A real estate transaction involving a structure or land use that deviates from current zoning regulations but was legally established prior to the regulations’ enactment represents a unique opportunity. For example, a small grocery store operating in a neighborhood now zoned exclusively for residential use exemplifies this concept. Such properties are often grandfathered in, allowing their continued operation despite the zoning change.
Acquiring such properties can offer distinct advantages, including potential cost savings and the acquisition of a unique asset. The historical context frequently adds character and a sense of place, contributing to the property’s value. These advantages, however, must be carefully weighed against potential limitations and challenges that might arise from the non-conforming status.
