When you’re looking for the right retail building for sale, you need to know what features you need for it to be successful. Here’s the scoop.
Look for These 9 Key Features When You Purchase a Retail Store
Commercial property seekers often search for prime retail sites. Some building features prove essential in almost every case, however. Consider using this helpful checklist to assist you during your hunt for retail premises:
- Check zoning first
- Evaluate the commercial building marketplace in the neighborhood
- Find a site close to transportation services
- Ensure the building meets code requirements
- Think about customer and service entrances
- Review signage options
- Provide adequate parking
- Obtain sufficient display and storage space
Check Zoning First
As a preliminary matter, ensure your local zoning board has approved a building for retail use. You may avoid an expensive mistake by checking into this issue. Sometimes cities won’t allow retailers to conduct business from locations with residential zoning due to concerns about heavy customer traffic volumes.
Evaluate the Commercial Building Marketplace in the Neighborhood
You’ll want to consider other businesses located within the immediate vicinity, also. Moving right next door to a busy competitor may (or may not) offer advantages. You probably won’t want to locate your firm next to any potentially incompatible enterprises.
Find a Site Proximate to Transportation Services
Try and find a location served by public transportation facilities. A building situated along a bus or subway route offers advantages. This type of location helps customers reach your store.
Ensure Your Building Meets Code Requirements
Don’t invest in a “fixer upper” retail building under most circumstances. If you need to spend a lot of money bringing the premises up to Code, you’ll likely reduce your firm’s initial profitability.
Think About Customer And Service Entrances
Does the building supply an easily accessed main customer entrance? Customers won’t shop at your store if they cannot locate the front door easily. Additionally, you’ll want to ensure you maintain sufficient service entrances to accommodate unloading bulky inventory shipments.
Review Signage Options
Signage serves as the lifeblood of many retailers. Pay close attention to available signage options and costs!
Provide Adequate Parking
Does the building offer ample, convenient parking? If not, can your customers obtain parking nearby? Today, some shoppers bypass boutiques which lack convenient parking access.
Obtain brightly illuminated premises, or pick a property that you can add lighting to yourself.
Obtain Sufficient Display And Storage Space
Finally, ensure your building furnishes a sufficient square footage to accommodate both display and storage goals. The needs of your individual business may determine your company’s space requirements. The ratio of width to depth matters in some storefronts, too. Research your retailing sector carefully to evaluate your likely square footage needs before you begin searching for a building.
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