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belllaruiz6, Home Buyer in Pineville, NC


Asked by belllaruiz6, Pineville, NC Tue Sep 25, 2012

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Main street in Pineville has never looked better. The Pineville Main Street values are higher than your request to purchase you need to rent if the Town will allow another salon in the Downtown area.
0 votes Thank Flag Link Fri Oct 19, 2012
Good morning, BellaRuiz:
Going after a specific property on the small three block section of Main Street of historic Pineville may take some creativity to accomplish, especially in your price range. A 1,500 s.f. building in relatively poor condition sold a couple years ago to the Charlotte-Mecklenburg Historic Landmarks Commission for $150/s.f. ($225,000) Several other buildings are historic and have special Historic Preservation restrictions.

To get into your price range, you should expect to be able to afford 350 to 800 s.f. of space. Commercial loans generally require 20% down payment and the term is fairly short. $25,000 down payment and $1,700 a month payment would not be unreasonable. Since there are few buildings this small, you can 1) purchase a more expensive property and become the building owner and landlord and sublease space to tenants or 2) buy an existing building and convert it into a commercial condo and sell off individual units (which is complex and costly), or 3) you approach every existing building owner look for space to lease in someone else's building..or 4) you look in a different location.

Whatever you do, you should verify with the County that you are in a properly zoned location for your business and that there is sufficient parking. If you are serious about owning or leasing, you should work with an experienced commercial real estate broker. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Wed Sep 26, 2012
Give me a call or email me and I can help you find something.

Abby Nelson
0 votes Thank Flag Link Tue Sep 25, 2012
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