Would like some opinions please....

[Novaguy65]

Hey guys,

I have a question and would like everybody to weigh in with thoughts, concerns, opinions, etc. I have been planning on building a new shop/office/apartment for the last couple of years. I have it mostly planned out.....and then it happened. Thanks to someone on this board(who shall remain nameless I started thinking. In town is the old Chevrolet dealership. They built a new building on the highway and left the original. I can get into either setup for approximately the same $$. The dealership has TONS of character and the shop isa almost ready to work in. The office remodel would take a bit. I am REALLY concerned about the difference in energy efficiency between the two options I am looking at. The new building would have infloor heat, solar, and wind power, newer doors/windows and better insulation. But I can picture the dealership all redone.....I have an old Wayne gas pump for the showroom, put up some neon lights, placards, etc. I know this is a long read, but I thought the folks here would give me some direction and guidance. THANKS IN ADVANCE!!!!

Greg

 

[Stuart in MN]

Are you including in the cost any repairs the dealership may need before you can move in, or is it in generally good shape (i.e. how old is the roof, etc.) If it were me I'd probably go for the older building. I suppose you can improve or upgrade things as time and money permits.

What town are you in? Maybe I've driven by the place before.

 

[Novaguy65]

The roof was redone 6 1/2 years ago and has warranty until 2009. It is pretty structurally sound. The doors and windows are older and I would assume pretty drafty. I am including money in the purchase of the building to remodel the living space.

 

[cranejon]

Be absolutley certain to get a level 1 environmental report on the old dealership. Underground tanks? If you do not secure a due diligence you could be in for some major expenses for remediation. Check with a good real estate attorney.

 

[Novaguy65]

They have documentation of when all the underground tanks were removed(80's). Any more ideas/concerns?

Greg

 

[REFLEXX]

I didn't vote, 'cuz I've got another direction to consider.

Why not build the new place to look like it's got "character." That way you'll have the best of both worlds. It would take care of all your concerns, but might cost just a little more?!?

 

[oldgoat]

I'm thinking more along the lines like Reflexx. A new building with the energy saving devices in it and built the way you want is going to save you a ton of money in the long run. If need be try to design in the character that you want or be able to add it later on as the money becomes available. Converting the old building to save the energy will end up costing a fair hunk of change and it is easier to do it right from the start than going back and retro fit.

 

[wythors]

How old is the old building?

 

[DANNO]

I voted for the old dealership, but that's just an emotional vote since I would like to do that very thing someday.


Dan (who himself needs renovating)

 

[milly]

I like the idea of the older building. I know that the new building would be more energy efficent, but you would be doing the cummunity a service by using an existing structure. There are several empty buildings in my area that sit unused that would be great for a large shop area. Nothing makes an area look depressed like empty business buildings. I bet if you talked to the city council/board, they might be willing to help out in some way to get the building up and running. Just a thought, you've got nothing to lose.

 

[bigdogrider99]

Go with the old building. Usually they are built better unless you plan on doing most of the labor to ensure the new one is done right. By the time I get done with my shop I will have close to about what we paid for the house and land ******* in it. Although that is only 35k still that is a lot for me to tie up in a shop, I figure I only get one since the wife says she ain't moving again. Both the house and shop have a ton of sweat equity invested.

New construction prices are going through the roof.

 

[JohnReynolds]

Which has the better location? After all, that's the one thing you can't add to the property later!

 

[dboat]

Build new, no compromises..

Dana

 

[Wardrum]

Be absolutley certain to get a level 1 environmental report on the old dealership. Underground tanks? If you do not secure a due diligence you could be in for some major expenses for remediation. Check with a good real estate attorney.

They have documentation of when all the underground tanks were removed(80's). Any more ideas/concerns?

Having tank removal documentation is not enough to protect you. You have to have at least a Level 1 Environmental Site Test performed by a testing firm working for you. If any potential problems exist, you might also need a Level 2 test. Almost every former vehicle dealership site (and many other commercial sites) have at least some problems other than undergound tanks. Problems like oil leaks, gasoline, battery acid and anti-freeze spills, asbestos, lead paint, (to name a few) are almost always present and are all considered to be recognized environmental concerns (RECs). If you are borrowing money for the purchase, even 1 REC is enough to stop your loan.

I vote for a new building built the way you want it. In the long run, probably less expensive than revamping an old building.

 

[atch]

i voted old. however, as far north as you are (if it were me) i'd really have to look at energy loss in the winter before i decided. i think the farther south you are the better the old building would look in the long run.

if it were me; here; i'd go old. and maybe partition off a small portion of the shop to heat in the winter time.

 

[TER]

******* There are several empty buildings in my area that sit unused that would be great for a large shop area. Nothing makes an area look depressed like empty business buildings. I bet if you talked to the city council/board, they might be willing to help out in some way to get the building up and running. Just a thought, you've got nothing to lose.

I agree but unfortunately the City can't do much to protect a buyer or tenant from Federal and State environmental liability -- the new owner or tenant is often responsible for cleanup even if he had nothing to do with the original contamination. That's why perfectly usable industrial or heavy commercial sites -- "brownfield properties" -- sit vacant, even though there are willing buyers. Who needs the aggravation?

Some of that is changing (others have mentioned due diligence site investigation) to allow innocent purchasers to avoid problems if they don't aggravate existing contamination by excavating or demolition. But absent indemnification from the seller and jumping through a lot of legal hoops (read more $$$) I would pass.

 

[Wile1Coyote]

Dude c'mon you know what you wanna do. Pull the plug and get the ol Dealership that is gonna be so KILLER!

 

[Barz51]

How about a picture of the dealership?

 

[bhays]

I guess it really comes down to how much character the old dealership has. Some old buildings are just generic old buildings...but...if it looks like the other dealership recently posted here, I say go for it...it's just too cool.