I need advice on how to sell non income produciing commercial real estate.Property consists of 9 acres with 21unit mini storage building and a 1,500 sq. ft. building occupied bringing in only $400.00 a month.Any suggestions.
Why are you not renting out the 21 unit mini storage? That would seem to be the simple answer to producing income.
Get a loan on the land and use to build more storage units, and Rent out for even more income. The sell it based on the new income.
Perhaps this is a terrible location for storage units? I have 5 storage units I use for left over building materials around my state and they cost me about $100/ month for each. With few exceptions, storage units and a small building are usually not the highest and best use for 9 acres of land. Try selling the property to a developer of some sort.
You can sell non-producing properties to 2 kinds of people- Geniuses or Idiots and no one inbetween.