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How To Find Mixed-Use Development for Sale

Table of Contents

Many residents prefer walkable communities so much that the property values of homes and apartments in “15-minute cities” (where you can walk practically anywhere within 15 minutes) have skyrocketed in recent years.

Some businesses also like mixed-use developments because the areas tend to have high levels of foot traffic. Although pedestrian foot traffic fell by approximately 88 percent at the beginning of the pandemic, the rate has started to recover.

Many cities are updating their codes to allow more mixed-use developments that combine commercial and residential spaces.

When you consider the potential return on investment of mixed-use properties, it makes a lot of sense to add them to your portfolio or develop relationships with current owners that will want to sell shortly.

Before you can earn revenues from mixed-use development, though, you need to know how to find mixed-use property for sale. Even better, you should know how to identify off-market mixed-use developments that will probably get listed within the next year. That way, you can contact owners before they decide to sell, giving you an advantage over competitors in your area.

Know What You Want in a Mixed-Use Development

Mixed-use developments can include a broad range of commercial and residential spaces. The most popular designs put storefronts on the building’s first floor, where pedestrians can easily access them. Residential units are usually located on the upper floors, where people feel more privacy than they would expect while living on the ground level.

You can find a lot of diversity even within this popular mixed-use model. Some properties have one floor of business space and two or three floors of residential units. Others have 15 or more floors dedicated to residential units.

In some cases, you can also find mixed-use developments that have small – or even large – offices on the upper floors. A business that doesn’t want walk-in customers might prefer using an office space that doesn’t offer easy access.

Other features to think about when deciding what you want in a mixed-use development include:

  • Security features (Do you want a security guard at the front desk or do you prefer a security system with cameras and alarms?)
  • Popular density (Do you want a property that creates a small “village” separate from the surrounding city or would you rather focus on properties in the city’s center?)
  • Distance to public transit (Would you prefer a location within walking distance of a train or bus stop, or do people in your area rely on personal vehicles?)

Make a list of the features that matter most to you so you can focus on properties that fit your interests and financial goals.

How to Locate Mixed-Use Developments for Sale

Once you know what you want from mixed-use properties, you need to find an efficient way to locate those that match your interests. You have several options, but some of them take much more time and effort than others.

Check Property Tax Records

Your local property tax assessor should have documents about mixed-use developments in the area. The documents typically list each building’s approximate value, square footage, number of floors and owner’s name.

Checking property tax records gives you a lot of information and most counties have databases that are fairly easy to use. Keep in mind, though, that these documents tell you nothing about whether the owner wants to sell. You will need to cold call a lot of owners before you find someone interested in working with you. Alternatively, you can send mailers and emails, which tend to take less time.

Regardless of the strategy you choose, don’t expect many responses. You’re casting a wide net to capture a very small number of fish.

Network With Real Estate Professionals

You might see other real estate professionals as competitors. That’s a smart approach to prioritizing your business goals. However, it doesn’t mean that you can’t work with your area’s real estate professionals, too. You can also view them as colleagues.

Network with real estate brokers, sellers and investors to learn about upcoming opportunities that have not been made public. When people know that you’re interested in mixed-use developments, they might reach out to you about emerging projects that will benefit all parties involved.

Use ProspectNow’s Commercial Database

ProspectNow’s commercial database gives you the most efficient and accurate way to focus on mixed-use developments that meet your specific requirements.

With ProspectNow, you can apply filters that narrow your list of leads. That way, you don’t waste time and energy on properties that don’t fit your portfolio.

PropsectNow can also help you find off-market properties up to 12 months before they get listed. The database uses machine learning and artificial intelligence to predict which properties will sell within the next year. It does this by looking at emerging trends and public information. Is a property owner losing tenants? Has someone missed a few loan payments? These and other events make it more likely that they will want to sell soon. Reach out to them soon so you stand out as someone they can trust.

You even get accurate contact information from ProspectNow’s commercial database. You don’t have to spend hours researching properties owned by businesses to find the contact info of a decision-maker. The database lists a real person’s phone number, address and email address to make outreach easier than ever.

Get a ProspectNow Demo to See How To Find Mixed-Use Development Property

ProspectNow has been around for over a decade (since 2008). The data you can get from ProspectNow is a lot more expensive on competing platforms. By using ProspectNow, you can close more deals and make more money! ProspectNow is a vital tool for business success in real estate or real estate marketing. Additionally, ProspectNow is trustworthy and easy to do business with and a provider of reliable data.

Do you want to see how much easier it is to find mixed-use property for sale when you use ProspectNow? Schedule a free demonstration today so you can experience all of its features.

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