When you're looking for a commercial property to buy, lease, or invest, your best resource for information is your CENTURY 21 Commercial® Agent. He or she can address opportunities in your area, and will answer your questions - from location selection to appraisals to property management. Your CENTURY 21 Commercial Professional can provide information for you to evaluate the advantages that may come from investing in a commercial property, as well as track market trends and opportunities. Contact an Agent now to get started with your commercial property search.During your commercial property search, there are many different kinds of property to consider. These include:
Retail property generally ranges from individual shops to large neighborhood retail centers. Retail centers drive traffic and offer several cross-sell opportunities by including various non-competing businesses, sometimes complemented by an anchor store. Larger centers often include "pad sites" typically occupied by banks and fast-food operations. Retail properties are readily available in various locations and sizes that map to your specific needs, goals, and resources. Properties are typically non-owner occupied and may be utilized for income, tax relief, and appreciation. Consult with your tax/financial advisor about specific tax and financial advice.
Small strip centers generally range from five to ten tenants and cover 6,000 to 15,000 sq. ft. Many large grocery chains initiate these as a brand anchor store with 10-20 smaller shop-space tenants. CENTURY 21 Commercial Sales Professionals have resources available to help you evaluate the property for length of existing leases, financial strength of the tenants, age, condition of the property, and risk exposure to increased expenses. These factors should be considered to help in matching the best commercial property to your expectations.
As residential income properties, apartments are designed to be leased or sold to multiple tenants for habitation. These commercial sites range from a small condominium to a large apartment complex and should meet your specific needs, goals, and resources. Properties are typically non-owner occupied and may often be utilized as a source of a series of cash flows, tax benefits, appreciation, and capital accumulation. Consult with your tax/financial advisor about specific tax and financial advice.
The number of individual dwelling units included in a single project is typically the overall method of classifying apartment properties. The CENTURY 21 Commercial® System considers only projects containing at least five units to be commercial property. Apart from the number of units, residential income properties can be classed according to general types of unit design, such as convertible, efficiency, garden, loft, low-/high-rise, penthouse, studio, or townhouse.
Farm and ranch properties are agricultural acreage primarily for food-product production (including cattle and dairy, crops, hay, alfalfa, etc). Farm and ranch properties present a wide variety of options-whether you are looking to buy, lease, or invest in an agricultural enterprise. Agricultural acreage primarily produces food products, with hunting and/or recreation being of significant value to some ranches. Related "agri-business" properties encompass a broad industry that spans food processing, storing, and marketing. CENTURY 21 Commercial Sales Professionals can provide you with information to help you understand production acreage and the investment potential of agri-business.
Farms and ranches are generally classified by size or income. For example, large properties may have more than 10,000 acres whereas smaller ones may be suitable for only a part-time income or a residence with an additional source of income. Whether you are looking to assume existing production or to start up a new agri-business, CENTURY 21 Commercial Sales Professionals can provide assistance to help locate the property that aligns with your resources and location requirements.
Manufactured housing communities are communities where residents generally own their homes and rent the land. The community may offer various amenities, such as a pool, clubhouse, tennis courts, and activities. Communities could have established restrictions, such as age requirements for retirement living. Properties may be utilized for income, tax relief, and appreciation. Consult with your tax/financial advisor about specific tax and financial advice.
These communities are typically characterized by the total number of lots. Fully serviced lots may include electrical, sewer, and water hookup. Lots may also be seasonal or have winterization capabilities for year-round occupancy. The land is often rented on a yearly lease, but communities might offer day or week terms, as well.
Evaluations of manufactured housing communities may include a review of the financials as well as occupancy rate and geographic location. Proximity to attractions, highways, and cities, as well as other factors, may contribute to the value of the property and influence decisions. CENTURY 21 Commercial Sales Professionals can assist you in the process as you measure cash flow, cap rate, and net operating income figures, all of which are factors when evaluating this type of investment.
Industrial Properties include manufacturing, warehousing and distribution centers.
Industrial buildings are often owner or user-occupied, and multi-tenant industrial parks include a collection of single- or multi-tenant buildings. These range from manufacturing facilities, warehouses, and distribution centers to high-tech office sites.
Industrial properties can be complex with regard to the physical characteristics of the buildings and the operational requirements of the intended business. CENTURY 21 Commercial Sales Professionals can provide information to help you assess the property as it relates to your needs. CENTURY 21 Commercial Sales Professionals facilitate the search, and help you as you conduct the analysis and negotiation of the property. They also have access to other local resources that can assist with evaluating the electrical power requirements, ceiling and roof heights, dock versus grade loading, truck turnaround, lay down yard requirements, environmental issues, fiber optic availability, rail sidings and more. In providing all of this information, the CENTURY 21 Commercial Sales Professional can help you define and locate the property that aligns more closely with your resources, expectations, and location requirements.
Land is undeveloped, raw property, or property that is ready for construction. Buying commercial land can present numerous options-whether you are considering commercial real estate to buy, lease, or invest. The property can be totally undeveloped or ready for construction. Developers are the first step in converting raw land into an income-producing property. With the help of your CENTURY 21 Commercial Sales Professional, you should check into local zoning, city's or town's master plan, as well as local attitudes about growth and development. These factors are worth considering for every decision if land is to be utilized for income, tax relief, and appreciation. As always, you should consult with your tax/financial advisor about specific tax and financial advice.
"Ready for construction" properties are typically developer improved-upon raw land with grading, utilities, and possibly streets. Zoning will ultimately determine the possible use. Your CENTURY 21 Commercial representative will assist you in the analysis process to ensure that the land is appropriate for your needs. Possible development includes residential, commercial, office park, golf course, and more. With the help of your CENTURY 21 Commercial Sales Professional, you can research information on civil engineers, attorneys, surveyors, environmental testing companies, local officials, and authorities to assist in your property evaluation.
Motels and hotels can be an interesting opportunity-whether you are looking to buy, lease, or invest. These commercial properties range from small roadside motels to larger franchise hotel chains to quaint bed-and-breakfast facilities. Lodging properties are readily available in various locations and sizes to map to your specific needs, goals, and resources. Properties may be utilized for income, tax relief, and appreciation. You should consult with your tax/financial advisor about specific tax and financial advice.
Motels and hotels are typically classified by the number of rooms, amenities and ratings-if available. Evaluations of such properties should include gross-income trends and deferred maintenance, as well as occupancy rate and geographic location. Proximity to attractions, highways, and cities, as well as other factors, contribute to the value of the property and should influence every investment decision. As with any property, improvements to the conveniences, landscaping, and overall atmosphere may help to grow revenue.
Even if you've just started thinking about selling, contact us now. A CENTURY 21® real estate agent will be in touch to discuss ways to sell your property faster and for the best price. Where is the property you will be listing?