The term commercial real estate refers to any kind of non-residential property used for generating some profit. Restaurant, offices, stores and warehouses are great examples. It is essential to find the right commercial space whether one requires a warehouse or office. The success of any business relies upon finding an appropriate choice of commercial real estate property. Seasoned commercial real estate agents are available to help out with this undertaking.
One should take extra precaution when searching for suitable premises for conducting business operations. It is advisable to avoid making any hasty decisions as these could impede positive and expeditious returns on investment. There are various helpful things which someone should have in mind when seeking for any piece of commercial real estate.
Undertake Necessary Preparations before Visiting Potential Properties
Getting equipped with the appropriate decision-making information can play a vital role in finding the appropriate kind of property. You can carry along a camera for taking pictures of such space, tape measure for double-checking square footage, along with notebook and a calculator. One needs to also obtain a copy of the building’s blueprints for keeping on file.
Performing Proper Zoning of Property
It is prudent to inform commercial real estate agents the exact kind of business one intends to put up at a given piece of property prior to even commencing the search. This is because you cannot set up certain types of businesses in some areas. The real estate agent can for instance find an attractive building within an office park, yet the venture could be a retail store. In this case, the office park would not have been zoned for retail operations. This makes unnecessary investigating that space as it cannot be utilized for the business.
Establishing the Building’s Impression
Determine what impression the building radiates via its appearance when approaching it. This needs to include whether such appearance has the potential of alienating the customer base you target. The appearance may not be very critical depending upon the nature of your business. Think of finding a different location if the building appears somewhat shabby for upscale clothing.
Checking the Interior for Defects
Check for obvious defects within the space once inside, which could be missing flooring, damaged ceiling tiles or even unattractive or broken lighting fixtures. Do also inspect the heating and air unit. As well, it helps finding out about the operational status of ductwork along with the outside unit. The person who rents at times assumes the role of conducting repairs to the building. As such, one need decide on the maintenance budget required for fixing anything wrong with the real estate property. Any structural concern with the building would however more likely fall within the owner’s or landlord’s responsibility.
Investing in any form of commercial real estate space marks a big step for any startup business. It is thus vital to ensure consulting with professional commercial real estate agents for answers on unfamiliar areas expertise, especially pertaining to the structure and strategic positioning of a building.