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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that is zoned commercial, but has been used as residential, which type will provide a greater selling price? 3 bedroom outdated home on 1/2 acre, several outbuildings, surrounded by commercial type buildings, a few small houses in poor shape that are still being utilized as residential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 | 858 views | Tips Advice | Updated 2 years ago
Answer(2)
Amanda Courtney
REP Realty Group
It depends on location, demand, and income potential. Commercial properties often yield higher returns but require more capital and management. Residential properties tend to appreciate steadily and are easier to finance and sell.
- 4 days ago
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Derek Bauer
Real Estate One
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
- 4 years ago
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