Commercial Property – Empty Car Dealership Dilemma and Opportunity

With the collapse of the Auto Industry both General Motors and Chrysler culled a huge number of auto dealerships throughout our nation. These vacant buildings are very hard to lease, and the properties not very easy to sell Autotrader Manage Ad because these buildings are so much different than other types of business. Basically you have a piece of property with a giant parking lot and a big glass building that isn’t much use for anything except a car dealership.
Oh sure, it can be used to sell boats, golf carts, electric cars, high-end sports cars, motorcycles or something of that nature. But right now during the recession not many of those types of businesses are expanding and actually those industry subsectors have also been hurt very hard. It doesn’t appear that any of them are going to recover before 2010.
What property owners can now expect is that old closed car dealerships properties will remain vacant until mid-2010 or longer, while the properties weather and decays. Of course, for those companies that need a piece of property, it does make sense to buy up an old car dealership, scrape the property and turn the entire lot into something else in the future.
Of course, that also means buying now while the prices are low and sitting on it for a couple of years. Is it a good investment, yes probably. That is to say if there are no environmental problems at the car dealership before it went out of business. Remember car dealerships also have auto garages and they work with many greases, oils, and environmental hazards, which could have seeped into the ground.
The cost of environmental cleanup of some of these properties is going to be rather insane and perhaps even prevent them from ever being sold again until the government decides Using Social Media For Car Sales to do something about them and clean them up. Unfortunately, this will be at the taxpayer’s expense. Please consider all this if you are looking to buy commercial property.

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