So I'm still working on this crazy idea of opening an indoor karting facility. I have found what I believe is the perfect location. I've got someone I know who is a commercial real estate agent investigating it for me. It is dirt cheap for the size and location, in an area where noise will not be an issue, and has very easy highway access and is in an area that will be growing with the city's new land use plan, but lies just outside the city.
For an idea of how cheap it is, it is 1/3 the price, but 2 more acres than a piece of property on the other side of the intersection that is in the city boundaries.
Would this be a wise investment? I'm still waiting to find out if anything is wrong with the property and I won't do anything until I know the full story. But if everything checks out, is it worth it? I can't see the value doing anything but going up in the future. Of course I am going on gut feeling right now too...
OK. Found out there is some wetland there, but getting more detailed info. There wasn't any wetland survey done on it yet.
Have a full environmental survey done of the property. Comercial property, especially industrial buildings, have taken amazing amounts of pollution over the years, before anyone thought of the impact of it. The environmental survery will tell you about what's in the dirt at the place. A friend of mine recently bought an old anodizing plant. It was quite the involved process, but everything worked out and he got a killer deal on a nice piece of property.
If you have a realistic business plan, and it makes sense, go for it.
FYI - A local company (stratoskarts.com) builds kart fleets for rental facilities, so they may be worth calling to help estimate that end of your business expenses.
I was a bit surprised by the high sticker price of their new karts, but they also sell the pre-owned concessions carts that come back when they ship new ones.
I do Phase I Environmental Site Assessments for a living. One red flag is cheap priced property. And your realtor isn't going to check into anything that is going to cost him a commission. This is up to you to handle.
SVreX
MegaDork
12/12/13 6:48 a.m.
You never said what it's previous use was (or the surrounding properties).
Can't give any feedback without that.
Currently empty field. Next to nothing and across from airport. I've decided to pass though after talking to some who know the area better and there are better options right now. Thanks for advice as always!
balbowhite wrote: It sounds a bit different for me, so why don't you do one thing?? Now a days people used to go for a environmental survey for there property, so why don't you try for this?? If in case there would be anything then you'll get the point to have it clear from the other party!!,
Was this post translated from another language? 
