Seeking Advice: Pros and Cons of a 3rd Floor Small Shoplot

[nirman762]

I recently came across a shoplot on the 3rd floor, measuring 108sqft, with a price tag of RM120k. It is situated in a well-established neighborhood at the heart of PJ.

I have been considering the advantages and disadvantages of acquiring this unit, as outlined below:

Pros:

1. Affordability: The price is affordable at RM120k.
   Location: Despite being on the third floor, the location is still desirable as it is in PJ.
2. Lower maintenance fees: The monthly maintenance fees are relatively low, at less than RM75.

Cons:

1. Expensive per square foot: When calculated per square foot, the price is approximately RM1100-1200, which may be considered high.
2. Rental limitations: The smaller size and being on the third floor might limit the potential rental options.

I am interested in purchasing a low-cost property, whether it's a house or a shoplot, to begin building my assets. Therefore, I am currently exploring similar properties throughout the whole peninsula.

I would greatly appreciate any suggestions or insights from the members of R/MalaysiaPF regarding this property.

edit: The term "shoplot" may be a bit unclear when refers to this unit. I would say it's like the shoplots in GM Klang or KWC, but w/o air-cond and with fewer units.

 

[kirutu3]

@nirman762 108sqft can rent to cambodian scammers to set up their station.

Sounds like storage unit for the main storefront downstairs. Like those shop selling carpets or furnitures, they will usually keep their stock in another unit. Or you can rent it to shopee sellers.

Dont be fooled about being in PJ. Even established malls are suffering.

 

[gtfox26]

@nirman762 you want to use it as your own office or to rent it out?

 

[hippyhappo]

@nirman762 Hahahaha not worth a dime... 108sqft for 120k is overpriced and and dumb especially when there's a 1000% overhang in office space throughout the country.

 

[allenkrookham]

@nirman762 What’s the rental that you’re looking for this 108sqft?

 

[animux]

@nirman762 Since it's a small shoplot I think it's safe enough to assume there's no lift.
(1) selling it will be difficult even if you lower the price
(2) good luck having anything delivered to your shoplot
(3) can you imagine how much it's gonna cost to get your shoplot furnished @@" gonna pay through the roof for helpers to carry stuff up
(4) security wise, is it safe ? Going up staircases where no one can see what's going on inside
(5) my knees already hurt thinking bout this

 

[andrea0601]

@nirman762 1.2k per sqft? lol

 

[theologybuff]

@nirman762 How many stairs to walk up there? Afternoon not hot? It's right under the roof?

 

[holyspirit2014]

@nirman762 Not worth it man. If you want a very cheap space for office lot, consider Endah Parade. You can get a whole shoplot for less than 1000

 

[ant101]

@nirman762 108 sqft or sqm? How shitty are the stairs to get up there? What rental you looking at?

Are any other 3rd floor shoplots rented out in that area or is it all owner occupied or storage area for shoplot downstairs.

 

[johan_1988]

@ant101 Apparently it’s sqft

 

[fndnstne]

@nirman762 Is this in a mall? If it is, you can easily observe the foot traffic and rental demand to work our your returns.

 

[roxana]

@nirman762 There might be reasons why it’s cheap.. 3rd floor and being that small is one of the factors. For 3rd floor if the area is large you can rent it out to offices but for a 108sqft, it’s not suitable since it’s very small. If traffic is low then it’s pretty much useless to rent out as a shop.

 

[jibs]

@nirman762 It's not good at all and it's not even cheap.

 

[jfozzy]

@nirman762 108sqft ?