No idea what to do with an old gas station my father left me

Hi there, sorry if this isn’t the right community to post this in but I’m at my wits end. My father passed away last year and, amongst a few other things, left me with the property of an old gas station he used to manage. The place is pretty dilapidated but it’s in the middle of a relatively busy part of the city and only a block or so away from the local high school.

The real estate agent seems to think we can get around 190k for the property, but in the past year since acquiring the property theres been zero interest. A big reason is that because of the properties proximity to a school you cant get a liquor license for it. I’ve asked if we can cut the price even further but he seems to think that if anyones interested in the property a price drop of 40k won’t change their minds (is this a good assessment?).

Whats worse, I just got told by the state natural resource department that because the tanks have been out of use for 5 years they need to be permanently closed. I’ve left a message with the analyst who sent the letter and messaged a few firms capable of doing this but I just don’t really have the money to pay for it right now, I just got out of college.

What should I do in this situation? Get a new real estate agent? Call around to potential buyers (how would I even identify this?) and see if they’d bite? How can I deal with this situation if it turns out I cant afford to close the tanks? Is filling the tanks going to even further reduce the value of the property?

submitted by /u/Kilconey
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Hi there, sorry if this isn’t the right community to post this in but I’m at my wits end. My father passed away last year and, amongst a few other things, left me with the property of an old gas station he used to manage. The place is pretty dilapidated but it’s in the middle of a relatively busy part of the city and only a block or so away from the local high school. The real estate agent seems to think we can get around 190k for the property, but in the past year since acquiring the property theres been zero interest. A big reason is that because of the properties proximity to a school you cant get a liquor license for it. I’ve asked if we can cut the price even further but he seems to think that if anyones interested in the property a price drop of 40k won’t change their minds (is this a good assessment?). Whats worse, I just got told by the state natural resource department that because the tanks have been out of use for 5 years they need to be permanently closed. I’ve left a message with the analyst who sent the letter and messaged a few firms capable of doing this but I just don’t really have the money to pay for it right now, I just got out of college. What should I do in this situation? Get a new real estate agent? Call around to potential buyers (how would I even identify this?) and see if they’d bite? How can I deal with this situation if it turns out I cant afford to close the tanks? Is filling the tanks going to even further reduce the value of the property? submitted by /u/Kilconey [link] [comments]

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