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What to Know Before You Buy a Commercial Building You Plan to Lease Out

What to Know Before You Buy a Commercial Building You Plan to Lease OutIf you’re buying a commercial building so you can lease it out, here’s what you need to know first.

Mixed Use Commercial Spaces

If you’re looking to increase your financial or investment portfolio by adding some real property, there are many options to consider. You could try to flip some houses in a low cost area slated to grow. Or, you could get into the commercial real estate market. This may include any different number of options for commercial spaces. Mixed use properties have much to offer, both for tenants and investors.

  • Office space
  • Eateries
  • Storage
  • Residential space
  • Public space

Each of these categories provides a strong potential for long term and reliable income opportunities. You can be a commercial landlord, or property manager, or you can become a silent investor and hire a property management company to handle the details. Although there is much money to be made by purchasing and leasing commercial real estate, there are also some pitfalls you want to keep an eye out for along the way.

Insurance Liability and Costs

As one of the biggest expenses in commercial real estate, insurance premiums seem to be constantly on the rise. Depending on type of space you have, you will will need to purchase specific policies. In the case of mixed use buildings, you may need additional fire coverage for one area and internal flood insurance for a separate business. Leasing to office building tenants or residential customers is a little easier in terms of insurance policies, because these groups are not considered high risk in most cases. Individual residents can even purchase their own renter’s insurance since you won’t be required to cover their personal property.

Zoning Laws and Parking Permit Changes

Many things are subject to change for any property owner. So, you want to ensure that you are up to date with all zoning meetings. Attend them. It’s your responsibility to know what’s going on in the community and give your input when it could potentially impact your own business. Parking changes, such as adding metered parking, closing off street parking, or proposing to close or change fee structures for nearby parking garages all have a potential impact on your bottom line. Don’t risk losing your profits by not being aware of upcoming community changes. Perform your due diligence regularly and enjoy the rewards of commercial real estate.

Hot Key West Business Opportunities

101600 Overseas Highway $20,000,000

101600 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 3,717 SqFt

139 Seaside Avenue $10,500,000

139 Seaside Avenue KEY LARGO, Florida

5 Beds 7 Baths 6,740 SqFt

5730 4Th Avenue $9,995,000

5730 4Th Avenue Stock Island, Florida

9 Baths 6,444 SqFt

1622 Overseas Highway $9,900,000

1622 Overseas Highway MARATHON, Florida

3,400 SqFt

12685 Overseas Highway $8,500,000

12685 Overseas Highway MARATHON, Florida

5,607 SqFt

517 Duval & 518 Bahama Street $7,500,000

517 Duval & 518 Bahama Street KEY WEST, Florida

4 Baths 7,854 SqFt

3428 Roosevelt Boulevard N 1,2,3,4,5,6 $5,995,000

3428 Roosevelt Boulevard N 1,2,3,4,5,6 KEY WEST, Florida

7 Baths 8,046 SqFt

$5,250,000

Key Largo, Florida

2 Baths 4,680 SqFt

96180 Overseas Highway $4,900,000

96180 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 1,445 SqFt 0.960 Acres

919 - 921 Duval Street $3,750,000

919 - 921 Duval Street KEY WEST, Florida

9 Beds 6 Baths 4,173 SqFt

101350 Overseas Highway $3,250,000

101350 Overseas Highway KEY LARGO, Florida

2 Baths 6,674 SqFt

1100 Indies Drive S $2,725,000

1100 Indies Drive S Duck, Florida

4 Beds 4 Baths 3,402 SqFt 0.290 Acres

100150 Overseas Highway $2,400,000

100150 Overseas Highway KEY LARGO, Florida

2,436 SqFt

352 Seaview Drive E $2,200,000

352 Seaview Drive E Duck, Florida

2 Beds 3 Baths 1,440 SqFt 0.190 Acres

218 Bristol Court $1,999,000

218 Bristol Court Tavernier, Florida

3 Beds 2 Baths 1,628 SqFt 0.150 Acres

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

Offices on Eaton Street located in downtown Key West. If you are looking for a small private office join the friendly business environment at Key West Theater catering to local small business owners. Office 215 is a corner office with a large open space and close, approximately 320sq.ft.  Wifi, electric and water included, sales tax is in addition to the monthly rent quoted. $1,400 Active

524 Eaton Street 215 KEY WEST, Florida

2 Baths

2nd Story lease space suitable for office/work shop/storage in a 9 unit compound on Stock Island. Large front room with built in cabinets, 2nd smaller room for storage, additional office space and a half bathroom. Secure fenced lot, an off street parking space and circular drive for truck delivery or pick up. Rent includes utilities. First, Last and Security (one month rent) will move you in. $1,745.79 Active

5625 2Nd Avenue UP Stock Island, Florida

6,219 SqFt

Retail Space available in one of Key West's three major power centers. Overseas Market boasts one of the most desirable tenant bases on the island with Winn-Dixie, Denny's, Ross, CVS Drugstores, Verizon, GNC, Goldman's Deli, BodyZone, AutoZone, Five Guys, Dominos and more... There is ample parking & traffic light entry into the shopping center. Monthly rent quoted is Base Rent Only, in addition are triple net charges and sales tax. $4,083.33 Active

2730 Roosevelt Boulevard N KEY WEST, Florida

1 Baths 178,707 SqFt

Commercial Space Directly in the Middle of Gulfside Village. Triple Net Long Term Lease with existing Verizon Wireless tenants. Excellent Visibility! Excellent Rental History! Gulfside Village offers ample parking spaces, clean shopping center and friendly retail owners. Unit 21 has 1,860 sq feet of space, half bathroom and large storage/office area in the back of the store. Please DO NOT DISTURB the existing tenants/company. $600,000 Active

5800 Overseas Highway 21 MARATHON, Florida

1 Baths 1,860 SqFt

View All

Posted in: Buying a Business, Buying Commercial Real Estate, Buying Tips, Commercial Real Estate, Investing, Leasing, Leasing Commercial Real Estate Tagged: Buying a Commercial Building, Fixer-Upper, Mixed-Use Commercial Spaces, Office Space, Public Space, Residential Buildings, Restaurants

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Key West Office

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33040, 33043, 33042, 33050, 33036, 33037
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