Understanding Commercial Real Estate Listings

Chances are, if you’re looking at commercial real estate listings, you have some experience with real estate listings already. The internet has brought us a long way with finding information out about everything, including property. Although this isn’t quite like looking for your first place after college, it is similar.

Diamonds in the rough
You want to think about the potential and possibilities of every place you check out. If you’re concerned about budget, read between the lines on commercial real estate listings to see where you can be creative. Sometimes a little imagination can make a huge difference in determining how to utilize space. When it comes to utility costs, think about the age of the building and find out what has been updated. It might not take much to update a building and stop drafts. If you’re owning rather than leasing, find out what you need to do to update every listing.

Everything but the
Whether you’re buying or leasing, it’s very important to ask what’s included with the rental space. Furnishings, like everything from light fixtures to that weird painting that the owner has a thing about so he wants it to stay right where it is, are sometimes included. If anything is included and you’re renting, make sure that the owner or property manager is responsible for the maintenance so you don’t get stuck fixing damage caused by a former tenant. If you’re buying, make sure that all included appliances are in working order.

Some properties include utilities, which can lessen the burden of variable expenses on a month-to-month basis. Although it’s not common unless you’re renting a shared space, included utilities are a huge perk for the tenant. Also take into account parking for your employees, clients, and other visitors.

Sharing is caring
One more thing to keep in mind when looking for commercial real estate listings is that we live in the age of shared workspaces and remote working. Shared workspaces are popping up left and right, with good reason. Typically the way a shared space works is you have a building that is then divided up into spaces which can be rented out for a flat rate (depending on size) for smaller companies that don’t need a whole office space or retail space. The model for this is similar to that of an office park, but it tends to be much smaller scale and for much smaller businesses.

Some businesses decide that it makes sense for their employees to work remotely. It’s a smart move for these sorts of businesses to maintain a headquarters for periodic meetings, internally and with clients. Keep the possibility of working remotely in mind when you’re looking through commercial real estate listings to allow for the possibility of a smaller space to save money.

Commercial real estate listings can be overwhelming, but using imagination and resources make the process infinitely smoother. Use the economic development authority and commercial real estate agents to figure out how you can make the most out of commercial real estate listings for your business.