Need help in deciding what type of CRE to look for.
I'm looking to start up an indoor golf facility (simulators &amp; launch monitors) with food and beverage offerings and I am having trouble finding a suitable property to lease or purchase. I realize there will be some buildout requirements, but what type of property should I even be looking at? An industrial or flex facility seems to be what I am gravitating to, but would there be a better option if I am also going to include a kitchen and/or bar space? Thanks in advance for your time.
[{"id": "gyr87zt", "text": "I\u2019m a multifam / mixed use guy so take this with a grain of salt. \n\nI\u2019m thinking you acquire an old batting cage / arcade and build out as needed without a kitchen. You could serve bottled drinks / beers and allow folks to order delivery like breweries do so you avoid the code &amp; customer service headaches that come into play with commercial kitchens/food service.", "replies": [{"id": "gyufwdm", "text": "This is an excellent idea, appreciate the insight! Seems like this would be the easiest/cheapest way to allow food and bev options. Thanks again!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gyr8fhr", "text": "Obviously you'll have to check about city zoning, but I would think that an industrial property would be best.  In my area there are some industrial properties that have been turned into volleyball gyms and things like that and they are allowed to serve food and beverage there.  I think industrial would definitely be the most economical route!", "replies": [], "depth": 1}, {"id": "gyr952u", "text": "Check out fiveirongolf.com. They have a bunch of locations and are in different product as well. Adaptive reuse industrial could be something to target depending on the market you are in.", "replies": [{"id": "gyufeuh", "text": "Thanks, damn they're huge! Fortunately, I'm in an area that isn't very close to any of their locations but still with a high golf demand. Appreciate the response.", "replies": [{"id": "hahzgfk", "text": "You ever get this off the ground?", "replies": [{"id": "haktry1", "text": "Life is busy so not yet, unfortunately. However, I now have some possible locations and a few investors lined up so I plan on pitching soon.  \n\nThere's a location that would be prime - tons of daily traffic and multiple large outlets close by - but it's built to suit in 2023. So my plan is to get something small going first to at least gain a customer base before moving into a larger facility.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gyravvi", "text": "You should be looking at retail. I would say you should be looking for old walgreen or cvs buildings, but I don\u2019t know what your capital restraints are.", "replies": [], "depth": 1}, {"id": "gyrhbio", "text": "Yes, flex/industrial would work and be the cheapest to fit out. But customers would need to find you. If you are offering food/Bev, then you might look for obsolete real estate in area with more visability, plenty of excess retail available with good visibility. Like someone else mentioned I also saw one of these places in a CBD location in Philly, space that world normally have been a restaurant space.", "replies": [{"id": "gyufhb4", "text": "Thanks for the response!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gyrk5is", "text": "You need a place with plenty of parking. Vacant big box retail. Or freestanding industrial with large parking area or room to expand parking field.", "replies": [], "depth": 1}, {"id": "gyrkjsk", "text": "The biggest issue will be zoning. You will want visibility from a heavily trafficked road. Industrial might be nice because of ceiling heights and the relatively low rent/sq ft but you lack location, and TI packages. I would target retail locations depending on how large you want aim for old big box retailers toys r us had high ceilings in newer models, or on the smaller side look for old mechanics locations they can also have high ceilings.", "replies": [], "depth": 1}, {"id": "gyrn6o8", "text": "industrial is ideal because of a higher ceiling and pricing, but parking could be a serious problem.", "replies": [], "depth": 1}, {"id": "gysdy3w", "text": "Depends if you want somewhere with foot traffic, next to bars/other places or can be out of the way.\n\n&amp;#x200B;\n\nI think class B retail is where you want to look. Light industrial would be too rough if you see it as a party environment, and not just serious golfers.", "replies": [], "depth": 1}, {"id": "gyuz5xa", "text": "I had a client a few years ago that did  what you are talking about and he ended up leasing flex space. He is still in business today.", "replies": [], "depth": 1}, {"id": "gzgqsnq", "text": "I'm assuming you are doing an implementation like Dave and Busters had that doesn't need a huge area per golfer. I would recommend looking at B/C retail that meets your height requirements. Unless you are a superstar at marketing, you likely will get more foot traffic at a retail location than flex industrial. Retail may also already have the kitchen build out so you might not need to come up with that extra capital. I would say now might be the perfect time to take over a 10,000 SF restaurant box from a restaurant that failed during Covid. Most restaurants are trending smaller in size so these spaces have been difficult to lease. If it is a stand alone pad, often times they end up sold only for land value for redevelopment as new restaurants pads.", "replies": [], "depth": 1}, {"id": "gzo6bg6", "text": "This has been an amenity added in a number of office buildings.  May be an opportunity there but guessing would depend for you on demographics of specific site.  This is in Northern climate where there is demand in the winter... great perk as part of large office building and in certain locations can see this having weekend crowd outside of normal business hours.  Look for partnership with LL, talk to Property Managers or better large office leasing teams in your market.", "replies": [], "depth": 1}]