Commercial real estate has huge earning potential for owners and investors. Of course, the commercial properties you acquire are only assets if they are making you money. If you are considering purchasing a property, there are selling points you need to make sure they have already, that you can add, or that you can improve to meet your standards.
Location is everything in real estate, regardless of whether it’s residential or commercial. A good location for a commercial property will depend somewhat on the type of commercial property. In general though, a good location is one that is located close to other essential businesses and services, but not too close to your competition. By placing yourself in closer proximity to such businesses and services, you can take advantage of the way they attract consumers who could also end up visiting your property.
Good Parking Lot
No matter what sort of property you have, having a good parking lot is important, especially if you’re located in an area that doesn’t have a robust public transportation system. A well-done parking lot will cost less in repairs and is a good long-term investment for your property. You need to have adequate parking to support the needs of your tenants. If you aren’t able to provide enough parking, you’ll lose your tenants as they leave in search of other properties that do support their parking needs.
First impressions matter, so if you want your commercial properties to be appealing to buyers or renters, you need to make sure they have curb appeal. The exteriors of your properties should be clean and well maintained. Your landscaping should be neat and attractive. Windows should be spotless and clear, both inside and out. Any address numbers should be easy to see and in good condition as well. Once you have your property in good condition, take quality pictures and use them for your listing.
In the event that you need to sell your commercial properties down the road, having the right selling points can make a difference in how easy it is to sell them. They also make it easier to attract tenants for your properties. Such selling points include being located in a convenient location, having a good parking lot, and maximizing curb appeal. These aspects will make the properties more attractive to potential renters and buyers alike, making it easier to turn your commercial properties into real assets.
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