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Thread: Great Building, Great Price, Bad Location

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  1. Default Great Building, Great Price, Bad Location 
    #1
    Join Date
    Sep 2003
    Location
    Mechanicsburg, PA
    Posts
    270
    AAARRRRGGGGHHHHH!!!!!!!

    Opinions requested.

    There's a large warehouse for sale in downtown Harrisburg PA,

    the structure is in great condition

    the roof is in very good condition

    the structure is very large ( 6,000 sq. ft total, three floors at 2,000 sq. ft ea. and there's a 500 sq. ft unfinished basement that's not included in the size estimate.)

    the parking is somewhat decent ( about 50 cars I guess ? )

    the price is *REALLY* low !!!!!!!!!!
    I would be able to purchase the property free and clear !!!!!
    The price is so low because...

    it's in a "lower economic and ethnic area", but it's within 2 blocks of a "middle class" area.

    On one hand, I get the perfect building I've been desperately searching for.

    On the other hand, LOCATION LOCATION LOCATION,
    Will "well-behaved" customers be too scared to come ?
    Will (as one haunter at Transworld said (no names please) "Only the "trouble-making" customers come ?)

    So I'm walking this tightrope of "Quality of Location vs. Price"

    Dare I be optimistic and think that I could actually improve the quality of location by having the business there ? Re-invest some of profits ( If they ever come in the first place ) back into the neighborhood ? Maybe pay a few grand and pay for a nice community playground or something ?

    Comments *MORE* than welcome, please.

    P.S. I dont want to lease or rent, I'm of the mindset that I want to purchase something for the long haul.

    Michael
    ( Buying the *RIGHT* building is tough )
    Bruner
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    `
     

  2. Default  
    #2
    Join Date
    Aug 2003
    Location
    Lexington, Ky.
    Posts
    2,960
    Michael,
    If you've ever been to DreamReapers, it's kind of the same thing. Now, no offense to the DR guys, I fell in love with their haunt on Fri. night! But it seemed like we drove really out to the middle of nowhere to get their.

    But once we got there, it was AMAZING! I guess it's all in the advertisig. The phrase "You have to yell it to sell it" comes to mind here. I think you'll do fine if you advertise the hell out of it!

    Good luck, I hope everything works out for you! -Tyler
     

  3. Default  
    #3
    Join Date
    Nov 2003
    Location
    michigan
    Posts
    71
    There are just a couple of things you may think of doing before you take a shot at the property. 1st is make sure your local officials will "let" you do a haunted attraction in the building. 2nd, does it have a fire suppression system already installed. Good electrical is key too. The price may be too good to pass in the beginning, but in the long run if you find yourself installing $200,000 of fire, electrical, etc. before you even start designing the haunt, you could be on a tough road. Make sure you have good plans too. I design attractions, including complete sets of drawings. If you need help drop me a note.
    Erick Donaldson
    Gazall-Lewis & Associates, Architects
    Entertainment Design

    e@hauntedfield.com
     

  4. Default  
    #4
    Join Date
    Aug 2003
    Location
    Ravens Grin Inn, 411 carroll st.mount carroll ill.
    Posts
    12,783
    A building a block away from mine recently sold for $72,000.
    It has 15,000 sq. feet, concrete and steel 1905 construction, new roof, big parking lot next to it, big basement with high ceiling.
    It is now in the process of being made into an antique and car museum.
    In 1910 it was a Ford dealership.
    I thought about this building but where the money, time and ambition on my part would have come from, I couldn't figure?
     

  5. Default  
    #5
    Join Date
    Aug 2006
    Location
    louisiana
    Posts
    361
    i like your thinking,thats what ive always done.i didnt believe in paying someone rent for something i dont get to keep.so i baught a home.after that was paid off we were shopping for a warehouse for the haunt and renting or leasing never even crossed our minds.in a haunt you build yourself so into a building that it just dosnt seem practical.you build yourself in,establish clients,then landlord says get out when lease is done.we baught a small warehouse that has room for expansion in an undeveloped area on a major hwy.thats why our price was right.mabie within a month of buying our building,the land next door sold and is going to be a school.but if i were you i would keep shopping because i wouldnt want to be at the warehouse at night in a bad neighborhood working alone.
     

  6. Default  
    #6
    Join Date
    Aug 2003
    Location
    Tyler, Texas, United States
    Posts
    2,614
    It's okay, everyone in Pennsylvania carries guns. I remember as a kid asking, the garage mechanics had guns, I was told they have money on them. The pharmacist was in the news about once every three months for shooting someone in the back on their way out.

    Now I'm in Texas that has that holster carrying thing preconseption and I haven't seen any guns. I hear them but, haven't seen one.

    What you are describing might work out but, it is a war zone. I would include in the estimate a truck or trailer to bring the tools home every night. Every night.


    Another fabulous post from the U.S.Department of Wild Imaginings, now in spectaclar stereo, sponsored by the Adhesives and Sealants Council, suggesting ways to stick things together since the 1800s. Not fabulous in a gay way. Your results may vary. Illinois residents add 8% sales tax. These posts have been made by professional post makers, do not try this type of posting on your own without extensive training, lovely assistants and a trusty clown horn.
     

  7. Default  
    #7
    Join Date
    Aug 2003
    Location
    Tyler, Texas, United States
    Posts
    2,614
    I think too that the wrong side of the tracks might have more potential customers. On the supposedly good side there is a click society of parties to go to that are more important. On the wrong side it's been a while since we've been out anywhere, let's go!

    While the event is open might take some security to make it "feel" secure, that people's cars are being watched by the right people and their travel between the event and car are being monitored. A great number will be oblivious to this locations reputation and in fact it might mean lots of press as you join others in revamping a part of the old town.

    There is that code thing though. Lots of times things are left as it costs more than it is worth to upgrade it or it has been devalued as to how much it would cost to tear it out and build a new building. For a haunt though this is the perfect situatuation. You will always have taxes thouh and I would understand how much those are.


    Another fabulous post from the U.S.Department of Wild Imaginings, now in spectaclar stereo, sponsored by the Adhesives and Sealants Council, suggesting ways to stick things together since the 1800s. Not fabulous in a gay way. Your results may vary. Illinois residents add 8% sales tax. These posts have been made by professional post makers, do not try this type of posting on your own without extensive training, lovely assistants and a trusty clown horn.
     

  8. Default Tyler 
    #8
    Um Tyler......Dream Reapers seems like it is in the middle of nowhere?

    I guess we should have ran the buses through the traffic and the busy parts of town!!!
    LOL
     

  9. Default  
    #9
    Join Date
    Aug 2003
    Location
    Lexington, Ky.
    Posts
    2,960
    I guess you could have called it... "Dream Reapers: The Dark Ride"... LOL! Awesome show guys! -Tyler
     

  10. Default  
    #10
    Join Date
    Mar 2006
    Location
    ClarkLake, MI
    Posts
    594
    I think erickroy covered it, but you may also have parking issues.
    You say 50 in the lot, how much curb space do you have?

    I wish you luck, for we've been searching for such a building for both the Haunt and retail store.
     

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