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Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

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Tips for Buying a Commercial Building

Tips for Buying a Commercial BuildingWhen you’re buying a commercial building in the Florida Keys, here’s what you need to know:

  • Which commercial real estate sector you want to invest in
  • The local area around the building you want to buy
  • What finance experts say
  • What construction experts say
  • How to deal with the legal side of the process

Know Which Commercial Real Estate Sector you want to Invest In

There are different types of commercial buildings that you can buy. They include retail, industrial, office, multifamily, and mixed use. For example, multifamily commercial buildings are the least risky of this bunch. This is because you rent out the building to families that are less likely to delay in rental payments. The downside is that the return on investment can be quite low because you are leasing the commercial building to individuals instead of companies.

This move will help you define your financial goals and weigh the available options.

Know the Area

Before you buy any commercial building, do some research on the area. How is the security of the place? You want somewhere secure because it will increase your likelihood of getting tenants. You should also know about local laws and regulations. Find out the tax rates on commercial buildings. Are they feasible given the condition of the market?

Another thing that you should look out for is the availability of social amenities and accessibility. If the commercial building that you want to buy is located in a favorable area, the value of the property will go up at a faster rate, guaranteeing you a higher return on investment.

Consult with a Finance Expert

Commercial real estate is expensive. This is especially true if the building is located in a favorable area. There are certain hidden costs and tax charges that you may have pay when purchasing a commercial building. Consult with a professional accountant so that you can know about all the unknown costs.

The financial expert will also advice you on the most appropriate financing method.

Consult with a Construction Expert

Unless you are qualified structural engineer, never buy a commercial building without involving a construction expert. They have to conduct a property assessment and determine the condition of the property. They will look at whether the building is structurally sound and worth the money.

Not all sellers are honest; some could sell you a commercial building that needs a lot of maintenance. When you involve a structural engineer in the initial purchase process, you avoid such scenarios.

Deal with the Legalities of the Process

If you have already settled on a commercial building, ask your attorney to carry out due diligence for most of the legal requirements. They should make sure that you have secured all the necessary permits and begin the process of transferring ownership.

Hot Key West Business Opportunities

1 Henry Morgan Road W 1 $38,000,000

1 Henry Morgan Road W 1 OTHER, Florida

99 Beds 119 Baths

1 Infinity Bay Road W 145 $28,000,000

1 Infinity Bay Road W 145 OTHER, Florida

99 Beds 170 Baths

1 Media Luna Resort Road W 126 $26,000,000

1 Media Luna Resort Road W 126 OTHER, Florida

99 Beds 109 Baths

$10,000,000

Other, Florida

30 Beds 33 Baths

27340 Overseas Highway $6,900,000

27340 Overseas Highway Ramrod, Florida

3,969 SqFt

1 Lands End  West End Roatan W $6,750,000

1 Lands End West End Roatan W OTHER, Florida

25 Beds 27 Baths

328 Whitehead Street $4,995,000

328 Whitehead Street KEY WEST, Florida

5 Beds 5 Baths 2,759 SqFt 0.330 Acres

7537 Overseas Highway $3,495,000

7537 Overseas Highway MARATHON, Florida

6,750 SqFt

91865 Overseas Highway $2,300,000

91865 Overseas Highway Tavernier, Florida

15 Beds 10 Baths 10,150 SqFt

100150 Overseas Highway $2,100,000

100150 Overseas Highway KEY LARGO, Florida

58835 Overseas Highway $1,499,000

58835 Overseas Highway MARATHON, Florida

3,414 SqFt

1000 Eaton Street $1,200,000

1000 Eaton Street KEY WEST, Florida

1 Baths 989 SqFt

Pirates Road $799,000

Pirates Road Cudjoe, Florida

Pirates Road $799,000

Pirates Road Cudjoe, Florida

2.200 Acres

Pirates Road $799,000

Pirates Road Cudjoe, Florida

96,547 SqFt

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!

In the meantime, check out these 1-click searches:

  • All Businesses for Sale
  • Office Buildings
  • Hotels, Motels & Bed & Breakfasts
  • Bars & Restaurants
  • Marinas for Sale in Key West
  • Investment Properties
  • Business Opportunities

Newest Key West Commercial Properties on the Market

Offered for sale is Vaca Cove a 7 unit vacation rental property located in Marathon, FL.  The property is comprised of 7 stilted waterfront homes, dockage accommodating up to 40' boats per home, resort sized pool, fishing dock/kayak launch and built in 2016.  Each home is 1,740 Sq. Ft., 4 bedroom, 3 bath, open floor plan living area, large laundry, water front porches with open water views, private spas and covered parking.  This is an active vacation rental property with established management and increasing numbers.  Please do not go to property unscheduled.  Call for more information. $6,900,000 Active

12555 Overseas Highway A MARATHON, Florida

28 Beds 21 Baths 12,180 SqFt

The BB & T building is a centrally located landmark in one of the best areas in Key West. A prestigious location for this expansive second floor condominium executive office suite. Ideally suited for any professional office; medical, attorney, accountant, investment, real estate and or continued insurance enterprise. This tastefully decorated and expansive office suite offers many desirable features: More than 1900 sq. ft., 2-private balconies facing east and west, kitchen, reception, multiple private offices, bull-pen, conference and ample storage. Common area baths located immediately adjacent to the suite. Utilities included. $5,500 Active

1010 Kennedy Drive 203 KEY WEST, Florida

1,912 SqFt

The BB & T building is a centrally located landmark in one of the best areas in Key West.  A prestigious location for this expansive second floor condominium executive office suite. Ideally suited for any professional office; medical, attorney, accountant, investment, real estate and or continued insurance enterprise.   This tastefully decorated and expansive office suite offers many desirable features:  More than 1900 sq. ft., 2-private balconies facing east and west, kitchen, reception, multiple private offices, bull-pen, conference and ample storage.  Common area baths located immediately adjacent  to the suite.  The CAM monthly fee includes the utilities; insurance, building maintenance and 24 hour security.  Seller financing available.  Office furnishings negotiable. $585,000 Active

1010 Kennedy Drive 203 KEY WEST, Florida

1,912 SqFt

3600 sq. feet of CBS Twin Tee Construction WAREHOUSE with 17' interior height Insulated and Air conditioned.  3 Overhead doors. Ample Asphalt  Parking Cabinet Shop, Window Shop, Endless possibilities ******* COULD BE SUBDIVIDED *********Additionally available 1000 sq. feet of office space plus upstairs apartment.  Pricing will depend on size of space that is  leased. $26 Active

Key Largo, Florida

1 Beds 3 Baths

View All

Posted in: Buyers, Buying Commercial Real Estate, Buying Tips, Commercial Real Estate Tagged: Buying a Commercial Building, Tips, What to Look For

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305-296-1400 Office
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410 Caroline St.
Key West, FL 33040

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98880 Overseas Hwy.
Key Largo, FL 33037

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