Tips for Buying Commercial Property

While it goes without saying, investing in commercial properties, including retail outlets and office spaces, is a different experience from private residential. Purchasing a business to financially bolster your own business requires number crunching, finding capital and doing your homework on taxes. However, with the right kind of guidance, any investor is capable of growth through complex commercial real estate.

What is Commercial Property?

According to Bankrate.com, commercial property is defined as “Any property that is zoned or used solely for business purposes is a commercial property.” This includes a range of building types and structures, from shopping centers and strip malls, to retail stores, restaurants, industrial spaces, farms, office buildings, hotels, and even vacant lots. Essentially, it is property that is used primarily to generate a profit.

Educate Yourself

Educating yourself might sound daunting, but we’re here to tell you it is not only easier to do than you think, but it is essential to making good choices. Just as we all look up information about vehicles we are interested in buying before we start test driving, it is a good idea to look up the following to get a good grounding in the topic and what you’re  about to face:

·                     Listen to podcasts

·                     Read commercial real estate books

·                     Watch videos on YouTube

·                     Talk to those who have already invested, or from commercial property realtors – get in touch!

·                     Join a local real estate investing group, or find one online that will allow you to become a member.

Find a Professional

It is the most obvious, but it has to be said. Professionals like Patty and Trip know the ins and outs of commercial property, buying and selling.  Find a commercial property realtor you can trust and contact them today – they will be happy to provide guidance based on their experience and their network of resources.

No Slow Down in Commercial Property – Adapting with New Trends

As we emerge from a challenging year, we’re excited to see new trends appear on the horizon. Especially for commercial property and mixed use property in middle Georgia. A combination of retail, residential, office and industrial is a trend that we cannot ignore going forward, and it’s certainly one that Patty and Tripp can support with their portfolio of commercial properties throughout Macon, Milledgeville and other key middle Georgia areas.

Commercial Property means Mixed Use Property

In its most distilled form, mixed use property is exactly as it says. A combination of two of more types of real estate. So, we’re seeing an emergence of office space that also contains residential units, or industrial properties developing in pedestrian and residential settings.

Adapting to the emerging markets has allowed businesses to stay on track with their own growth and development plans, while coping with a different environment for commercial customers. This also results in providing greater stability across the board – everyone is in a better position, financially. By combining uses, the developers and property owners are better able to provide for their own tenants and resident businesses, who are also likely to experience challenges during this time.

Middle Georgia Commercial Growth Opportunities

Even large-scale industrial properties are experiencing a renaissance in lieu of the pandemic. Factories, warehouses, and containers throughout middle Georgia are being repurposed to create functional office and residential spaces, reducing our carbon footprints and supporting more sustainable models of property development. And, with more families living in multi-family situations and more people sharing homes with fellow renters, our multi-family units just make sense.

Find a wide range of industrial and commercial properties in our listings, and talk to us if you have any questions about alternative development options. Mixed use and repurposed properties are here to stay – don’t get left behind, call us today, or search our listings here.