Help: Best use issues with mixed use zoning residential home

[Surf Cat]

Sheesh....that municipal code is a bunch of gobbledygook. Make up your minds! Lol

 

[George Hatch]

It just means they want any new development to form a buffer between the more intensive commercial uses and the subdivision neighborhoods. It looks like they would allow property to add a commercial use onsite so long as it doesn't generate a lot of extra traffic. Most professional and medical office is okay but a stop-n-rob convenience store or a fast food unit or a car sales lot would be out of the question.

 

[Dublin ohio]

It just means they want any new development to form a buffer between the more intensive commercial uses and the subdivision neighborhoods. It looks like they would allow property to add a commercial use onsite so long as it doesn't generate a lot of extra traffic. Most professional and medical office is okay but a stop-n-rob convenience store or a fast food unit or a car sales lot would be out of the question.

The permitted uses in that CMX zoning district allows quite a bit. Anywhere from SFR to 50,000 sf retail. Including gas stations, drive thru restaurants, hotels, theatres, light manufacturing and more. A real "cluster".

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[Terrel L. Shields]

Make up your minds! Lol

Their long term plans is for it to remain a traditional neighborhood for residences.

 

[sputnam]

Highest and Best Use is only partly dependent on what the county allows. It's not at all dependent on how the county tax department classifies the property. Highest and Best Use is the use that would produce the highest value or the highest income.

As for preventing the same situation from arising again... you probably can't. Having said that, a different appraiser might have come to a different Highest and Best Use conclusion. Especially if it's not clear cut.

There are banks that will lend on commercial properties. It's usually a different department from the mortgage folks.

 

[J Grant]

Their long term plans is for it to remain a traditional neighborhood for residences.

In my area, mixed-use residential/light businesses where overall they want to maintain a more residential character, there are rules about what can and can not be done on the property - limited number of parking spaces, signage, certain business use restricts, or even in some areas not allowed to park large trucks, etc.

The idea is to have it limited to "light traffic" business use - which is appealing to many who want a home office or home-based business that has a second entrance or a second building - these properties are not intended to be large-scale use industrial/commercial.

 

[Mark K]

The bank does not want to loan on a commercial property, the HBU as determined by the appraiser. Simple. Nothing more or less and typical of residential loans. The bank may or may not have a commercial department willing to make the loan, however commercial loans have different terms in regards to down payment, interest rate, term (often balloon loans), etc.

It sounds like a transitional area, residential turning commercial, and those are often problematic in regards to appraising and financing. I've seen lenders shy away from these properties, no matter the HBU, if the zoning is something other than residential. The last one that comes to mind similar to this was a transitional property and the bank agreed to finance the property, however they would only make a max 10 year loan.

 

[Carnivore]

Tg his property adjacent to a lot of small business especially along E Inness St and to north there is a lot of shopping as you get closer to I-85. To the west and south of the house it is all residential . This is Salisbury it is really growing. So I don't know what else to say because I have not done any appraisal work in that area for a long time. The only reason I did work up that way was for Fannie Mae REO's.

 

[Dublin ohio]

Just to clarify something for myself. Would a licensed or CR be allowed to make the commercial HBU conclusion?

 

[Carnivore]

It just means they want any new development to form a buffer between the more intensive commercial uses and the subdivision neighborhoods. It looks like they would allow property to add a commercial use onsite so long as it doesn't generate a lot of extra traffic. Most professional and medical office is okay but a stop-n-rob convenience store or a fast food unit or a car sales lot would be out of the question.

I agree with your analysis. Charlotte region is fast turning into Atlanta. Most of the growth is along the I-85 Corridor.