Now is a great time to buy commercial land. During economic downturns, commercial land becomes very cheap. Once the economy improves, any construction completed will be much more valuable.
However, since it does take time to build, you will want to start your construction project early.
You should be aware that the use of commercial land does have certain restrictions, including following local zoning laws. Failure to comply with laws and regulations can lead to fees and fines.
Read on to learn more about what you can build on your commercial property.
What Qualifies as Commercial Land?
When searching for property for sale in Edinburg, you’ll find information about how the land can be used.
According to the Code of Ordinances for Edinburg, Section 50.01: “Commercial means any property, other than residential and industrial, providing services to the general public.”
What this means is that there are restrictions on what you can build on commercial land. You can ask to change the zoning on a property, but this can be difficult to accomplish. Instead, it is easier to ask for minor changes, like the maximum number of floors, compared to changing the zoning law.
Some areas of Texas allow for apartment buildings or rental properties, however, be sure to check if this is allowed on your property as this isn’t the case in some counties.
What Can You Build on Commercial Land?
Commercial land can hold any number of businesses. Businesses that can be built on commercial properties include:
- doctor’s offices
- retail space
- dental offices
- nursing homes
- law offices
- general office spaces
How Do I Know What To Build?
When you are looking at owner-financed commercial properties, take a look at the surrounding businesses and take note of the services already provided in the area.
For instance, you shouldn’t build retail space if there are already empty storefronts. You should also see what businesses are making money and consider offering a similar space.
High foot traffic should also be a big selling point. Having other successful businesses in the area can draw traffic to a new business.
A commercial real estate agent will know what sort of businesses are already in the area. They can guide you to the best land for your business or help you find a good spot to build.
Where To Find Owner-financed Commercial Property for Sale in Edinburg
When you are ready to start your search for land, Santa Cruz Properties is here to help. We have exceptional owner-financed property for sale in Edinburg and can help you find exactly what you need.