The property market has experienced some major ups and downs over the past decade. For a while people thought that price would just keep going up and they would be able to cash in on their equity. However, the big market crash in the summer of 2007 has changed everything. Prices have dropped dramatically and buyers are now few and far between.
The south west states have been particularly hard hit by the recession. Nevada was one of the states that had experience significant growth and was really riding the economic boom to a huge extent. The dramatic drop in prices has really been felt by many people, yet at the same time it also offers opportunities to many. The Henderson commercial real estate prices have come down to more realistic and affordable levels, allowing many new investors to enter the market.
There are many great properties on the market right now that can offer nice returns on any investment. The key issues to consider are the location, size and condition of building, parking, rental potential and price. One of the first steps is to meet with an experienced commercial Realtor who can give the best help and advice to their clients.
Some people are just looking to lease. This can be a good way to test the waters and see how viable a building really is. Some places look great on paper but never really work out due to a number of factors. They may have an awkward layout that is off putting for potential renters. They may be located in a bad part of town or they may simply lack sufficient parking.
Parking is one of the most crucial factors in the success of any commercial building. Every office space needs good parking. If the building is intended for high turnover offices such as doctors or retail then there must be enough parking spaces for each unit. Many people get upset if they cannot get a good space and have to walk more than a minuet or two in order to access the building.
Location is also crucial. A good down town location in the heart of the retail district is always a good buy. These units command the highest rents and are usually occupied at all times. An out of town location may be good for more industrial buildings that are not so dependent on constant foot traffic. For example a gym or sports complex can be a little out of town and still do really well.
Full occupancy of the units is another important consideration. After all the investor needs to make money from the building. If they want to sell it they will need to show clear evidence of its viability. With this in mind the owner should look around at comparable buildings in the area to see how much they rent for and their occupancy history.
Commercial buildings vary in size significantly. Buyers should have a clear idea about the possible uses for the units before making a purchase. They must also know how much rent they will have to charge to break even or hopefully make a profit. They should then research how much rents are in neighboring units to ensure that they are not over priced.
The south west states have been particularly hard hit by the recession. Nevada was one of the states that had experience significant growth and was really riding the economic boom to a huge extent. The dramatic drop in prices has really been felt by many people, yet at the same time it also offers opportunities to many. The Henderson commercial real estate prices have come down to more realistic and affordable levels, allowing many new investors to enter the market.
There are many great properties on the market right now that can offer nice returns on any investment. The key issues to consider are the location, size and condition of building, parking, rental potential and price. One of the first steps is to meet with an experienced commercial Realtor who can give the best help and advice to their clients.
Some people are just looking to lease. This can be a good way to test the waters and see how viable a building really is. Some places look great on paper but never really work out due to a number of factors. They may have an awkward layout that is off putting for potential renters. They may be located in a bad part of town or they may simply lack sufficient parking.
Parking is one of the most crucial factors in the success of any commercial building. Every office space needs good parking. If the building is intended for high turnover offices such as doctors or retail then there must be enough parking spaces for each unit. Many people get upset if they cannot get a good space and have to walk more than a minuet or two in order to access the building.
Location is also crucial. A good down town location in the heart of the retail district is always a good buy. These units command the highest rents and are usually occupied at all times. An out of town location may be good for more industrial buildings that are not so dependent on constant foot traffic. For example a gym or sports complex can be a little out of town and still do really well.
Full occupancy of the units is another important consideration. After all the investor needs to make money from the building. If they want to sell it they will need to show clear evidence of its viability. With this in mind the owner should look around at comparable buildings in the area to see how much they rent for and their occupancy history.
Commercial buildings vary in size significantly. Buyers should have a clear idea about the possible uses for the units before making a purchase. They must also know how much rent they will have to charge to break even or hopefully make a profit. They should then research how much rents are in neighboring units to ensure that they are not over priced.
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