A retail space is utilized for a very crucial arm in operations. Referred to as the frontline where goods and/or services are sold and exchanged with customers for a fee, it serves as the selling point where efforts are rewarded with profits. This is also the very reason as to why seeking quality retail properties for sale is a very important task.
But what makes up a great retail asset? Let’s all find out.
Useful Life – The longer the estimated useful life of the asset is then the better even if such period is deemed longer than its intended use. Not only will it result to a lower depreciation cost per period but it shall also provide for some additional returns in the event that it is sold in the future.
Structural Integrity – Nobody buys a building, regardless of area and size, which is structurally impotent. Its foundation and construction must be of high quality to ensure length of use as well as safety for its users.
Area and Dimension – Depending on the type of business as well as the intended use of the space, area and dimensional needs will vary. However, one thing stands true for all. The Property must be huge enough not only to hold equipment and goods but also large enough to allow free and easy movement for both employees and customers. Cramped space is a huge blunder in retail establishments.
Safety and Security – Businesses need to safeguard a lot of things such as assets, employees and customers. This means that the location of the asset must be in a safe and secure area. Of course, this does not only pertain to crime rate but also to other risks such as fire, flood and the frequency of natural calamities.
Foot Traffic – Described as the level by which a brand or product is exposed to the public, regardless if they buy, are current or prospect clients and are simply passing by or entering the shop, foot traffic is a crucial ingredient when deciding on which retail properties to choose; the higher the level the more chances of a sale and an increase in potential market.
Accessibility – Always seek retail properties for sale that are conveniently accessible for everyone, this includes employees, suppliers and customers. It would be particularly hard to sell products or services if people could not reach the store easily or would have to go into great lengths in order to do so.