Office, Retail, Industrial: Securing Property Investment SuccessTerohan Nula March 19, 2015 0 COMMENTS
Commercial real estate is a gold mine. Compared to other investment types, commercial properties are more lucrative because they easily increase in value. The assets generally appreciate when you spend time improving the property. Coupled with a great location and reasonable price, improved function and aesthetics will cause the property to sell much faster in the real estate market. External factors like supply and demand imbalances also make property values go up.
There is a steady flow of revenue when it comes to commercial real estate, which is why many choose to invest in it. If you are planning to jump into the property industry, experts from the renowned real estate firm McGees Property list down some tips on the purchase of different types of commercial properties: office, retail and industrial.
Offices are a safer investment compared to the others. This is because office tenants often stay in the property longer than those who lease industrial or retail spaces. Because of this, you can guarantee a more secured investment return.
Narrow your search for offices by looking for properties that feature appealing exteriors. This is something of particular importance for prospective business tenants. Inspect the property and look if there is enough natural light in the area. Office personnel spend most of their day indoors, so natural views and light are features you will need in such spaces. It is also important that the space be close to other offices and other establishments.
The success of a retail space relies on its location. Retail businesses are willing to pay more for properties that are accessible to customers.
To do this, you will need to look at traffic patterns around the area. Spend some time observing the number of cars passing the store and pedestrians passing by. Make sure to be familiar about public transportation options that run through the area. These things affect the likelihood of customers going into the stores, so retail businesses are always looking at these factors.
Industrial properties should be accessible to trucks, trailers and heavy equipment. Location is also important in this type of investment. Narrow your search by looking at industrial work sites located near the main road.
The roof of the main building must be high enough for forklifts and trucks to gain access. Doors and gates should also be wide enough and have extra room, too. Facilities like toilets and assigned spaces for office work are necessities you should look into as well.
Keep these tips in mind as you invest in commercial property. Work with reliable property firms for more valuable insights that will help you navigate the industry.