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5 Things to Look for In Your Next Commercial Property

5 Things to Look for In Your Next Commercial Property

  • 10 December 2020
  • camden

Whether you’re starting a new business or looking to grow, the right commercial property is a key component of your success. You want to make sure you have plenty of space and are in a location that suits your business’s needs. Searching for the right property takes time, which can be stressful if you’re trying to stick to a deadline, but knowing what to look for can help you find the perfect commercial space you need to thrive. Here are a few tips for narrowing down your search.

Zoning

Before you start scouting locations, it’s important to know local zoning laws in potential neighborhoods. That’s because they regulate what kind of activities are allowed in certain areas. You don’t want to be stuck with a lease on a building you can’t use. Depending on your business, it also helps you narrow down potential locations as well.

Location

Location is key when it comes to business. Things like accessibility, nearby competitors, parking and neighborhood safety are all important things to consider when looking at properties. Before you consider signing a lease, research the neighborhood to make sure it offers foot traffic for example, if that’s important to your business.

Price

You want to make sure you’re getting a good price on your rent, and you want to stay within your budget. Check with your local Small Business Development Center to help find funding to make sure you can handle your rent.

Use a Property Management Company

Looking for the right property on your own can be a lengthy process. If you’re trying to stick to a timeline for opening your business, working with a property management company helps. They can speed up the process by showing you available listings with your goals in mind. That way you find the right property and stay on schedule.

Go Over the Lease

Commercial leases can come with a lot more specifics than residential leases. Depending on what kind of business you have, you want to make sure there’s no restrictions that can limit or hinder your operations and day-to-day functions. Luckily, leases can be tailored to meet specific needs and functions. While there may be specific clauses about operating hours, on-site equipment and clientele, you can likely negotiate on upgrades and on-site maintenance.

Find Your Next Business Space with Help from Camden

If you’re in the market for a new retail or office space for your business, Camden Management can help. Our relationship-based management style means we work hard to understand your goals and. So contact us today to find out how Camden Management can help.

 

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