Two developers discuss a laydown yard project where zoning matters. The property was valued using residential comps, but it's actually commercial/industrial. Corrected comps show yard rentals from $6,000 to $6,500 monthly, or $0.05 to $0.25 per square foot.
can build this thing out to be laydown yard for parking, but I'd have to section it up so that the vehicles could get in and out.
What's it saying for the comps? So for the comps, it readjusted everything. So this one, it's assuming it actually looks like R-6, but for residential, but you just confirmed that it is commercial, but it's running numbers as industrial or commercial zoned iOS yards. So it ran some iOS yards nearby where their rents were between $6,000 and $6,500, and then a lot of their square foot per month was about 13 cents all the way down to like 5 cents with a high of 25. Interesting.
