6 Tips When Looking To Purchase Land
The following are a few of about 40 checklist items we typically cover in our due diligence when assisting clients:
- Zoning/deed restrictions - Be sure any applicable zoning or restrictions allow for your business use
- Access - The property needs to be easily accessed from major thoroughfares and delivery trucks should be able to navigate the roadways to your warehouse
- Taxes and POA’s - Compare property tax rates as MUD’s and other U.D.’s can increase the tax rate significantly. Also Property Owner Associations may assess annual fees to keep the property mowed and cover some common electric
- Elevation - While many properties lie outside 500 and 100 year flood zones, they still may hold water after heavy rains or get run off from adjacent property. Do your homework, interview adjacent property owners and get a good topographic survey
- Detention - In many counties, the Flood Management District will require a developer install storm water detention onsite to control water runoff. This can eat up 15% or more of your useable area. Some master planned business parks have the detention in place for the entire development and your land could be used entirely for your improvements with no detention required
- Utilities - A buyer needs to confirm that his prospective site has access to sanitary sewer, water and storm water outfall. If a water well and/or septic system are to be used, be sure all required installation distances, spray field, and local government requirements can be met
Looking for Warehouse, Office or other space in Houston of elsewhere?
Centermark Commercial Real Estate specializes in Industrial and Office in the Greater Houston area. CCRE is the exclusive affiliate broker for WarehouseFinder.NET in Houston, TX.