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4 Things You Need To Know Before Buying A Commercial Property

May 9th, 2017

Buying A Commercial PropertyFinding the right property to build your commercial space on is crucial to the success of your business. In fact, it is just as important as the products or services you offer. There are many factors to take into consideration before beginning your search.

Here are 4 of the most vital things to consider:

Location, Location, Location!

Is the spot easily accessible? Is there enough parking? Whether you are building a new retail store or strip mall, restaurant or office think about how easy it will be for customers, employees, and others to get there. A close proximity to main roads and public transportation stops is ideal. Also, if your business will require large trucks to make deliveries then make sure to consider how much space will be needed and how accessible it will be for that purpose. Even the most successful business will not survive in a bad location that is too small, unsafe or that does not have adequate parking. Issues of concern that impact the neighboring area such as parking, deliveries, and dumpster location will often be dealt with at the local zoning hearing.

What kind of impression will it make on your customers?

When searching for a new commercial property, remember to consider if the area and property reflect your brand image. Make sure to tour the neighboring streets and consider the impression this location will make on your customers. Is it safe? Will your business be open during the evening and would your customers feel safe coming there in the dark? Consider neighboring businesses as well. A questionable business establishment next door will deter potential clients from visiting your store, restaurant or office.

How is the property zoned?

One thing many companies don’t realize when purchasing commercial property is how important zoning is. Commercial zoning laws dictate how the property can be used and which business activities can be conducted in that particular location. It is not always easy and is quite often time-consuming to apply and obtain a variance to operate in non-conforming use.

Will building on this property be cost-effective?

Consulting with an engineer, architect, and commercial contractor prior to purchasing your property is crucial. If you are purchasing a property with a pre-existing structure an engineer’s report is necessary. Issues like lead paint, asbestos or even plumbing or electrical issues will need to be dealt with prior to construction. A licensed contractor will be able to tell you if the changes you are considering are feasible and cost-effective.

Buying a new commercial property? We have the knowledge and experience to get your commercial project done. Call Ben’s at 516-623-2945 to learn more about our commercial construction services.

Service you can trust, a reputation we have earned:

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Suffolk license: #27322-H
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