When you’re looking for a commercial property to buy, lease, or invest, your best resource for information is your SettonRealty® Commercial Professional. He or she can address opportunities in your area, and can answer your questions, provide information – from location selection to appraisals to property management to help you make an informed decision.
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 complexes. Properties are typically non-owner occupied and may offer the opportunity to be a source of cash flow, tax benefits, appreciation, and capital accumulation.
Office buildings or office space can be as simple as a residential home in a business district or as complex as a fifty story office tower. Often occupied by multiple users or a single end user or tenant, they are either Low Rise (less than 7 stories), Mid Rise (7-25 stories) or High Rise (anything above 25 stories).
Such types of properties can be usually classified in three different ways:
- Class A building generally means the property is high quality, new or in new condition, modern design with excellent finishes and with many amenities. They usually command the highest lease rates in the market.
- A Class B office is in good condition, and highly leasable. They have standard finishes and fewer amenities available although they usually command a lower rate than a Class A building.
- A Class C property generally is “dated” or contain some functional obsolescence like poor layout or not able to be retrofitted for elevator service. These properties are usually found in less desirable locations.
Retail properties generally range from individual shops to large neighborhood retail centers. Retail centers drive traffic and may 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 typically non-owner occupied and may be utilized for income, tax relief, and appreciation. You should consult with your tax/financial adviser 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 brand anchor stores with 10-20 smaller shop-space tenants. Setton Realty® Commercial Professionals have resources available to help you evaluate the property for length of existing leases, financial strength of the tenants, age, and condition of the property and risk exposure. All these factors should be considered in matching the best commercial properties with your own investment objectives.
Mixed-Use is a unique type of development that combines the elements of residential, retail, office and entertainment.
Mixed-Use projects are being developed in both urban and suburban markets and on a global scale. A mixed-use development is a real estate project with planned integration of some combination of retail, office, residential, hotel, recreation or other functions. It is pedestrian- oriented and contains elements of a live-work-play environment. It maximizes space usage, has amenities and architectural expression and tends to mitigate traffic and sprawl.”
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. Setton Realty® Commercial Professionals can provide information to help you assess the property as it relates to your needs. Setton Realty® Commercial Professionals can help you facilitate the search, and help conduct the analysis and negotiation of the property. They also have access to other local resources that can assist you 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.