3 Things to Look for in Commercial Property Listings

3 Things to Look for in Commercial Property Listings

3 Things to Look for in Commercial Property Listings

15 September 2020
Real Estate, Blog

Owning your own business gives you the chance to make an impactful mark. However, if you are looking for a retail space, you may find it difficult to know how to move forward, since many cities have an influx of available spots. Here are three things you should look for in commercial property listings and how they could help your business. 

1. Great Location

The single most important element of finding a new building for your business is the location since it can dictate everything from the amount of foot traffic you get to the amount of exposure your business sees from passing cars. 

Keep an eye on locations that may be new in your area, and look at commercial building lots if you are thinking about building something new. Pay attention to city council announcements about new developments, and don't be afraid to reach out to developers to chat about new listings that may not have hit the market yet. 

2. Eye-Catching Exterior

You can attract quite a bit of business by choosing a property that looks different. Think about your company's overall aesthetic, and look for a building that reflects your goals. For instance, if you are selling apothecary-style beauty products, searching for a commercial property listing that is an older property but that has a newly renovated interior could be exactly what you need to get people interested in your brand. 

Look for well-maintained business properties where it is obvious that previous owners and managers took care of the details. From manicured lawns to repaired parking lots, choosing a space that has been cared for could save you a lot of money. 

3. Enough Space

Think about how much current space you have in your existing operation, and look for a commercial property that has at least that much--if not more. Make sure the building has enough retail, salesfloor, and storage space, so you don't find yourself cramped and looking for another place to call home later. 

Before you settle on a new building for your commercial operation, talk with a real estate agent who has experience in that field. Chat about the sales prices, negotiations, and what to expect during the discovery and closing process. Try to keep an open mind for if things don't work out so that you can quickly transition to seeking another listing. Remember, you are only a listing, an inspection, and a negotiation away from a great place.

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Getting Real About Real Estate

Buying any piece of real estate is a big undertaking. You need to do your research and know exactly what you're getting into. You also need to hire an attorney, have the place inspected, work with a lender, and collaborate with your real estate agent. When it comes to such a big undertaking like this, it is really important to know what you're doing. So even if you are not planning to buy for a year or two, it is not too late to start learning. Browse the articles on this website to get started, and you'll watch your own knowledge grow.