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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:

  • All Businesses for Sale
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Newest Key West Commercial Properties on the Market

Fantastic lease opportunity for your business in one of the best locations in Key West downtown next to Mallory Square & Sunset Celebration, Custom House Museum, Mel Fisher treasure Museum, Key West Aquarium, Tourist Information Centre, and nearby resorts like the Opal Hotel, Ocean Key and Pier House and other hotels. High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street! Ground level storefront with large display windows and approximately ~1250 sf of retail space with an additional ~900 sf of space that could be combined next door for a total of ~2150sf . In addition to the monthly base rent quoted, tenant pays NNN fees plus sales tax. $8,300 Active

308 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

Fantastic lease opportunity for your business in one of the best locations in Key West downtown next to Mallory Square & Sunset Celebration, Custom House Museum, Mel Fisher treasure Museum, Key West Aquarium, Tourist Information Centre, and nearby large resorts like the Opal Hotel, Ocean Key and Pier House and other hotels.High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street!  Ground level storefront with large display windows and approximately ~900 sf of retail space with an additional ~1250sf of space that could be combined next door for a total of ~2150sf . In addition to the monthly base rent quoted, tenant pays NNN fees plus sales tax. $6,000 Active

304 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

Prime redevelopment opportunity! Located in a rapidly changing area of Stock Island, this Mixed Use zoned property has many viable uses. Current uses include a small commercial storefront and a residential apartment. With some creative vision, this 10,039 square foot lot is a diamond in the rough nestled only a couple of blocks away from the famous Perry Hotel and Marina complex along with Bernstein Park. Please call today for additional information. $1,000,000 Active

5515 5Th Avenue Stock Island, Florida

1 Beds 1 Baths 3,367 SqFt

Location Location! Excellent Opportunity to join the thriving & attractive business environment the 300 block of Duval has to offer. Approximately ~1600sq.ft. of retail space available with parking and a private outdoor courtyard area with an additional 275sq.ft., 335-F Duval Street.  Located in the heart of the Key West Duval St. tourism district with heavy foot traffic passing by. Monthly rent quoted is not negotiable, 4% annual increases apply, triple net charges & sales tax are included in the monthly rent quoted. Please do not disturb business. $13,602 Active

335 Duval Street F KEY WEST, Florida

1 Baths 1,600 SqFt

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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 Office

RE/MAX ALL KEYS REAL ESTATE
305-296-1400 Office

Business Address:
517 Duval St Suite 200, Key West, FL 33040

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RE/MAX ALL KEYS REAL ESTATE
305-451-0060 Office

Business Address:
98880 Overseas Hwy, Key Largo, FL 33037

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7220 Red Rd., South Miami, FL 33143

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