A Cheat Sheet to Buying Commercial Property

commercial-propertiesBuying a commercial property for your business is crucial because it can either make or break your success. All companies need space and more than that it needs an effective area to house its operations. It’s not easy to find the perfect asset in the least amount of time so to help you on such a humongous endeavor, here is a cheat sheet to guide you along.

LOCATION – This is an item that you’ve pretty much heard of again and again and for good reason. Location is after all a big player in terms of business especially in commercial spaces. The more convenient and easily accessible it is then the better. Plus, heavy foot traffic always provides great exposure. Businesses need to be reachable in as little effort as possible so always op for properties situated accordingly.

ONGOING COSTS – You do not want to buy an asset with hefty repairs and maintenance costs as that will surely call for large expenses in the long run. Before closing out on a deal, be sure that you’ve got the numbers checked first.

FEATURES – Depending on your industry and your use of the commercial property, there will be features that you require and you have to make a list of them beforehand. This shall help you target down on the listings that match your needs so you don’t end up wasting time looking around choices that do not fall within your requirements.

USEFUL LIFE – The longer the asset’s useful life is then the better. As the name suggests, this pertains to the length of time by which the property is considered to be functional or useful for its users.

DEPRECIATION – Assets depreciate in value and the lesser the rate then the better it will be. You do not want your property to go zero in just a few years. Plus, it would be best to actually invest in something with appreciation potentials or those that tend to rise in value over time. This is seen in many growth areas and highly sought after locations. Businesses can earn from the capital gains in time should it cease to make use of the property and want it sold.

PRICE – When buying commercial property, you have to make sure that you’ve got the market value validated and all. You do not want to be overspending on an asset that costs significantly less. Always call for a surveyor to get this checked.

Characteristics of an Attractive Retail Property for Sale

In the business world, space is a very important aspect. Think about it. Goods and services need a place for them to be sold and made available to the market. You need a space to showcase them. This makes it a very important task for entrepreneurs to seek only the best retail property for sale. To help you with that, we have come up with a list of characteristics that define an attractive retail property for your customers, vendors, business partners and investors.

  1. It is conveniently located.

In other words it is accessible, the more modes of transportation to and from it then the better. Moreover, if it is located within the heart of the economic zone or the melting pot of a huge chunk of your town or city’s population then great. You not only chose a very accessible asset but you also give it great exposure. Remember that you would not want to give people a hard time trying to get to your shop because if you do then you should start expecting minimal sales and huge losses.

  1. It has ample parking space.

Don’t you just hate it when you have to visit a place and you’ve got nowhere to park your car? Don’t give the same dilemma to your potential customers because if you do then they are likely to drive away instead of drop by.

  1. It is situated in a safe and secure town or neighborhood.

Safety and security is necessary to safeguard your business, the corporate assets, your employees and your clients. Find a retail property in an area that has a low crime rate and is not susceptible or often suffers from serious natural calamities and other accidents.

  1. It is spacious and well ventilated.

Enough space should be available for you to put in your furniture, equipment and products. At the same time, enough space should be available for people to move around. One has to carefully gauge the need of your business so you don’t end up trying to cramp in everything.

  1. It is in good condition.

Of course, always see to it that the retail property for sale that you pick is in very good condition. It would be wise to get a chartered surveyor to examine points like actual market value, building condition, possible ongoing costs, remaining useful life and safety among others to ensure that the asset is indeed of quality.