A landowner in Los Angeles, CA was told their land was not developable – what a lousy investment, right?

WRONG.

You see, land can be used for a variety of reasons, developing a piece of vacant land isn’t the only way for landowners to generate money from their property.

In this case, an auto auction company leased the land as a place to park their cars in between auctions, and for that reason they just renewed their lease with the landowner valued at $35 million dollars for a 35 acre piece of property for a 10-year term. The owner’s property used to be a racetrack making it undevelopable in the traditional sense. However, the landowner was smart and realized if marketed to the right industry looking for a surface storage site, he could make just as much money from a land lease as he could from traditional development.

The demand for surface storage sites is high in areas like that of this landowner in South Bay. Plots of land near ports can see an increase in demand from industries like port companies who need places to put storage containers. This story goes to show that your property could be in any state, and you could still be sitting on a gold mine. Regardless of the condition of your land, you should list it any way. You never know what type of industry could lease your land!

Related: Finding Use in the Land Deemed “Unusable”

One thought on “Landowner Receives $1 Million Dollars Per Acre for 35 Acre Lease

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