Developing Corner Lot - 70000 Sqft Mixed Commerical
My brother and I are looking into developing a pretty hot corner in Wisconsin in an area that is developing very fast. We have approached McDonalds which has expressed an interest as well as a local bank and another fast food restaraunt. We also believe Walgreens is trying to bid on the property as well. Being absolutely new to commercial develpment, what is a good way to put together a pro forma to analyze the costs, timeline and potential profits in such a deal. We have a bank interested in backing us along with a builder/developer that is interested in partnering. I have equity of up to $1MM in multifamily properties in Southern CA that I could cash out if it looked promising. What would you do? Any comments or suggestions are appreciated.
If you never have tackled this big of a deal maybe you should hire a expert. I would.And mc donalds etc will.
Good Luck[ Edited by joel on Date 01/19/2005 ]
Do you have site control now?
If you can sign up Mikey D's or Wallgreens or the bank you should be able to do this deal with none of your money.
Time line and profitablity depend on the details. I'm not sure what you are asking.