I have an acre of land with a house and garage on it. It appraised for $200K. I am now zoned commercial. What can I expect to get for the property?

Asked by Garydcop, Marysville, PA Thu Jun 30, 2011

I have been approached by a contractor that wants to put in apartment buildings. I have been told I should at least double the appraised price since he will make a ton of money on the property.

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Adriana Esco…, Agent, Clermont, FL
Thu Jun 30, 2011
I am not familiar with your area, as I am from Orlando Greater area, Florida but, I suggest you hire a Real Estate Professional that specialize in Commercial Properties, to help you establish the actual value of your property prior to entering in any negotiations with a buyer. Your newly rezoned Commercial Property maybe worth more than $400,000 and a Realtor will provide you with a free Comparative Market Analysis and put in place a marketing plan that would capture the best possible price for it.
When hiring a Real estate Professional, you should interview at least 3 agents and have a set of questions prepared in advance. You should pay close attention to their presentation and choose the one most suited to your needs.
Commercial Properties usually have a much higher value than Residential Properties, depending of location and market but also may need a little extra time in order to sell.
I hope I was of some help,

Adriana Escoto, Realtor
RE/MAX Navigator
Cell (001)352-255-6009
Fax (001)352-242-4758
219 Citrus Tower Blvd
Clermont, FL 34711 USA
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