Interesting real estate opportunity
So I’ve recently come across a pretty interesting real estate opportunity. I’ve wanted to move closer to work. I currently live 23 miles away; this real estate opportunity is less than a mile from work.
What’s particularly interesting about this building is that it is comprised of 2 residential apartments above a pizzeria. I don’t have all the specifics yet, but the pizzeria is operational and making money, and I believe the owner of the pizzeria owns the building.
The apartments are 2 1-bedroom apartments that are 800 sf each. The pizzeria has seating for 30 customers.
The space is for sale for $250,000.
Its my wife, my baby of 6 months, and myself, so I’d be combining the 2 apartments on the 2nd floor. And as far as the pizzeria is concerned, I suppose I have the option of renting out the space as a working pizzeria. My wife and myself have been interested in owning and operating a restaurant, but the neighborhood that I work in is highly unlikely to be open to our concept.
Has anyone had any experience with purchasing, living, and working in a mixed commercial/residential building?
What particular things should I be concerned about that don’t apply to pure residences?
Obviously I may have jumped the gun by asking the forum before having all the specifics, but what should I ask the broker/owner for?