Im about to be the owner of a small Commercial Warehouse space. Insight would be appreciated.
Ive been in the single family home rental  business in Ohio for a few years. A home I was renovating last year has a 3500 SQFT commerical warehouse/office next door. I met the owner while on site a few times and he said he was going to sell in the next year or so. Last month he called and the price we negotiated is extremely favorable from what I can tell.

Theres a good bit of cosmetics that need taken care of but I have a crew that can handle it. The structural inspection went well. The title work is almost done and its starting to sink in. I have no idea what I am going to do with it. Id prefer to hold and rent but I have no experience in this field. There is appx 2000 sq ft of warehouse space and 1500 office. This could be built out to accommodate more of either. There is 2 roll up doors that are about 11" tall. It is in a residential area. A B or C neighborhood.  Not alot of street or foot traffic. The business that just shut down was a cabinet maker and it was a HVAC company in the past. Probably not a good retail location in my opinion. 

Sorry for the broad question but Im looking for any and all advice to make this successful. Are there any business ventures that might fit the bill for this space that I can cater to? Unsure if I should build out at all or wait for a prospective tenant to give guidance.  The opportunity fell on my lap and I havent had alot of time to plan

EDIT:

Im very glad I asked this question before closing. Ive looked at the zoning map and it appears this is zoned as R2 residential on the map but the auditor site states 

