How to Choose the Right Commercial Property

Choosing the ideal commercial property is a crucial decision for any business owner. It requires careful consideration to ensure the space will serve your current needs and aid your success and future growth. Read on to learn about some factors to consider when deciding on the best commercial property:

Location

This is one of the most critical considerations, as it determines your accessibility to your staff, clients, suppliers, and other resources or amenities. The property’s location should depend on the type of business you have. For instance, if you have a retail store, choose high-traffic areas with your target market. Meanwhile, offices can be situated in less busy areas with easy access to public transport.

Surrounding Area

Of course, you must choose a commercial space located in a safe area. Assess the neighborhood and find out if crime is common there or if it’s a particularly secure environment, no matter the time of day. Besides that, check if natural hazards like flooding are likely. Doing so will help ensure your, your staff, and your clients’ safety when going to and from the property.

Size and Layout

Different businesses have varied size and space requirements. Do you need several meeting or function rooms? Or perhaps a spacious storage area to stock your products? Determining your specific needs allows you to choose a property that will help run your business efficiently and ensure a comfortable space for your clients and employees.

Operating Expenses

Your budget plays a crucial role in choosing a commercial space. So, it’s essential to determine the property's operating expenses before deciding. These include taxes, utilities, maintenance fees, and other necessary services. Choose the most cost-efficient option that meets your business needs. You can also consult an expert to make sure your computations are accurate.

Lease Terms

If you plan on leasing, review the terms carefully to ensure they’re fair and reasonable. Check the lease's duration, cost, and exit terms. Besides ensuring that it'll fit your budget, it's best to look for a contract that offers flexibility in case of changing business needs. If you need help negotiating, seek help from your real estate agent.

Consult a Trusted Leasing Agency

Considering these essential factors can help you make sound decisions when choosing the best commercial property for your company or business. If you need more help deciding, talk to an expert. Contact our real estate professionals at Jake Johnson Properties in NY to learn about your options.