Land

Land

Explore available vacant land listings. Customize your search by location, size, zoning, and other key factors to find the ideal land for development or investment.

When purchasing vacant land, Three West can guide you through the following considerations, which are crucial for evaluating the risks and opportunities involved, especially given the longer time horizons and complexities involved in development:

  • Zoning and land use regulations: Verify the land is zoned for the intended commercial use (e.g., retail, industrial, office) and check for any restrictions or permitted uses that could limit development potential. Investigate any upcoming changes to zoning laws that may affect future use.
  • Location and accessibility: Assess the land’s location in terms of traffic, visibility, and accessibility for customers, employees, and suppliers. Proximity to major roads, highways, public transportation, and commercial hubs can impact the property’s value.
  • Soil condition and topography: Conduct a geotechnical study to assess the soil quality and topography, which can affect construction costs. Poor soil conditions, slopes, or drainage issues may require additional investment in site preparation.
  • Utilities and infrastructure availability: Check for the availability of essential utilities such as water, electricity, gas, sewer, and internet. If these are not already available, estimate the costs of bringing infrastructure to the site.
  • Environmental considerations: Investigate any potential environmental issues, such as contamination, wetlands, or protected areas. Environmental assessments (e.g., Phase I and II) can help identify liabilities that could increase costs or limit development options.
  • Permits and approval processes: Understand the permits and approvals required to develop the land, including environmental, zoning, and building permits. The timeline and complexity of the approval process can impact project feasibility and costs.
  • Market demand and development potential: Analyze the current and future demand for the type of commercial development you are planning. Research nearby developments and growth trends in the area to ensure the land has strong market potential.
  • Financing and holding costs: Explore financing options, as vacant land often has more stringent loan requirements than improved properties. Additionally, factor in holding costs such as property taxes, maintenance, and insurance, which can accumulate while waiting for development or sale.
  • Exit strategy and resale value: Consider your long-term plans for the land, whether it’s to develop and lease, sell after appreciation, or hold for future use. Ensure the land has strong potential for resale or future development based on market trends.