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3 Secrets to Successfully Buying Commercial Property

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:

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Newest Key West Commercial Properties on the Market

Prime location in Islamorada!  Pelican Plaza is located across from Founders Park.  Highly visible on US 1 with 1.69 acres. 5125 sf net leasable retail space with plenty parking. Asking $25 sf Triple Net Lease-NNN $10,677 Active

86701 Overseas Highway ISLAMORADA, Florida

10,334 SqFt

Professional Friendly Business Environment, hard to find small lease space suitable for office or storage, Unit C101 offers 342sf of space with windows and private bathroom. Elevated, concrete structure with off street parking. In addition to the monthly rent quoted is sales tax, Tenant is responsible for water and electric. Minimum one-year lease $725 Active

5570 3Rd Street C101 Stock Island, Florida

1 Baths 7,520 SqFt

Terrific investment opportunity! Commercial building with three ample leasable spaces and great visibility on US1. Building is in excellent condition with marquee signage with upgraded electrical and 120 feet of frontage. Units are individually metered and can function well for retail, office or food & beverage businesses. Ample parking in front, along the side and in the rear of the building.  Opportunity for expansion behind the building as well. $729,000 Active

30971 Avenue A Big Pine, Florida

3 Baths 2,271 SqFt

Listed $50,000 under appraised value. Rare opportunity to purchase the Historic 7 Mile Marina less than a mile from 7 Mile Bridge with over 360ft of US-1 frontage! Commercial property consists of protected marina, 3,600 sqft building. Marathon approved transferable building rights allowing 9,332 of commercial floor area, two tax keys totaling +/- 54,768 sqft or 1.25 acres. Property being sold ''AS IS'' no warranties or representations and no leases. Includes a deed restriction for neighboring property not to store straps within 75 ft of NE property line. Prior to 2014 fire, property had a 150 seat restaurant and office. $3,150,000 Active

1090 Overseas Highway MARATHON, Florida

2 Baths

View ALL

Posted in: Business Loans, Business Solutions, Buyers, Buying Commercial Real Estate Tagged: Buying Commerical Property, commercial property ideas, commerical property, Secrets to Buying commerical property, three things to think about when buying commerical property

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Key West, FL 33040

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98880 Overseas Hwy.
Key Largo, FL 33037

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