Commercial properties are up for sale all the time; they just do not get put up as preferential listings. You need to know how to navigate the often complex market. Start by reading this article.
Whether buying or selling, negotiate. Be certain your needs are met, your concerns are heard, and you champion a fair, honest price for the real estate.
Location is vital to commercial real estate. What type of neighborhood is the property in? Compare its growth to similar areas. You want to know that the community will still be decent and growing a decade from now.
If you are trying to choose between two good commercial properties, think big. Finding adequate financing on a piece of property takes time and patience. Generally, this is the same situation as if you were buying something in bulk, the more you buy the cheaper the price of each unit.
When choosing a broker, ask about their experience specifically in the commercial real estate market. Make sure they are specializing in the desired area that you’re selling or buying in. Allow the broker to acknowledge your wish for an exclusive agreement between the two of you.
Net Operating Income, or NOI, is one of the most important metrics used in commercial real estate. You must understand what it means, and how it’s used. For the investment to be profitable, it has to produce more income than operating expenses.
Check out where the utility hook-ups are on any commercial property. The property must have access to electric, water, sewer and maybe gas for it to be a viable commercial real estate purchase.
If you put the commercial property up for sale, have it inspected. Any problems or necessary repair identified by a professional inspector should be addressed and fixed as soon as possible.
Finding the right commercial real estate property is only part of the equation. Remember, a little knowledge can really help.
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