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Commerical or residential property, which has more value?

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Commerical or residential property, which has more value?

In selling a property that is zoned commercial, but has been used as residential, which type will provide a greater selling price? 3 bedroom outdated home on 1/2 acre, several outbuildings, surrounded by commercial type buildings, a few small houses in poor shape that are still being utilized as residential properties in Burton MI.

Asked By Jacqueline M. | Burton, MI | 825 views | Tips Advice | 4 years ago

Answer(1)

Novice

Derek Bauer

Real Estate One

(51)

The most prudent way to determine this is to have a highest and best use assessment completed. I would recommend engaging a top-performing agent and/or local, seasoned appraiser to aid you in that determination. It would be difficult to answer that question without having that input, even based on the summary you provided. Good luck! -Derek

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