6 things to consider when searching for a commercial property

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Whether you’re looking for a new place of business or considering an expansion, there are many things to consider when searching for a commercial property. Here are six things you need to consider when narrowing down your options and finding the right building for your company’s needs.

Photo by Andreea Ch

Location

It is important to consider the location of a property when evaluating it for purchase. In fact, location is one of the most important factors in determining a commercial property’s value. In addition, location affects security and safety, as well as accessibility. 

The better the location, the more people will want to do business there and thus create demand for your product/service. It’s especially beneficial if you plan to open up a retail store or restaurant because customers will need easy access to your building.

Layout

The property’s layout is one of the most important factors you should consider when looking for space. This means not only what you can see from outside but also how people will enter, exit, and move around within the building.

Consider how many people will be using this space at once—and whether they will likely use it at any given time during your lease term.

Parking

For your employees, parking means they can get to work quickly and easily. For customers, it means they’ll find a spot close to your storefront when they’re ready to visit. Of course, if you deliver goods or items that need a pick-up, there’s nothing worse than not having a space for delivery drivers to unload or pick up, so ensure that your new property has a place that accommodates this without getting in the way of your employees and customers.

Security & Passive Defense

When looking for a commercial property for your business, it is important to consider security and passive defenses. You want to ensure cameras are in place and working properly. The next most important thing is providing good doors, windows locks, and a building intercom system.

Passive defenses such as fire alarms and sprinkler systems will help keep your business safe from harm. These systems will alert you if there’s an emergency like a fire or flood so you can take the necessary action before anything worse happens.

Lease Terms

 Lease terms are important when searching for a commercial property for your business. Therefore, it is important to determine what kind of lease terms you can offer and what you can afford.

You should also consider how long you will be in the business and how much room you need at this time. If you plan on growing, looking at properties with longer lease terms and enough space for expansion is best. On the other hand, if you are looking for a short-term rental, it is best to find a property that offers short-term leases with low rates.

Long Term Value

A long-term lease agreement should last for at least five years or more; however, it can vary depending on your business needs and your plan to do with the property when your lease expires. The terms of how much rent will increase each year should also be agreed upon before signing any dotted line so that all parties know what they agree to.

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