Buying property on a Main Road/Busy Street in Small Town 5000 people

What are your thoughts with a property on a main street/busy street in a small town of 5000 people. Busy as in busy for a small town not as in main road in suburban Brisbane/Sydney/Melb/Ade/Perth

Would this impact sales price and days on market?

Av sales prices on this road have been $150k - $200 k around 3 - 6 months on the market from my initial DD and some have sold for $250k.

The street is mostly residential but there is a pub and a some industrial buildings towards the end of the road the property is located

It needs a lot of work but looking to pick it up for $70000 k and put up to $35k to spruce it up and put it back on the market. I am happy to walk away with $20 k profit.

Would it matter for a small town if one buys on a busy street?

 

Hi Coastal,
The property is just one part - the town location is the other - why would someone buy there?
Plenty of opportunities if there is a bit of growth but there has been so many valuation downgrades in parts of regional Qld lately.....
Lots of empty commercial sites....for sale.

We looked into this as an option earlier in regional Qld but found there was too much risk for us - (lead up to mining downturn/closures)
It could be a good thing IF the particular town has something going for it and the local council is really supporting growth.
Anything that will increase visits to the main street is good. All about heads....

You could do your money waiting for the buyer to come along....just in opportunity cost.
BUT - if you know that there is something that will change the nature of the town in the near future (new industry, tourism, gold mine?) then you could make some money.

Follow your gut - if it is good then go for it.
Good luck