Buying a commercial investment property is much like finding the perfect dress for your wedding. It’s a crucial and important aspect and one that comes with a long list of requirements, many of which are non-negotiables. We simply cannot have it any other way. What are these, you may ask? Here, take a look.
- FOOT TRAFFIC – In business school, this is defined as the level of public exposure an establishment gets and is measured by the number of people that is exposed to it regardless if they are customers or not, whether they buy or not, whether they enter or nor and whether they walk past or drive by. The higher the better. Metropolitan districts and densely populated areas are examples of such places.
- SAFETY – We want assets to be safeguarded ad this means choosing a property that is safe from structure to location.
- MARKET VALUE – For obvious reasons, the higher their value at present and in the foreseeable future then the better. This means that the owners get to capitalize on any gains there are as time goes by.
- LOW ONGOING COSTS – Maintenance costs are a huge part of owning a commercial investment property. They do not form part of the list price but instead are spent after the acquisition on a regular basis. A high number means they are expensive to own and to keep functional.
- CONVENIENCE – Choose ones that are accessible to and from for customers, employees and vendors altogether both for public and private transport. A commercial investment property would cease to be effective if people find it difficult to reach.
- FLEXIBILITY – Investing in a property that allows for multiple uses makes a great investment because its versatility is good value for money. If it can easily be tweaked as needs change overtime, it becomes a space that does more than needed.
- ADEQUATE SPACE – Commercial teal estate must have enough room for everything and everyone. The exact dimensions however will vary as users needs are alao different.
- LONG USEFUL LIFE – Why invest on something that wouldn’t last to begin with? That’s just a total waste of money and no investor seeks that.
- LOCATION – The location of a commercial investment property says a lot about whether or not it adds value to the business and by how much. It is also a driving factor that affects the presence or absence of the above aforementioned features.