What makes a worthwhile and valuable commercial property for sale? Which characteristics would make it highly covetable that it gets snatched up by buyers in a split second?
Prime assets and investments do not stay in the market for long. A smart investor knows not to let an opportunity pass by so expect competition and high demand for these. But how exactly do we know which ones are worth the trouble? We’ve asked the experts and here are 8 adjectives to sum them up.
- Strategic – We’re talking business here so the asset needs to serve not just a purpose but also add value to the goal. That means it needs to have high foot traffic, is in close proximity to complementary establishments and is smartly situated which brings us to our next adjective.
- Convenient – Location-wise, it has to be convenient. It should be easy to find and is accessible both through public transportation and private vehicles and this applies not only to customers and prospect clients but also to employees and suppliers as well.
- Spacious – A commercial space needs to have adequate space. The dimensions can vary depending on an entity’s needs and use for the property. Regardless, it should allow for ease in movement, governed by ergonomics and allows for ample storage.
- Valuable – Finance-wise, a commercial property for sale should be valuable not only at the point of purchase but throughout its useful life. This means that it stays functional, of course with proper maintenance. Choose those with promising appreciation potential as well. It’s an investment after all and we’d prefer if it grows instead of depreciates.
- Affordable – We don’t mean cheap because a covetable commercial property for sale isn’t given out for free. Affordability here means reasonability in price as well as a low ongoing cost.
- Buildable – A flexible asset which allows for renovations and tweaks is highly covetable. Its ability to transform and be altered to fit growing functions and purpose makes it versatile and thus cost-effective and efficient.
- Safe – There are a lot of assets to safeguard and this does not only pertain to office equipment, inventory or furniture but to people too.
- Durable – A commercial property for sale should also be durable. There’s no point to investing something that won’t last. Perhaps real estate assets don’t last forever but the good ones can withstand through considerable amount of time and with proper maintenance even more.