When you’re looking to buy a commercial property, it is crucial that you identify and communicate your investment goals and objectives. This will ensure the best outcome for you in your commercial real estate vision.
Here are some elements to consider when evaluating your goals and objectives.
Lease or Occupy?
When purchasing a commercial property, you need to decide what your intentions are. Are you going to use it for business yourself or will you lease and keep as an investment property? This will have a significant impact on the type of property you choose and is important to consider.
Assessing the physical structure of a property can directly impact the type of tenants you attract. For example, if you choose a space that is considered to be multi-purpose, it will help you attract more potential tenants. How do you envision your property? Who do you want to attract?
In identifying and discussing your goals and objectives, you should have a clear idea about the type of tenant you’re targeting. Normally, you’d aim to attract a financially stable tenant with a long-term lease, however there are other factors to consider. Do you want to consider a property that allows for multiple tenants? Does the type of business they will be conducting on your property matter to you?
By researching current and future infrastructure developments in an area, you will develop a better understanding of the level of demand for commercial properties. This is an important factor to consider in establishing your goals.
Altegra Property Group can assist you with all your commercial real estate requirements. Contact us today to begin discussing your goals and objectives. At Altegra Property Group, our clients always take priority.