Newsflash: Should I make blind offers on parking lots? (MD)

This is a bit of an unusual situation. I’m looking to buy or build in a resort area that is on a narrow barrier island that was primarily built up in the in the 1940’s/1950’s, so there are few raised buildings with underground parking, most are 2 or 3 story apartment buildings with a huge parking lot next to them. Easily 60% of this valuable island is wasted by old fashioned single level parking lots, and there is very little land listed for sale for building.I would want to build a house or small apartment building that is raised so that all parking is under the building, maximizing land use and minimizing damage from inevitable floods.The obvious answer (to me, anyway) is to start making offers for a small portion of larger parking lots. This would require splitting up property definitions/records of course, and dealing with owners who aren’t that interested in selling.What do you professionals think? Is it worth the hassle, or are there more problems that I have not considered?



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