InterWest Realty embraces the opportunity to sell and lease special purpose properties. Our agents with special purpose sales and leasing experience have handled this sector of real estate with great success.
What’s A Special Purpose Property?
Special purpose properties are those that have limited or specific uses such as religious buildings, private schools, hospitals, theaters, museums and campgrounds.
A special purpose property may also be unique due to its physical design, layout or improvements which might restrict the use of the property to only that for which it was built. Due to the special nature of these spaces, the marketability of such properties can be complex.
Repurposing Special Purpose Properties
Buildings designed for one specific use can be repurposed for new ventures. These special purpose properties face a variety of challenges unique to their location and designation. Over a period of time however, the building and or the location warrants that it’s time to “reinvent” or "repurpose" the use of the space.
Reinventing or repurposing can be tricky as properties need accurate valuation through appraisals. Our team carefully looks for what we consider “comps,” or comparable properties and develops thorough analysis in order to create a perfect valuation.
Every Property Has A Buyer
Whether it’s a school building, a theater, a religious building, or a rusting warehouse in a once-forgotten part of town, every property has a price. And every special purpose property has a potential buyer.
We can uncover the best value while finding the perfect buyer. Reach out to us, let’s find the solution together.
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