I would like to buy a small vacant lot so I can erect a small warehouse and store stuff there. However, the problem is that people don't generally advertise the sale of small, empty lots with no utilities. How can I find a lot like this to buy?
asked May 27, 2016 at 0:21
-
2In what country?– user662852Commented May 27, 2016 at 1:53
-
5Have you tried contacting a local real estate agent? I would think that they should be able to help you find whatever you are looking to buy.– Ben MillerCommented May 27, 2016 at 3:26
-
1Depending on the country, ownership of lots might be publically accessible information.– PhilippCommented May 27, 2016 at 10:03
-
1Look in the urban-rural boundary area of your metropolitan area for farms for sale listed as willing to subdivide.– user662852Commented May 27, 2016 at 11:27
-
1If you're not already aware, you would need to check the municipality's zoning map to make sure it would allow a commercial use. Erecting a building may also trigger an increase in property taxes.– mkennedyCommented May 27, 2016 at 16:48
|
Show 3 more comments
1 Answer
The commercial real estate industry works a lot like the residential real estate industry.
There are private databases that brokers use to share commercial listings with one another. These are called Commercial Information Exchanges (CIE). The CIE system is analogous to the MLS system, though there are some differences in the way agents are compensated. Each CIE has a territory and a database of listings it manages.
According to the National Association of Realtors, there are 67 CIEs in the U.S.
There are also companies that market CIE listings to the public. One of the most prominent is LoopNet. LoopNet publishes more than 500,000 listings nationwide with filters for property type (land, industrial, retail, etc) and lot size and details on zoning.
To find small vacant lots to buy, you can search LoopNet or work with a real estate agent with access to a CIE.
