Making Smarter Investment Choices Begins With Knowledge

1.       Location

2.       Location

3.       Location

There is a skill in researching prime development locations for commercial use. Simple entering into this industry on just a hunch can be costly. Depending on the type of business you are trying to develop and/or attract. Researching the right location is key. Any resourceful realtor will be able to provide you with historical trends within the area you are looking to purchase. Those who are looking at purchasing commercial property for the rental income should also dedicate time to do the research. Being able to present the merits of a property will help attract quality tenants.

Quality before you buy

The research may be time sensitive. As there might be other buyers who could be competing to purchase and/or develop in the same location. Here’s a short checklist of questions to get started for those considering purchasing commercial property:

1.       If it is a pre-existing building, what were the demographics of the previous owners? What are the demographics of the neighbouring establishments?

2.       If it is pre-development, what businesses currently reside in the general area?

3.       Has there ever been a lien placed on the building?

4.       What is the turnover of tenants?

5.       Is there any foreseeable developments that could jeopardize the everyday business (i.e erecting additional overhead transmission cables, new transportation infrastructure, etc.)?

6.       Can signage be added to make the business more visible?

7.       Is the building up to code? When was it last inspected?

Have the property inspected

Hiring a reputable inspector could save you thousands. If it is concluded that the building is safe and free from any commercial liabilities, a prospective buyer will want to invest in the presentation of the business. From enticing signage to alert new customers about your business to finishing touches of the displays inside the building

A dedicated team that can help you add value to your storefront can be found with a simple phone call to Allegiance Construction. Call us today if you would like to discuss improving the layout and/or presentation of your commercial properties.