RE: So I ran into Apu just now......
October 16, 2017 at 4:45 pm
(This post was last modified: October 16, 2017 at 5:22 pm by Brian37.)
(October 16, 2017 at 4:10 pm)Minimalist Wrote: There are plenty of half empty strip malls around here. How many nail salons are needed?
I don't think I was suggesting all 12 units are all Chinese food joints or all salons.
Yes, you do have to check surrounding competing strip malls to get an idea of what not to do so you don't lose your shirt flooding the market, sure.
That salon I mentioned DOES WELL. So does the breakfast place but especially the Chinese food joint.
Down the road a little less than 2 miles there is another strip mall that L shaped with what must be 25-30 units and with the exception of 2 or three, they are ALL FULL.
There is a local Italian Bistro, a cable company unit, local Mexican restaurant, a localized book store, a mom and pop second hand shop, a Papa Johns, a Subway sandwich shop and a Food Lion, and those are just the ones I remember.
Point being, is that if that location can do well, the one closer to me can as well, it is just that the realty company that owns that property are fucking assholes who won't lower their rent, or simply don't know what the fuck they are doing.
If the Chinese food joint, and breakfast place, salon and cleaning business work, in the place right next to me, then just like the mostly full place further down the road, they can figure out how to fill the units too. There is no reason for a good piece of property like that to sit empty that long, other than the owners bilking tax payers because they get a tax break for the loss.
(October 16, 2017 at 4:34 pm)RoadRunner79 Wrote:(October 16, 2017 at 4:10 pm)Minimalist Wrote: There are plenty of half empty strip malls around here. How many nail salons are needed?
You can put one pharmacy next to another one.... Just fill it up with Rite Aids and Starbucks (6 Each).
The last thing we need are pharmacies. The only thing that outnumbers pharmacies around here are churches.
But sure, both are full of drugs and unfortunately popular. One the drug of fictional utopias, and the other the product of big pharma.
One of the biggest wastes of money I saw a few years ago, was miles away, close to my mom's assisted living. I saw the construction, and thought, "great, a new business", but months later saw that it was going to be another surf shop. I live near the beach, and you cant throw a rock without hitting a surf shop, and it seemed fucking stupid considering I also live 20 miles above Myrtle Beach SC, in NC, having lived here 12 years driving down to Myrtle Beach seeing all the surf shops go out of business.
Yea, the strip mall close to me, whomever buys it should not be simply renting out to the first person. If you want long term viability you do have to consider other competitors and put businesses in that can compete but are far enough away that they wont flood the market.
That surf shop builder took almost a year to build the building only to end up putting it up for sale in less than a year. The worst part of that particular new surf shop is that just less than three blocks away just before you got to the bridge going to the beach there were TWO well off surf shops. The idiot who built the new one didn't do their homework.
