Need Advise - 6 Acre Lot with 4,000 SQ Ft Barn

[bspeedy]

Thanks for all of the comments this far. Yes, the slab has proper footings and rebar. The build was permitted through the county. Here is the listing so that you can see some pictures of the structure.....

13 Brumfield Rd, Cameron, NC 28326 | MLS #51621 | Zillow

Wow... Someone put a ton of money into a weird building...

Not enough roll up doors from what I see. All those strange partitioned rooms - what are those for? No wonder the roof rotted from the looks of the roof line. If it had been a 'normal' roof, it probably would have been fine.

If I were interested in that place (and I'm the type of weirdo who WOULD be interested in a place / project like that), I would get a contractor out there and look at it with you and get some ideas for how to make it usable. 8-foot block walls on a huge concrete pad are worth something. Not sure I'd be looking to cut the concrete and fool with the plumbing. I'd try to work with what is there and figure out what to trash and what to save. I'd get rid of the 'fancy' roofline that puts all water right into a trough to leak like crazy. Only one roll-up door? That would not be workable for me. I have 5 on my shop that is 2/3 that size. Lots of downsides to that building, but lots to like, too.

For me, it would have to be either:

1. I can do 90% of the work and I have the time
or
2. I can hire someone to make it the way I want it for way cheap.

Also, two choices to me for the space:
1. It can be restored by replacing the minimum amount of wood and putting on a good roof, build it out(and live in it)
or
2. Rip it down to the block walls, put a 6-foot wall on top with 62-foot trusses and have a HUGE barn building.

I'm very curious to see what an experienced builder like Eddie can tell you from the pics.

 

[/pine]

In many rural areas..."permitting" can mean as little as septic system permit...often required before power companies will drop service to a temporary saw pole etc...

As far as the building goes...if the concrete/masonry work is satisfactory to your plans...it's worth exactly what it would cost to replace at current prices...

 

[justinramani]

I agree 100% on the roof lines - makes no sense and it's no surprise that there are leaks in all the valleys. The middle of the building has 30' trusses. My thought was the demo the sides of the roof that have the odd pitches and replace with standard lean - to framing and roofing.

He was going to work on cars. So all of the partitions are "bays".

 

[prichard]

Really? $12,500 per acre in rural North Carolina?

Seems like the owner is putting a high value on that "building".

 

[justinramani]

Really? $12,500 per acre in rural North Carolina?

Seems like the owner is putting a high value on that "building".

Haha - they are never going to get close other that price. Land out here is worth 4-5k per acre for lots under 10 acres. Anyone know what the concrete work on a building that big would run (ballpark)?

 

[MacLawn]

justin, I'm a bit of a nut when it comes to some things, quirky, eccentric, some call me. But man, that roof is crazy! Even I hate that. I like the foundation and basic building though. But, I'd pass on that place and find land that's empty. That way you can build what you want just the way you like it.

 

[justinramani]

I would put a negative number on the building. Figure what the price per acre is for the land in that area, and then deduct a few grand from that value for what it will cost to remove the structure and get to a proper starting point. Demolition is expensive, usually a lot more then most people think. Disposal is also expensive. Hauling debris is expensive. Not seeing it, or knowing all your laws there, I would probably deduct $20,000 from the value of the land. Also keep in mind that building something there will probably cost more then if you where starting fresh. Once done, will it sell for what you have into it? What are the comps for buildings like this in your area? Are you doing this to make money or do you have some interest in owning it? For me it's a numbers game, and I think that the biggest reason it's sat for so long is that the numbers do not add up for everyone else that has looked at it. Go low on your offer, and if they say no, walk away.

Eddie,

Same thoughts after seeing the listing?

 

[justinramani]

I would put a negative number on the building. Figure what the price per acre is for the land in that area, and then deduct a few grand from that value for what it will cost to remove the structure and get to a proper starting point. Demolition is expensive, usually a lot more then most people think. Disposal is also expensive. Hauling debris is expensive. Not seeing it, or knowing all your laws there, I would probably deduct $20,000 from the value of the land. Also keep in mind that building something there will probably cost more then if you where starting fresh. Once done, will it sell for what you have into it? What are the comps for buildings like this in your area? Are you doing this to make money or do you have some interest in owning it? For me it's a numbers game, and I think that the biggest reason it's sat for so long is that the numbers do not add up for everyone else that has looked at it. Go low on your offer, and if they say no, walk away.

Eddie,

I would try to convert part of it into living space. Likely would set it up so that I can rent it out on a short term basis (think Airbnb). Possibly multiple private rooms with shared common area (living, kitchen, laundry).

Either that or turn it into a wedding barn.....

 

[Sigarms]

Thanks for all of the comments this far. Yes, the slab has proper footings and rebar. The build was permitted through the county. Here is the listing so that you can see some pictures of the structure.....

13 Brumfield Rd, Cameron, NC 28326 | MLS #51621 | Zillow

What's up with the tax assessment variances?

 

[bspeedy]

Haha - they are never going to get close other that price. Land out here is worth 4-5k per acre for lots under 10 acres. Anyone know what the concrete work on a building that big would run (ballpark)?

My 2900 sq ft concrete pour here in SC was around 6 grand for materials and labor. I got quotes as high as 10 grand. 4" concrete, I forget the PSI. No rebar. I did the vapor barrier myself along with all prep.

I'd put the value of the concrete at close to 10 grand if it's in good shape. There's value in that building for sure - to someone. I looked at the pics some more. Why am I so fascinated??? The second floor is built right on the 8-foot block wall, right? That's strange. No headroom at all. I'd want at least 14-foot ceilings in a barn / shop. How many overhead doors? One? That's ridiculous.

I'd say 5 grand per acre - round that up to 30k. 10-15k for the building foundation. Call it 45k. Someone will give them 50 to 60 grand for it at some point, I bet. Not sure if it's worth it or not...