Wwyd- commercial space

amother

OP ↓

Mon, Aug 19 2024, 4:37 pm

I (DH and I) have the possible possibility to buy a small shopping center with a bunch of empty stores. (There is nothing open in the shopping center anymore)

What would you do with the same? In a big Jewish town, a little bit out of the middle but
A pretty good location

amother

Steelblue ↓

Mon, Aug 19 2024, 4:44 pm

Why are the stores empty? How much investment is needed to renovate etc?
How quickly can you fill up the stores?

amother

Blueberry

Mon, Aug 19 2024, 4:48 pm

A charity second hand store

Where people drop off their donations.

Those that are developmentally disabled get job training working at store

amother

↑ OP ↓

Mon, Aug 19 2024, 6:05 pm

Let’s assume the space is in good condition and I have the money.

What type of stores would you want to see. There are very large size stores (like bed bath type). What would be a creative way to fill it? Not just another clothing store or restaurant. Not sure where I’m going with this but I feel like it can be used for something interesting

amother

Honeydew

Mon, Aug 19 2024, 10:41 pm

A drop in play type place for SAHM with occasional programming

singleagain

Mon, Aug 19 2024, 10:41 pm

What about a rec center or like a learning space? Maybe a play area for different age kids?

theoneandonly

Mon, Aug 19 2024, 10:59 pm

Are you looking to buy and then rent it out to other stores? Or buy and then fill the space yourself? Because those are two very different propositions.

amother

↑ Steelblue

Mon, Aug 19 2024, 11:14 pm

Are you buying the place and then opening a business? Or is the plan to rent it and make passive income?

If the latter I would want to know why the stores are empty now

amother

↑ OP ↓

Tue, Aug 20 2024, 10:49 am

amother Steelblue wrote:

Are you buying the place and then opening a business? Or is the plan to rent it and make passive income?

If the latter I would want to know why the stores are empty now

Either. Lots of options/opportunities available and want to think out of the box

amother

Tomato

Tue, Aug 20 2024, 10:54 am

act fast. if you don’t buy it, someone else will…

amother

Crystal

Tue, Aug 20 2024, 11:06 am

My question is why all these stores are sitting empty. If it’s not a popular location then you will need to open something exciting enough to pull people to make a special trip.

amother

DarkCyan

Tue, Aug 20 2024, 11:07 am

Which area? I was looking into opening a niche business and need around 10k square feet of space. I would love to contact you if you buy it

amother

Babypink

Tue, Aug 20 2024, 11:43 am

amother Tomato wrote:

act fast. if you don’t buy it, someone else will…

How is this good advice? Imagine rushing into this, shelling the money out and then staying stuck with this strip.
You don't rush into these things unless you know it'll pan out.

amother

Navy ↓

Tue, Aug 20 2024, 11:46 am

Was just in a Catch Air near Monsey, there is none near Lakewood, check if there are any in your area, that would be a perfect type of place to fill a big space. It’s an adorable indoor play space and was packed with people. They are a franchise company, so you can open one. Or you can do another such a style place on your own etc.

amother

↑ Navy

Tue, Aug 20 2024, 11:50 am

Maybe one of the bigger stores can be another branch of The Address if it’s far enough away etc. I’m not sure if they’d be for or against it, or again you can copy and do something similar.

One can be a kosher gym? With a pool?

And then yes you definitely need a food store or 2 and maybe a toy store.

Are most of the stores big like bed bath & beyond, target style? Do you want to fill with only Jewish stores? Can you possibly cut up the big stores into smaller ones?

amother

Slategray

Tue, Aug 20 2024, 12:06 pm

You need a grocery or similar that will automatically have traffic as an anchor. Then other tenants will want to rent if they know plaza will be busy

tweety1

Tue, Aug 20 2024, 12:22 pm

If you're in a position to buy it, get off imamother and consult with a business/financial advisor. They are the professionals