OT: What is a monthly shop rental rate.

Gun guru

Well-known Member
I have been thinking about asking my neighbor to the north of me who owns 20 acres if I can buy 2.5 acres from him. The 2.5 acres I would buy is adjacent to mine and is all wooded, but is an absolute mess due to Emerald ash borer and dutch elm disease (many dead trees) It would give me a chance to clean it up if I owned it. And if I bought this land I would clear out an area for a medium sized pole shed with 100 amp power and then rent out the shop for X amount. That is my question, what is a monthly shop rate for renting a pole shed that has power with cement floor? My thoughts are that if I rent out a shed it could pay the property taxes. The guy that owns the 20 acres is 76 years old now and still gets around well but I would like to lowball the guy on the property so that I can clean it up. I dont know what to offer the guy for the property yet but it will come to me.
The shed I would build would be maybe 30 x 60x 10 or 12 high. Gravel driveway for approach with 2 bay doors. Basically a small wood shop or machine storage, like snow removal equipment.
 
$.50 to $2.00 per sq ft per month around Houston TX.
Put up a sign and an ad in your local paper "will build to suit". If their is any demand for rental space this will let you know if and what kind. You should also be able to find a tenant and get a lease signed contingent on final construction, take that to the bank to finance your project if you need to. You need to research your local market and see if what you want to do even makes sense. Do you know a local Realtor? Go buy him/her lunch and pick their brain. Don't build it and "hope they come".
 
First of all, you have to find out if the 2 1/2 acre parcel can be sold/subdivided from the 20 acre parcel. There may be minimum size acreage rules as well. You also have to look at permits and set backs etc., etc. What kind of power will it have? A good shop like that with a cement floor will take a lot of rent to pay for the construction. If it has no heat, you wouldn't get a lot of rent for it. A tenant could pay for the heat but you'd still have to install the furnace and gas lines etc. Then there's no guarantee that you'll be able to rent it. Sounds like a lot of money to spend on hoping to have a long term tenant. Dave
 
I get $300/mo for a 28X46X16 stick build w/ 200 amp service, fully insulated, oil heat. in Terre Haute.
 
There are an awful lot of vacant industrial & commercial buildings in Michigan. And if you are in a residential area, the zoning would be "interesting".
 
Actually there are a lot of people that would pay a small fee to store a boat or other equipment. Several years ago a guy paid me $100 to store his trailered Jet ski in my garage.
 

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