Finding a good commercial real estate for sale can seem like locating a needle in a haystack at times, especially in post-pandemic days, when the need for office space is lower than ever. But there’s still plenty of upside in the commercial real estate investing game, not to mention ample opportunities to score a deal and make a profit, as we’ve seen in the most recent weeks where trophy assets have traded between 40%-60% discount .
Not looking for an investment, but rather to be an owner occupier where you can run business and benefit from owning the property and building equity while doing so? You, too, can successfully find a commercial property if you know how to approach the search and what to look for.
In either case, as a business owner or investor, it helps to have an expert by your side during your search to figure out everything from how to find commercial real estate values to how to find the right property.
We can help! Here are three tips to help you with your commercial real estate search as a first-timer.
1. Leverage Both Online & Offline Opportunities
As tricky as locating the right property can be, the digitalization of the commercial real estate industry via various online search platforms certainly makes finding property locally, nationally, or even internationally much easier.
So do leverage platforms such as:
- LoopNet
- Crexi
- Realtor.com
- CommercialSearch
- Brevitas
But don’t forget to network in-person, too. Attending real estate events or networking within local business groups can uncover opportunities that you might not find online.
And remember also, that a good real estate brokerage firm will also usually have their own listings on their website– some of which may be private! and have access to their own book of clients, which could be very useful for what you’re looking for.
2. Find a Reputable Broker or Advisor
Would you train for the Olympics alone? Would you try to work through trauma without a therapist? Would you try to play a team sport without a coach? Probably not.
Having a trained professional in your corner when attempting to find commercial property is no different.
A reputable broker or advisor can significantly simplify the search process, keeping you apprised of key market trends and property values.
Advisors, specifically, can walk you through financial evaluations, make you aware of investment risks, and even help with negotiations, streamlining not just the process of finding the right property but also all the other things that go into purchasing or leasing it.
3. Consider Which of These 4 Main Investment Strategies Is Best for You
There are 4 main investment strategies that most real estate investors use to mitigate risk and maximize profit:
- Core: This low-risk strategy helps you generate steady income (and relatively low returns) by investing in high-quality, ideally-located low-maintenance properties.
- Core Plus: This slightly riskier strategy involves purchasing stable buildings that may require minor improvements. The upsides? Potential to make renovations that lead to higher profits.
- Value-Add: This strategy is one of moderate risk and reward, focusing on properties requiring significant renovations or even, in some cases, repositioning.
- Opportunistic: This is the highest-risk strategy with the highest potential returns, involving properties that need major work or new development.
Contact Us to Learn More
Ready to find the perfect property for you? Whether looking for office space or industrial space; mixed use or multifamily, Class A, B, or C buildings, we can help! Get in touch now.
As your commercial real estate experts in greater New York, New Jersey and Philadelphia, we can’t wait to share our expertise with you and make commercial leasing or buying easier.