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If you’ve got substantial savings you want to invest, commercial real estate is an ideal option. Buying a quality property to rent or lease is a smart move because it will provide a high rent-to-value ratio and generate steady cash flow.

Galvin Realty Group, a leading property management company based in Rochester, NY, has been providing reliable real estate advice and asset management since 1987. They share these elements of a good commercial real estate investment:

  • Low Property Taxes & Other Costs: If you want to make money from rent, you need to know how much you will pay in taxes. You also must consider additional costs like utilities, repairs, and maintenance. Be sure to check the rates for property insurance, too.

  • Rochester-NY-commercial-real-estateDesirable Neighborhood: The location of your commercial real estate property will determine the tenants it attracts and the revenue it produces. For example, if the property is near a school, your tenants are likely to be families with children. If it’s in a college town, you will draw students and possibly have vacancies during school holidays and breaks. Check the crime rate and neighborhood job market, as they will significantly influence prospective tenants.

  • Few Local Listings & Vacancies: If the commercial real estate buildings around your property offer a lot of listings, it’s usually not a good sign. Research the area’s vacancy rates to determine whether the area has a good rental market.

Commercial real estate is a great investment if you choose your property well, and Galvin Realty Group can help you get started. As property management experts, they go above and beyond to help you accomplish your goals. Call (585) 546-1290 or contact them online for more information about real estate investing, and visit their website to learn about their other services.

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