Entrepreneur

Real estate?

Steel Warehouse and Fabrication Center. What City are you in?

Really depends on the condition and location of the building. At 5ksquare feet, I'd probably suggest trying to divide up into 3 lots because the number of tenants for that size is a bigger pool, and if you lose one, you're not stuck with an empty building.

flophouse

Secret lair.

Rent it out to someone who has a business already.

Take those profits to start a business.

Consider this. You start business here and fail. Now you lose the building and business. You have someone rent the building from you and start a business. The business fails, well you still own a building that pays you every month. So go start another business.

Chop shop

Where at?

Art collective. Indoor sports. Botanical garden inside where you can also drink and eat. Skatepark. Storage.

Lease it to existing businesses. Triple Net.

Lease to someone else that already has a business or is experienced in starting a certain type of business. Don't risk your profit starting a business you have no passion for or experience with.

Why do I increasingly encounter posts about people who bought land and now contemplate its use?

In any case, I recommend subleasing it rather than engaging with it directly. Let the value appreciate and collect rental income

landfill

probably lease it to a business that needs this space

Wow, congratulations on snagging such a great deal! A 5,000 square ft building for pennies on the dollar is truly incredible. I can understand why you're excited and seeking ideas for a new business venture. Considering the suggestions so far, a car lot could be profitable, especially if your location sees a lot of traffic. On the other hand, a wholesale scratch and dent appliance warehouse could cater to those looking for affordable appliances. A flooring store could also be a solid choice if there's a demand in the area. Have you thought about maybe combining some of these ideas? For instance, you could create a one-stop-shop, offering discounted appliances, flooring options, and even car customization services. It all depends on your expertise, target market, and competition in the area.

Using GoRepa https://gorepa.com's?s=r real estate analytics tool can help you make an informed decision on the most profitable business to start in your recently acquired 5,000 square ft building, ensuring maximum return on your investment.

Build storage units. Or climate controlled vehicle/boat storage. Enjoy long-term appreciation and short-term cash flow every month.

make it an event space. Super high return on investment if it's done correctly. I've opened a few and it's straight forward if there's a market in your area for it

Best is start cross dock warehousing if it has a semi dock

laundromat. depends on location tho. if in a nice suburb, maybe not. if in a dense location with a lot of renters, yes.

laundromat would use up less 5000 sq ft. tho. can rent out the rest to self-employed people like hairdressers, tax preparers, accountants, lawyers, etc.

Illegal casino

The world's biggest Arby's.

Storage

Rent it or sell it

RV storage

Mini storage

A lot of people convert large warehouses for commercial storage. Great low maintenance rental business model.

Definitely recommend renting it out. You can start a business in your home and have a constant stream of income to pump into it. You can start a business you’re passionate about and if it doesn’t work, you can pivot because your stream of income for the business is coming from someone else. You were given a great gift and potential opportunity! Don’t risk losing that building.

Obviously getting a business to pay is a nice way to make money but realize that businesses that need to rent your space is a finite commodity. Where as utilizing this space as a business opportunity to create value creates compounding opportunities if successful.

There will always be a market for home goods and is a great place for light manufacturing opportunities.

Fulfillment warehouse?

I know someone who may be interested, do you want the number of Mr. White?

Secure storage lockers

Storage

Mega church. Big money maker

storage facilitate, automated car parking, depending on size of the city a community space..

Someone has said look into letting an already operating and profitable business rent it. Consider martial arts schools, Brazilian jiu-jitsu, mma. Low overhead costs, easy to manage and operate.

Yea as people say you can rent it out. Depending on what is profitable in the area. You can change it into a commercial or apartment rental space.

I heard storage units are profitable too if you see a demand in that area.

Really depends on what works in that area

Is it next to a homeless shelter?

Turn it into a co-working space and build it into a community of long-time paying customers.

Need to know lot sizing, and approximate geographical location to offer useful advice.

But as several have said, storage lockers might be the best option.

Is this a serious post?