Buying Retail Bays at the bottom of a presale condo?
Im considering buying the retail bay of a presale condo I'm going to be living in. In 2 years this area is gonna be very busy and with the most foot traffic in the city. My question is their any major cons with buying at the bottom of a condo building?
[{"id": "cruc3k1", "text": "I think you just need to do your homework.  If you're in a mixed-use complex/building you may have HOA or CC&amp;Rs or something that govern what you can and can't do with the retail piece.  You may also be responsible for certain association dues because there may be a lot of shared systems and structures within the building.\n\nAs an example, I live in a complex with townhomes and condos.  There is ground floor retail and the CC&amp;Rs govern that certain uses such as dry cleaners or restaurant are prohibited.", "replies": [], "depth": 1}, {"id": "cs0kpkk", "text": "Also what can happen with these things when the developer flips the retail units onto individual investors is that with no unified landlord for the retail complex you get like 3 dentists, 2 sandwhich shops and a poor mix of retailers so the retail stretch becomes very unattractive. ", "replies": [{"id": "cs2bprc", "text": "That is a concern i have. However, the area is right beside a new arena that is opening and should be some of the more desirable retail space in the area. Its also a fairly big space at 2200 sqft plus 650 mezz. The condo building itself will be among the best in the city. Hoping this will limit the retail mix to very desirable tenants. ", "replies": [], "depth": 2}], "depth": 1}]