You could be hoping to purchase a commercial property that you can use for running your own business, or you might want to try investing in real estate for the first time. Either way, you might be a little nervous about making this big investment. If you’re curious about how to successfully buy a commercial property, consider these tips.

3 Secrets to Successfully Buying Commercial Property

  • Determine What You’ll Use It For
  • Set Your Budget
  • Work With The Right Professionals

Determine What You’ll Use it For
First, think about what you’re going to use the property for. If you’re hoping to rent it out, you may want to look for a multi-use property that could be used for many different types of businesses. If you’re hoping to buy a property for your own business, then you should write out a list of your specific needs so that you can find a property that is suitable.
Set Your Budget
It is possible to spend a little or a lot when buying commercial property. To avoid getting in over your head with your investment, start looking into your financing options and your budget ahead of time. This can help you determine just how much you can afford to spend on a commercial property, and it’ll give you a chance to start making arrangements for how you’re going to pay for that property, too.
Work With the Right Professionals
If you are new to buying commercial property, it’s important to work with people who know what they are doing. Hire a good real estate agent to help you look for a property that is right for your needs. When you find a property and are ready to take the plunge, have a good real estate lawyer run a title search and read over the contract before you sign anything. Also, if you’re going to be renting out the commercial property, consider working with a commercial property management firm. If you take this approach, you won’t have to worry about finding or handling immediate tenant issues yourself.
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

Join the friendly business environment at the 12th Street Professional Plaza catering to a diversity of innovative businesses and entrepreneurs centrally located in New Town, perfect for small office professional user. This building offers adequate off-street parking, common lobby with elevator and restrooms and tinted impact resistant windows. Unit 310-C is an open one room space approximately ~120sf with windows, shared bathroom and Kitchenette. Monthly rent quoted includes WIFI, utilities, base rent and CAM, in addition is applicable sales tax. $750 Active

1111 12th Street 310 C KEY WEST, Florida

1 Baths 120 SqFt

Join the friendly business environment at the 12th Street Professional Plaza catering to a diversity of innovative businesses and entrepreneurs centrally located in New Town, perfect for small office professional user. This building offers adequate off-street parking, common lobby with elevator and restrooms and tinted impact resistant windows. Unit 310-G is an open one room space approximately ~120sf with shared bathroom and Kitchenette. Monthly rent quoted includes WIFI, utilities, base rent and CAM, in addition is applicable sales tax. $600 Active

1111 12th Street 310 G KEY WEST, Florida

1 Baths 100 SqFt

Exciting opportunity to lease a turnkey restaurant space at Santa Maria Resort, surrounded by a vibrant landscape of hotels and resorts. Seeking an upscale restaurant operation with seating for 76 guests, this fully-equipped venue is ready for your culinary vision. $15,000 Active

1401 Simonton Street CU1 KEY WEST, Florida

2 Baths 3,258 SqFt

Great Visibility for your business in this 528sqft corner commercial space. Off street parking for customers. Monthly Rent is Base Rent only. In addition are triple net charges and sales tax.Vacant and Easy to See. $3,000 Active

929 Truman Avenue A KEY WEST, Florida

1 Baths 1,520 SqFt


[button size=”large” url=”https://homes.floridakeyscommercial.com/i/newest-commercial-properties-for-sale-in-key-west-fl” newtab=”true” expand=”true”]View ALL[/button]