There are quite a few special factors that should be considered when purchasing commercial real estate, apart from the challenge of finding well-priced commercial real estate for sale. While hiring commercial property advisors isn’t a bad idea, we’ve listed here a few things you can be aware of before you take that step.
Overall Site Infrastructure
When you look for commercial listings, there are a lot of properties that may look good on the surface but simply won’t fit the needs of your particular project. A very thorough investigation of the site’s capabilities will be in order. Points of access, zoning, proximity to the right transportation mediums, and visibility are all crucial to the success of every commercial project no matter whether you’re buying commercial property for investment purposes or looking to complete your own project. Just because something is zoned commercial land doesn’t mean that it will work for a particular project, or even be a valuable investment.
High Speed Internet
It almost seems like it doesn’t need to be said at this point, access to fiber optic lines or other ways of acquiring high speed internet is a must for any commercial project. However, it is something worth remembering as the absence of a good method to gain access to the internet could derail an otherwise healthy project.
Insurance
While you might be more concerned with commercial property prices and more immediate costs, one thing to remember is that insurance costs can depend on a variety of factors including distance from emergency services. Aside from the obvious safety concerns of being far away from fire or medical emergency services, you wouldn’t want a lack of foresight to come back to bite you when it comes time to get insurance.
Sewer
One of the most important pieces of information to look at is how sewage is taken care of on a site. Sewers and septic systems might not seem like the most glamorous structures to plan for, but they are one of the most crucial systems to consider as their cost can vary widely depending on capacity and availability. An impractical and costly revision to a sewer system can be extremely costly and cause lots of trouble in the long run if not considered from the beginning of your project.
Overall, be sure to work with a reputable commercial real estate broker, do your research, and consult with experts in the field before you make the big decision about which commercial property to buy.
