In recent years, converting unused commercial property to residential property has been a trend to make use of already available resources. Stories of taking old shopping malls and making the store spaces into micro-apartments have gone viral. But there is value in the other way around as well. In some areas, especially historic or crowded urban areas, commercial property space is at a premium. One solution is to convert a residence into a commercial property business space. But how does one do this, and is it worth it? Read more to find out.
Asses the Residential Property as a Residence First
Residential properties and commercial property have very different zoning standards. There are some similarities, such as filing for permits, creating a layout, and registering an address. However, there are also some considerations you must look at before converting to a commercial property. For example, is the location of the residence in a primarily residential neighborhood with little to no businesses? If so, this may not be the best fit because converting to a commercial property will attract noise and traffic that can be disrespectful to neighbors. The residence must also be assessed by a building inspector prior to any decisions to make sure the residence is suitable to operate as a business.
Changing Zoning from Residential to Commercial Property
After a successful inspection and making sure the decision is worth it to convert, there are a great many steps you must take to begin the process. For one thing, not only the government needs to be contacted beforehand. You must also send notice to neighboring residences and businesses that you intend to open a commercial property there soon. Make sure to listen to their concerns about traffic and pollution and do something accordingly. This will help to get them on your side and perhaps become future consumers later in the zoning process.
Make sure to attend zoning board meetings, usually led by individual cities or counties. This will help you stay informed about commercial property zoning laws, which vary from city to county to state. Make sure to rewrite your plans as you go along since politics and laws often change in just a few years.
After you have gained support from the community, provided evidence on why you should rezone, and have all required permits and fees paid off, it is time to make your request to the government. If all goes smoothly and as intended, you should be in the clear to start your commercial property rezone.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.