What is this garage worth?

[Jim Oaks]

What would you think this garage is worth on a 1/2 acre??

Here's the description:

PRICE REDUCED!!!!!! Fantastic location!! Property has a 1500' Metal shop on slab. Has car lift and a paint room. Sewer and water needs to be hooked up. This is a perfect place to build in town with an out of town feel. Property backs up to a wall of trees for that secluded feel. Will not last longOwner Financing is Available!!!

It's listed as 1,500 square feet.

 

[85_Ranger4x4]

What kind of shape is the stuff on the inside?

How close is water and sewer?

6 years ago it was $2k for the water company to run a line past the ditch towards my house, I rented a ditch-witch and ran it from there to the house.

Sewer with new septic tank and drain field was $6500.

All had to be done before a bank would touch it, not being a house in your case they might not be as particular.

 

[Jim Oaks]

I haven't looked at it. The lack of water and sewer hook up is my greatest concern. I feel like that could cost a lot to get hooked up. If it had a working bathroom, I'd fricken look at buying it, park my toy hauler next to it, and live there.

 

[85_Ranger4x4]

If it is just by the road and the road isn't very far away it isn't a huge deal. If they have to run it very far it turns into a big deal really fast.

 

[Shran]

There is so much variation in price on land and stuff... it's hard to say. Since it's not a residence it would be hard or impossible to get a mortgage on. Then the building's condition is the next question... are the water and sewer actually not hooked up, as in never been ran to the building, or is there a broken sewer line somewhere and the PO got shut off? Many possible scenarios. Insulation? Heat? Electrical service and how many amps is the panel rated for? Natural gas? All factors to me.

It cost me about $30k to build a 1200sq/ft shop, that's everything from top to bottom on a finished building. I think my lot is worth like $20k or so and it's 0.33 acre.

 

[Denisefwd93]

It has a low pitch roof, I would be concerned about snow load but I don't know where you're actually at I'll look again.

 

[Jim Oaks]

It's in Texas. Snow isn't a factory. Just value the building, not the property. Unsure if it's insulated. My guess is that one bay is walled off and someone has painted in it, not that it actually has a "booth". Just trying to get an idea of what the building would be worth with a concrete floor and a lift. That way if I do go look at it, I have a baseline to work from.

 

[Shran]

My concrete pad was $10k

I'm guessing you could put up a cheap pole barn with cheap garage doors for around 6 or 7k... mine is stick built, sheathed with OSB, steel siding and roof, and two really good garage doors. Was about $12k for the shell.

I'd imagine an older building that's been used and abused would depreciate quite a bit from a new one.

Used 2 post lift, I've seen anywhere from around $500 up. New they are about $2000 and up. If it's not in good shape, it's worth nothing.

 

[85_Ranger4x4]

The the closest carport we have in our catalog is 40x40 (1600sqft) and just the roof and legs is $10k. 14' high walls is an extra 1800. Close both sides for $2200, close both ends for $7k. 10x10 rollershade door is $500.

Our 40x40 barn was about $13k to cement with a combo 5" thickness (1/2 is 6" for tractors the rest is 4") which includes cleaning out 150 years of manure. Electrical (all new) was $7k.

 

[Curious Hound]

To buy that building brand new and have a contractor build it, I would expect to Pay roughly $30k or more. Used condition would lower that. But I couldn't say how much. Location plays a big role in price.

If you're thinking of buying the building, disassembling it, and reassembling it somewhere else, bid really low. That's a lot of work for used materials, some of which will get damaged in the process.

This message composed solely of recycled electrons. Go green!

 

[85_Ranger4x4]

If you're thinking of buying the building, disassembling it, and reassembling it somewhere else, bid really low. That's a lot of work for used materials, some of which will get damaged in the process.

I have seen some really nice buildings go stupid cheap... but you get a ton of labor into carefully taking it down and then you still have to put it back up.

 

[bobbywalter]

if there is a well and septic there that simply needs hooked up, it would be worth 18-23k to me if its a good area. 10-12k out in bfe.


bfe is more then 30 min to walmart...

or more then 3 min to napa...


or more then 5 min to tractor supply.

 

[Ranger850]

I think in Florida the building would be valued less than the land. You would basically buy the land, and get the building with it. Depending on the condition of the building. If the repairs and cost of finishing the sewer and stuff are more than the value of the building in its current condition, the building would be worthless. I've seen, first hand, several land purchases where this has happened.
EDIT: And anything left inside the building has no value to the banks, you get to keep it or throw it away, that is the purchaser's burden.

 

[85_Ranger4x4]

if there is a well and septic there that simply needs hooked up, it would be worth 18-23k to me if its a good area. 10-12k out in bfe.


bfe is more then 30 min to walmart...

or more then 3 min to napa...


or more then 5 min to tractor supply.

Around here wells are usually trashed for drinking water, mine failed the water quality test and I had to hook up to rural water. Nitrides were really high.

Texas may not fertilize as heavily... that could kinda go either way.

 

[rusty ol ranger]

I haven't looked at it. The lack of water and sewer hook up is my greatest concern..

Dig a hole.