3 Tips for Buying Commercial Property To Rent

Many people think about purchasing residential property and renting it out to tenants. However, commercial properties can actually make an even better investment. If you would like to purchase commercial property so that you can rent it out for a profit, you’ll want to get started by remembering these three tips.

Do your research about the area
Look for the best deals
Be Willing To Fix It Up

Do Your Research About the Area
Location is very important with just about any type of real estate. When it comes to running a business, though, it is arguably even more important than for residential real estate. Make sure that you purchase commercial property in an area where business owners will want to set up shop, or you will have a hard time renting out the property and making a profit off of it. Plus, you can ensure your property values go up by choosing commercial property in a good area.
Look for the Best Deals
If you want to make the most out of your investment, it’s important to look for reasonable pricing on commercial property. If you can’t find any good deals, you may want to wait a little longer before making your purchase. Do your research about pricing in the area, and work to negotiate a lower price before buying if you can.
Be Willing to Fix it Up
You might get lucky and find a commercial property that is ready for use right away. If you want to maximize your investment, though, you may have to spruce up the building a little bit. After all, business owners will be more likely to want to rent from you if the property is in good shape. Plus, fixing up and maintaining the property is a good way to increase and maintain its value so that you can one day sell it for more than you paid for it.
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

Exceptional commercial waterfront opportunity in the heart of Marathon. This prime commercial property consists of five contiguous lots totaling approximately 30,000 square feet, with 300 feet of highway frontage and 300 feet of waterfront. The property includes 18 boat slips with a control depth of approximately 5 feet, offering outstanding maritime access and functionality.Zoned MU-M (Multi-Use Maritime), this versatile zoning allows for a broad range of uses including maritime industry operations such as fishing equipment sales and service, seafood processing, marine-related manufacturing, and boat storage. Additional permitted uses include retail, restaurant, affordable housing, and residential development, making this a uniquely flexible investment property.Parcel IDs include: 00362930, 00363940, 00362950, 00362960, and 00362970. The seller will provide a complete list of all personal property included in the sale, including major furniture, fixtures, and equipment. This is a rare opportunity to acquire a substantial, high-exposure commercial property with extensive waterfront and mixed-use potential in one of the most desirable areas of the Florida Keys.

$6,500,000 Active

38 Coco Plum Drive MARATHON, Florida

1 Baths 5,439 SqFt

Waterfront 103 Unit RV/ Mobile Home Park in Key Largo! A rare find anywhere in the Florida Keys or even all of South Florida. Same family ownership since 1996. The Bayside Site encompasses 6.15 Acres Uplands and includes 29 wet boat slips. County recognizes 53 Residential Dwelling Units (48 MH & 5 Attached), plus 50 Transient Residential Dwelling Units from 50 RV lots. 98 Units are currently online. The owners only own one MH, the others are all tenant owned.URM Zoning allows possible commercial redevelopment including Vacation Rentals & Marinas or remain affordable & sell and transfer entitlements. Baybottom lease with State of FL. Site plans are in place for options to redevelop the uplands. One plan design lays out 33 RV pads and 29 Mobile Homes, 62 units total. The Balance of recognized but unused entitlements may be sold off. Another redevelopment calls for 35 Single Family Homes and 63 Hotel Bungalow Suites. Both plans include Clubhouse, Restaurant, lazy river plus two additional pools, coffee shop and souvenir shop as matter of right without going through the County major development process.

$21,000,000 Active

101600 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 3,717 SqFt

Boutique commercial, ground floor office condo for sale in Old Town at Seafoam Condominiums. Only one of two Commercial units in the building. This 665 sf. office is turnkey and perfect for Professionals looking for a small office to own vs. paying rent every month. Great location and close to everything in town either by walking or biking. Exterior has several large pane windows for natural light inside. To enter off the sidewalk there are a set of gorgeous, hand made mahogany french doors. Also, there is an interior side door for private access. Interior has 12' ceilings and the layout includes front seating area with a receptionist window, administrators office and private office in rear. Half bath is ADA compliant. This unit has been totally renovated and ready to move in. Renovations include new Brazilian cherry wood floors & keystone flooring in the bathroom. upgraded electric and lighting, freshly painted, Central AC and wireless Security system. Seafoam building has coded entrance, atrium hallways and large in-ground concrete pool exclusively for Condo owners and guests. HOA fee of $1,286/mos. includes insurances and reserves. Includes Liability, Wind and Flood insurance. Building has never flooded and in X flood zone. Building is up to date with SIRS and milestone inspections. Additional $587/mos. special assessment for windstorm insurance. Same owner since 2008.

$560,000 Active

812 Fleming Street 2 KEY WEST, Florida

1 Beds 1 Baths 665 SqFt

Prime Mixed Use Income Producing property for sale. Total of 6 units. There are 2 Commercial units on ground floor facing Truman Ave. Both Commercial spaces now occupied by the Seam Shoppe, a long term, stable tenant. On the 2nd floor there are 4 good size apartments. Each 1bedroom and a loft bedroom and 1 bath. Each has use of large, outdoor deck in back. Potential Gross rental income approx. $15,000/mos.Total of 6 Water and Electric Meters. Rear parking lot for 4 + or - cars. Building in good condition and well maintained.Excellent Replacement Property for a Buyer looking to perform a 1031 Exchange.Owner may consider Seller financing to a Qualified Buyer at Seller discretion.

$2,150,000 Active

1109 Truman Avenue KEY WEST, Florida

4 Beds 6 Baths 4,410 SqFt

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