Real Estate

[kevin_standlee]

The vacant lot next to Fernley House has a new For Sale sign on it. I inquired about the price. "$105,000."

"What!"

"It's industrial, with water and sewer hookups."

"I know; I live in the house right next to it. Okay, thanks."

I might give $10,500 for the 150 x 150 foot lot, but not ten times that much. I guess I should be happy that it's so overpriced. I think it highly unlikely that anyone would buy an undeveloped lot (even with water/sewer in place) with houses on three sides of it, even if it is zoned industrial. There are much better pieces of actual industrial land in this city, without annoying neighbors.

Comments

[rono-60103.livejournal.com]

Keep an eye on it. If it stays on the market long enough, maybe the owner will realize the price is too high.

Of course being in an officially industrial but practically residential area probably throws the valuation out the window.

[kevin-standlee.livejournal.com]

Yep. We heard that the guy who owns the land is convinced that Fernley is going to Boom Boom Boom and he's going to make a fortune. I don't think this land is where that fortune would be made. Mind you, if someone does buy it to build something industrial, we may be in trouble.

[billroper]

Yeah. When did the zoning for the lot become industrial? Is that easy to find out?

[kevin-standlee.livejournal.com]

Oh, my house is also zoned industrial, as are all of the other houses around here. Fernley is only about 12 years old as a city, and when they incorporated, they zoned the entire "old downtown" as industrial, including all of the existing houses. That actually ended up costing me roughly $20,000, because when I went to get the pre-approved loan on the house when I originally won the bid, the lender (whose literature was inside the house) said, "Oh, that's industrial property; we won't loan you the money." By the time I got financing, the price was $20K higher.

We're in an "industrial" zone that is mostly houses and one small apartment building. I really don't know what the city actually expects to happen here. The one good thing is that if we did want to set up any sort of small business, say out of our garage, the existing zoning permits it.

[gridlore.livejournal.com]

Perhaps speak to the town leaders? Seems ridiculous to keep that area zoned industrial when it has become residential.

[kevin-standlee.livejournal.com]

It's the other way around. They imposed a blanket industrial/commercial zoning on an area that was housing, small shops, small industry (an auto shop and a woodworking business) and large industry (that big plant you may have noticed down the street when you visited; they make diatomaceous earth products like kitty litter). It didn't "become residential;" it was already partially residential.

I interpret the zoning to mean that any existing building that was there when the city incorporated can stay, but you can't build new houses on the existing lots. If I wanted to build a new house in place of where I live now (I most definitely do not), it would have to be a "all but one wall" rebuild, I suspect.

The city has noticed that the zoning from the initial incorporation is, er, less than ideal. Maybe I should try and go to planning commission meetings.

[rono-60103.livejournal.com]

Yea, I don't the that having something industrial go up next to you is going to end up like the people who build next to the hog farm and then complain about the smell. (Or, to move my references back to Chicago - those who build/buy on the established flight path for a major airport and complain about the noise).

However, is there even a practical industrial use for such a small space? Commercial - including dirty commercial like auto repair - might work, but industrial usually likes more space I thought.

[scott-sanford.livejournal.com]

In Portland Oregon part of an old train yard was removed to make room for expensive condominiums. People were apparently surprised that trains still used that big train station next door; I never heard of anyone who was sympathetic.

Being in place when a nuisance neighbor arrives is one thing; moving in next to the noisy thing and then complaining is quite another.

[kevin-standlee.livejournal.com]

We're having difficulty thinking of a use for a space 150 x 150 feet. Lisa also thinks that an auto shop of some sort would work; however, there's another auto shop one block away, and Fernley seems sufficiently well stocked with such things. A machine shop is possible, but there's already one nearby, and not a lot of demand for more.

We don't mind the Celite plant down the street, but I'd be dismayed by someone building messy right next door to us. The reason we'd want to buy it is to keep it from being developed, or maybe to build a large garage in it in which our high-clearance vehicles (Lisa's van and my RV) could be parked under cover.

[lindadee.livejournal.com]

They paved paradise and put up a parking lot. Joni Mitchell foy the young'uns.