When looking for commercial investments, investors have to be smart and quick to see what matters most and what doesn’t. With the insane amount of options in the market, it is quite easy to feel overwhelmed. One can get sidetracked and choose something that doesn’t exactly fit the bill.
We all invest in real estate for different reasons but regardless of that, we must make sure that the following crucial qualities are present in the commercial property we buy.
- Location – With any type of asset, location is a very important quality but all the more for commercial establishments. Because these spaces are meant to be used for business reasons, location plays an integral role. They have to be conveniently situated in a sense that going to and from them is a breeze. They have to be in close proximity to transportation hubs and roads. They must be easy to find too.
- Safety – To safeguard not only assets but also the safety of employees and customers alike, the property and its surroundings must be safe. Structural integrity is important. Electrical wirings and pipes must be in good condition. The location must also be in an area or city with low crime rate. In fact, even certain architectural and landscape features that add precautionary measures are more favorable.
- Foot Traffic – By definition, foot traffic pertains to the amount of pedestrian and public exposure that an establishment or brand gets from people whether or not they are customers and regardless if they make a purchase. The more foot traffic a particular property gets, the more benefits it bring as it can turn non-customers into clients and regular clients into patrons. Examples of areas with assets high in foot traffic include airports and train stations, malls and central city markets.
- Parking Space – Almost everyone owns a car and with that comes the need to park it. A commercial property that does not have ample space for this will drive customers away. When buying, this is a feature that must be present at all costs unless you want customers to simply drive by and leave you out.
- Value – When looking for commercial investments, always get a property valuation. It is common for assets to depreciate overtime but it would be better to invest in one that appreciates instead, right? Prime areas with proximity to significant establishments and structures often get value upgrades. Also, check if the property has any renovation potential that can add value in the future.
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