So you’ve made the decision to enter into the commercial real estate market.

The right property in the right hands can result in a healthy investment opportunity. Therefore, in order to make sure that you’re buying the right property, we recommend running through a quick checklist to ensure you’ve covered all the bases.

The single biggest factor to consider is the property’s location. Retail businesses need to be close to their customers as convenience is a major consideration. Manufacturing businesses would want easy access to highways, rail, or harbours – depending on their product. You would also want to factor in travel convenience for your staff or tenants.

Zoning is another deal breaker for commercial real estate. Do you need office space or factory space? If you are planning on leasing out some of your space, is there a market for this type of business space? Make sure that the property you choose has the correct zoning for the required use.

What is the condition of the buildings on the property? General wear and tear is to be expected, but look out for asbestos or other environmental hazards in older building which may cost you money to rectify. Can you realistically renovate if the need arises – or will you have to strip this building back down to its bones?

Does this property have enough space to expand if required? If you outgrow the warehouse, can you realistically add on an extension? Or, is there the possibility of adding on more office space to lease out further down the line?

If you have made the decision to buy commercial real estate, then you want to have all these details at your fingertips in order to achieve a sound business result. We recommend talking to a professional early in the process to assist in establishing this vital foundation information.

The experts at The Property Partnership are available to assist in the purchase of commercial real estate, as well as the valuation and advice that you may need. Visit us at The Property-Partnership East Rand for more information.