Investing In South Florida Commercial Real Estate
What To Look Out For When Investing
There is a commercial real estate boom in South Florida of commercial and residential properties. This commercial real estate forecast for South Florida shows that the commercial real estate market will not slow down anytime soon!
The commercial real estate boom in South Florida is not contained to commercial buildings on the coast, but also commercial buildings on the outskirts of cities. The location has become less important than ever before with commercial developments popping up far inland from busy beachfront locations. This is because commercial rent prices are high along the coasts and people want something a little further away. For example, a medical building can generate income for owner-occupied commercial real estate investors in Boca Raton, even though it may be 40 minutes or more from an ocean-front location! This is great news for those looking to invest.
Location, Location, Location
When investing in commercial real estate the location is key! Make sure that your commercial property has access to major roads and public transportation so that employees can come and go easily and customers can visit easily. If you’re outside of major metropolitan areas such as Miami or Ft Lauderdale then try reaching out to larger companies that may be looking for commercial space rather than individual businesses that need smaller spaces. This will ensure that your commercial space gets rented out quickly and for a commercial real estate investment to be profitable it’s important that your commercial property is always rentable.
Keep Track Of Commercial Rents In Desired Areas
Finally, keep an eye on commercial rent prices. If commercial rent prices start to fall then find ways to improve the space, renovate it and repaint if necessary. Maintain the appearance of the commercial building so that commercial tenants don’t leave because they feel there’s a better opportunity elsewhere.
Be Open To Different Angles
In conclusion, commercial real estate investors need to look at their commercial properties from different angles to make sure that there are no stones left unturned when it comes to increasing the profitability of their commercial investment. With South Florida being such a desirable place for people to live and work it’s likely that this upward trend in commercial real estate prices will continue for the next few years, so commercial real estate investors need to be prepared!
On The Hunt For Commercial Real Estate?
Get guidance from a veteran Commercial Real Estate Attorney, call Leah Mayersohn for immediate help.