Land Use: 480 - COMMERCIAL WAREHOUSE

Could this be a case of a non conforming use? This might blow up the deal for me. I took the auditor description as what it was zoned for.  I suppose I need to go to the building department and discuss what I can use this for.
[{"id": "hsxbmd1", "text": "Local plumber, electrician, candle stick maker.....there's a thousand small businesses that would be ideal tenants (check local zoning.....the previous tenant may have been grandfathered...new tenants, not so).\n\nThis is a small building.....too big for a startup, too small for others.\n\nAnd someone: Juuuuuuuuuust right.\n\nIt sounds like a great place to run a small business from...could be dicey to lease (see zoning comment above).  If no zoning issues....you'll have no problem renting it (barring repairs, modifications needed to get it to market).\n\nBy the way....in my town, it is nearly impossible to find industrial space below 5,000 sf.\n\nThere's always some guy running his fence installation business out of his garage where his wife is sick and tired of his help traipsing through her house to use the bathroom (and the neighbors are tired of his employees parking their 9 POS oil leaking cars on their road...*all* of whom will be thrilled that you have a vacant space to rent this guy).\n\nIt's far easier to lease 5,000 sf than it is to lease 500,000 sf.", "replies": [], "depth": 1}, {"id": "hsxi5dh", "text": "Get a 3 or 4 trusted local brokers opinion. Then list it.", "replies": [{"id": "hsxnc91", "text": "Look at more localized brokers as well not the heavy hitting industrial guy. Although you said its not a good retail use the local retail brokers probably know the smaller guys who are interested in this.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsxl0y2", "text": "Might be hard to rent out with 11\u201d roll ups.\n\n\u2026 sorry couldn\u2019t help myself.", "replies": [], "depth": 1}, {"id": "hsxmvbh", "text": "Get it cleaned up as much as possible. Absolutely all the old junk and clutter goes, including anything overhead. If the warehouse portion is uninsulated, consider having the whole thing spray foamed with one or two inches of insulation. Replace the old Warehouse lighting with 8 ft LED strips. Clean, white &amp; bright.", "replies": [], "depth": 1}, {"id": "hsxp5lk", "text": "In my city properties like this are very difficult to find. You could be sitting on a hot commodity. Congrats!", "replies": [{"id": "hsyqsnv", "text": "Same here, sounds like a winner. A small legal industrial space swith roll doors, are very hard to find in my area and don't stay empty long. Clean it up and you should not have a problem finding a qualified tenant. One caveat: I'd check for hazardous waste  and find out what the prior use was/were. Might be worth while to get a Phase I environmental study before making a final commitment. If you are borrowing to do the deal the lender will probably expect that too.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsxqlur", "text": "Talk to a broker.  Essentially you want to put it on the market as is and then work with the future tenants to build it out how they want it.  It's not like residential where you build it out to look modern and most people want that.  \n\nIn general though with that size space if the office is single story and you can tear it out to make warehouse space, most tenants would want 3000sqft warehouse 500 office... if that.", "replies": [], "depth": 1}, {"id": "hsxrmm5", "text": "Check the zoning to see what can go there. Because it is a residential area you will want to know exactly what can go there.", "replies": [], "depth": 1}, {"id": "hsxtenc", "text": "I\u2019m developing my first ground up class A industrial building right now but I do own existing commercial properties both industrial and office. In my opinion, your best bet would likely be to get a single tenant that does something like manufacturing or needs a warehouse area and office area for operations. You could divide the space up but I would not reccomend devising the space too much unless you have to as that would likely reduce your pool of possible tenants. I would also look at what your buildings zoning is because it may either expand or limit what type of end users you can put into the space.", "replies": [], "depth": 1}, {"id": "hsxtsmf", "text": "Im very glad I asked this question before closing. Ive looked at the zoning map and it appears this is zoned as R2 residential on the map but the auditor site states \n\nLand Use: 480 - COMMERCIAL WAREHOUSE\n\nCould this be a case of a non conforming use? This might blow up the deal for me. I took the auditor description as what it was zoned for.", "replies": [{"id": "hsz8vx4", "text": "Call the zoning department and ask them to define what the zoning is for the building they will be able to tell you something to the effect of it is \u2018a legal nonconforming use\u2019 or it is \u2018not a permitted use\u2019, etc\u2026 then ask what if I were to purchase as a new owner would it\u2019s current use still be permitted? IMO zoning is a huge issue that you want to have crystal clear before you purchase and have it in writing which you will if your getting lending an appraisal will probably be required and in the report should be a zoning analysis", "replies": [{"id": "hsz9pzp", "text": "I am not getting a loan for the purchase. I will be reaching out to the city ASAP.  Would the zoning dept put this in writing for me if requested?", "replies": [{"id": "hszrz7m", "text": "Yes, basically they can confirm in writing what is allowed on this site.    There are tons of buildings where zoning changed later.  Your building will still be allowed for similar uses to what it historically has been.  When you talk to the zoning department tomorrow they'll let you know what's up.  Almost certainly a new industrial user will be allowed.  Good luck!", "replies": [], "depth": 4}, {"id": "ht06xto", "text": "Yes and they should be able to give you a zoning map, definitions and a permitted use table which shows all the uses allowed such as which commercial, industrial flex type uses that are permitted for that parcel.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hsxw66t", "text": "You have a good deal, take advantage of it. Procrastinating on what you'll use it for benefits nobody. Take control of it then decide what you'll do with it. In anycase useage changes all the time.", "replies": [{"id": "hsxx13s", "text": "For what I am purchasing the property for I think I agree with this statement. It\u2019s an extremely good deal. I\u2019m just a bit intimidated by the zoning situation and don\u2019t want to be told I can\u2019t do anything with it once I buy it.", "replies": [{"id": "hsy116c", "text": "Speak to a local zoning attorney. It could be grandfathered for warehouse/ office use.", "replies": [], "depth": 3}, {"id": "hsy1s66", "text": "Zoning issues can be fought and even though it takes time you'll still be able to find usage according to current zoning requirements in the meantime, plus you can always sell the property to someone at a higher price.  \n\nCommercial property does not come easy, especially not at a good price. You have luck on your side, run with it...zoning issues will always be there no matter what!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hsxxv87", "text": "Where I live ( buffalo) I have a couple similar properties. They are very in demand. Landscapers contractors plumbers etc. Very low maintenance as well pretty much they like to fix or take care of things themselves.", "replies": [], "depth": 1}, {"id": "hsymsq8", "text": "Roll ups are the hottest thing in the commercial space right now.\n\nLandscaping companies alone hoard that type of location", "replies": [], "depth": 1}, {"id": "hszg3z6", "text": "How high is the ceiling or what is the clear height of the warehouse.  Keep it simple, just clean and clear out any junk in the warehouse, upgrade the lights to motion sensor t5ho or leds and paint the inside warehouse white to make it look bright, open and clean.\n\nDon\u2019t  waste your money in insulation and stuff, if the tenant needs anything they will install it themselves.\nVery important rent it out on a triple net lease.", "replies": [], "depth": 1}]