If your business is growing and you need more space to operate it, you might be looking for commercial space to buy or rent. Renting commercial space is very popular, as buying it can be expensive, but buying commercial property might be the better route for you to take. If this is something you are interested in, here are several factors you should evaluate as you look for the right commercial property to purchase.
The Zoning of the Property
One of the top things to evaluate when looking at commercial property is the zoning of the property. The zoning of a property tells you what you can and cannot do on the property, and you will need to make sure you limit your search to properties that are zoned the way you need them to be zoned. While it is not impossible to get the zoning of a property changed, it can be time-consuming, costly, and difficult. It is always better to buy a property with the necessary zoning to avoid going through problems.
The Size and Layout
The second factor you will need to seriously evaluate is the size and layout of the property. If your business has certain needs, such as having semi-truck docks, you should look for a property that already has this feature. In fact, you should make a list of the top things you need to find in a property, including the size, layout, and important features, and you should give this list to your real estate agent. You should understand, though, that the only way to truly have property that fits every need you have is by building the building yourself. Because of this, you may have to sacrifice with certain needs you have and invest in making the changes when you purchase the property.
The Ability to Expand
If your business is looking for property right now because it has grown so much, you should factor the potential future growth into your purchase. This means that you may want to look for commercial property that is bigger than what you currently need. Or, you could look for property to buy that has space around it that you could use for future expansion of the company. This would come in handy in the future if your business continues growing, as it would prevent you from having to move again.
As you prepare to shop for commercial property, make a list of what you are looking for and begin your search by contacting commercial real estate services.