I'm looking for Parking Lot Structures

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by a searcher from The University of Michigan - Stephen M. Ross School of Business
in Brooklyn, NY, USA

9mos ago

I'm looking for Parking Lot Structures

I'm looking to acquire parking lot structures in highly populated areas (i.e. downtown areas, near stadiums, universities, shopping corridors, etc.) If anyone has any connections or referrals, please share.

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reply by a searcher 9mos ago
in Massapequa, NY, USA

Metro NYC area only? Assuming you did the usual outreach, and taking the CRE advice from @danieltasman, I'd also keep an eye on tax deed and tax lien sales in the areas you're looking at. I picked up a tax lien on a paid lot in Nassau co. a couple of years ago, but it was salvaged before I could convert it to a deed. but lots of opportunities for metro-area lots. I also bought vacant land from the county by cold-calling them with an offer, so if you're not afraid of entitlement/ builds, don't be afraid to pursue town/county/state/city-owned land in prime locations, then converting it to a paid lot/structure. Sometimes it's just easier to create your own opportunity after you've exhausted the search.

reply by a searcher 9mos ago
from University of Michigan in Atlanta, GA, USA

I don’t know much about buying parking lots. But the last time I went to NOLA there was tons of poorly maintained and empty parking lots downtown in great locations. My WTP was driven my security, and I think that’s true for many people so adding basic things like lights and camera can bring those structures from the brink.