Just outside of town, hell of a deal. So far people here have suggested a car lot, a wholesale scratch and dent appliance warehouse, flooring store. Would love input and ideas!
What town?
Why do I increasingly encounter posts about people who bought land and now contemplate its use?
In any case, I recommend subleasing it rather than engaging with it directly. Let the value appreciate and collect rental income
Build storage units. Or climate controlled vehicle/boat storage. Enjoy long-term appreciation and short-term cash flow every month.
Best is start cross dock warehousing if it has a semi dock
Mega church. Big money maker
Turn it into a co-working space and build it into a community of long-time paying customers.
You work to live, not live to work.
Sell it or rent it. If you have no debt on the property, just get it rented. As many people have commented, commercial space is abundant.
You have to aggressively undercut the vacant market, but if you acquired this parcel for actual pennies on the dollar, undercut the vacancies by 25-50%, get it rented long-term, and just collect.
If you have to ask the question, “what kind of business should I start”, I strongly suggest you not take that avenue.
Does it have a fenced in yard? Storage facilities are free money once you get it fenced in.
Just outside of town you say?
Strip club ( ͡° ͜ʖ ͡°)
Setup small rooms, like an IKEA warehouse, and rent them out to OnlyFans creators by the hour.
either rent it to another business or get some passive income by offering storage for some things like expensive cars, campers, boats, etc
Don’t start a business there rent this building out to some one else and start a lean business in which you can invest the money from the rented building and you can grow it until the business is self sustaining and then you can shift it to this building.