pictured

You could turn it into a grow (only half joking)
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Old 02-15-2019, 11:57 AM   #7
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Turn it in to a weed smoke store
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Old 02-15-2019, 12:04 PM   #8
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Sell it as a place for fun, hobby, relaxation, meditation, entertainment as opposed to a place for storage.
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Old 02-15-2019, 12:06 PM   #9
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Tell her you're going to do a ton of physical therapy.

It is crazy how cheap that is, but I'm not in the least familiar with the area.
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Old 02-15-2019, 12:24 PM   #10
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If it's convenient for you, for snowmobiling .... I bet it would be for a lot of others. Storage racks to put them 2 high? Maybe enough room to store an additional 6-8? Make a little money making enterprise?
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Old 02-15-2019, 12:28 PM   #11
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https://youtu.be/7X5ljirnU7Y

Hey Honey, I found a way we can get some more storage in our garage and maybe make a few dollars too!
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Old 02-15-2019, 12:33 PM   #12
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Actually, with over 2 acres of what looks like flat ground there, you could gravel and fence off an acre or so and create storage for quite a few sled trailers. With the area having a ton of trails (I just checked on the WA snowmobile map and see there are literally hundreds of miles of trails within a mile or three of that area), you could advertise for people to keep their sleds up there so they didn't have to haul them from other parts of the state.

I wonder if you can live on commercial property? Is that legal?
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Old 02-15-2019, 12:52 PM   #13
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Looks like a pretty solid building. Steel roof is always good to see. And two acres. Agree with checking out carrying costs, insurance, taxes, utilities and what not. If you can get it below asking might actually be a legit investment depending on what else is going on in the area. A pied-a-terre of sorts while sledding.
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Old 02-15-2019, 12:55 PM   #14
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I can't justify it to my wife so will probably not happen
Sounds like your wife doesn't think it's practically free.
She seems wise.
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Old 02-15-2019, 02:26 PM   #15
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Is it commercial office space or concrete floored shop space? If it was a shop type space with enough room for a two post lift and a little machine and welding shop, I'd buy at $90k all day long.
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Old 02-15-2019, 02:48 PM   #16
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Id love to have something like that, and for 90k. Buy it!
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Old 02-15-2019, 02:49 PM   #17
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It looks like in this thread there is a clear division. The women tend to side with the wife and it being a bad idea while the men seem to be able to visualize all of the junk they could collect and store there.
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Old 02-15-2019, 03:05 PM   #18
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I wonder if you can live on commercial property? Is that legal?
Good question. I know if I spent 90k on a building I'd have to live there.
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Old 02-15-2019, 03:32 PM   #19
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^ I would check to see if you can live there. Regardless that is a great looking building and I can't see how you could go wrong in buying. If I was in your situation I would buy it. Please keep us posted on your decision.
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Old 02-15-2019, 03:44 PM   #20
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Figure out a way to make the investment break even. Rent out some of the shop space or storage, or parking lot, or whatever would make enough to pay for the place without undue effort and risk! At that price, you could always turn around and sell it in a few years if you don't really use it!
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