An industrial property needs to meet several important criteria in order to be appealing to businesses and commercial property investors. Here are key considerations for evaluating industrial real estate. Use It is crucial that the operating space has the appropriate zoning classification for a business’ proposed use of it. If a space is newly developed or does not currently have the correct designation, business owners need to get an accurate picture of what the zoning process involves. Likewise, it may be necessary to procure an operating license for certain types of industrial activities, so businesses also need to learn about applicable requirements in the county where a property is situated. Condition The condition of industrial real estate can figure heavily into its value and marketability. Compared to other types of commercial real estate, a space’s aesthetics are not as important to buyers and renters as its functionality. A property’s infrastructure and design are integral to its prospective utility. Outstanding capital needs can also bear greatly on a commercial property’s intrinsic value. Ultimately, it is necessary to study local commercial markets to make an informed assessment of properties' listing prices. A comparison of comparable properties can help purchasers identify potential bargains as well as room to negotiate when asking prices may appear too high relative to current market values.
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AuthorHello, my name is Roger Dennison and I'm a successful commercial real estate broker, with more than 20 years in the field. Archives
January 2023
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