Would, at the very least, need a carve-out for your primary domicile + a lockout period.

It sounds rife for yucks. Imagine making a megarich person mad online and they buy your house out from under you. So you move to another one. They do it again, and again, putting you in the delightful position of playing chicken with their vindictiveness and your ability to pay your own property taxes.

Moving is colossally inconvenient, and extra horrible when you're forced to do it.

Can't imagine local supermarkets being able to endure the inevitable bidding war on their properties from walmarazon.

Good points. It still might be possible to put in limits that make it workable: Maybe the sale only goes through after 5 years and the money is held in escrow until then. Maybe an individual/organization can only exercise the option once per 20 years.