Deciding on the perfect property for your needs can be daunting. Start by asking yourself, “what is the purpose of my purchase?” Investments need some consideration; for example, for how long do you wish to hold the property? Long-term investments might be more successful if a property already has quality tenants. On the other hand, while purchasing an empty building and filling it with a tenant is likely to give a greater profit, this carries a higher risk of long holding costs.
Looking for a property for your business? We consider all aspects. For example, zoning might affect your ability to manufacture, or restrict the uses of a medical office – “no overnight stays”, for example, which can significantly affect your decision. Allow our experienced agents to do a full market analysis to ensure the property will meet your needs.
MARKET ANALYSIS INCLUDES CONSIDERATIONS OF…
Comparing buildings that have sold recently isn’t enough. You’ll also need to consider nearby lease rates to ensure your property’s cashflow All cover expenses while providing you with income.
Does your ideal property need to be near an airport, post office, laboratory or vendor? Considerations like proximity to other business must be researched.
Every business is different. Software development might require highly skilled workers, while manufacturing needs manual labor. A demographics report will show the locations of your preferred workforce.
Research the other buildings that are available in your area and compare pricing versus building type and functionality.
Will your potential tenant need a high or low traffic count? While most retail stores want the busiest corner in town, industrial or office tenants might not want to deal with excessive traffic.
What prices have other buildings sold for? Knowing exactly what other properties have been purchased, when, and the details of the buildings will help you to identify fair market value for your property.