Investing in real estate is always a great idea. When looking for a suitable property for sale, there are a number of factors to consider. This is because not all properties are great investments. You may want to employ the services of a competent real estate agent to help you find properties that meet your needs. When searching for commercial property for sale New Jersey residents should always take their time to analyze all the underlying factors to ensure they can make an informed decision. This is important because purchasing a commercial property is incredibly costly. Below are some of the things you should consider;
i) Location
When looking for a great real estate property, the most important factor of consideration is location. The location of a property can determine whether or not it is a great investment. Therefore, you need to look for a property that is located strategically within the CBD or suburbs in New Jersey.
ii) Cost
Commercial properties normally come at different prices. Some properties are expensive while others are offered at discounted prices for one reason or another. Since you cannot buy a property that you cannot afford, be sure to eliminate properties that are above your budget from the shortlist. This will help you to narrow down the search.
iii) Total Floor Area
The value of a property and the revenue it can generate depend largely on the total floor area in the property. If you want a commercial property with a million square feet of commercial space, that is what you should look for. When comparing property prices, be sure to keep the total floor area and location of the property in mind as this will ensure you make the right decision.
iv) Design
The design of the property is also a key factor of consideration. You want a commercial property that has been designed to make efficient use of every single square inch of space. The design should also make the property look attractive to potential renters and consumers. Be sure to also take note of the parking space and number of storeys available in the building.
v) Structural Integrity
You do not want to buy a commercial property that is about to be condemned for destruction by local authorities. For this reason, you may want to take your time to hire a reputable property inspector to ascertain the structural integrity of the building.
vi) Rental Income
The amount of rent a property can generate is a key factor to consider when looking for a commercial property for sale in New Jersey.
