Midway recently completed CityCentre Five, a 15-story, 227,000-square-foot office building in its CityCentre mixed-use project near Interstate 10 and Beltway 8.
If you run a small business, then you need to make sure that you find the right property from which you can operate. This is where commercial real estate can be helpful. At the same time, when you start the process of looking for the right property, it is easy to become overwhelmed by all of the various options. How can you make sure that you find the right property for your business? There are several points that you should keep in mind.
The Location of the Commercial Real Estate
One of the first factors that you need to consider when it comes to commercial property is the location. Location is always the most important factor in real estate. Everything else is going to stem from this. Therefore, take a look at the location of the property. Is it in a safe area? Is it going to be easy to find for potential clients and business partners? Is it a good place from which you can market your products and services? How much traffic is there in the area? All of these are going to impact the quality of the commercial property you might purchase.
The Investment Value of the Property
In addition, you also need to carefully consider the investment value of a property. In addition to your other business assets, the real estate is also going to be an important asset. Over time, the value of your property should go up. If the property in the local area is gradually devaluing, that this is a serious issue and you might want to look elsewhere. Therefore, take a look at the track record of some of the property in the local area. If the value of real estate in the local area is increasing, then this is a good sign.
Building a New Building versus Buying an Existing Structure
You also need to consider whether or not you were going to construct a new building on the property or if you are going to purchase an existing structure. If you are purchasing an existing structure, then you need to know everything about the history of the building. Have there been any repairs completed recently? When did the building go out? If the building right for your industry? These are some of the most important questions you need to answer before you buy a building.
Find the Right Commercial Property
These are a few of the most important factors that you need to keep in mind if you are looking for commercial property. By taking the time to think about these factors ahead of time, you can find the right property for your business needs.