Whether you’re starting a company or planning to move offices, it’s important that you know what to look for in commercial real estate. The details about a prospective property may mean the difference between reaching your sales goals or going out of business. Here are a handful of questions to ask before you buy a property.

4 Questions When Purchasing Commercial Real Estate

Where is it located?

Location is crucial to the success of any business. As you browse the commercial real estate market, think about sites that will help you draw more foot traffic. For instance, if you’re opening a coffee shop, choosing to locate in a business district or near a college campus would help you reach a large contingent of walk-in coffee consumers. 

What’s the condition of the building?

The last thing you need when buying a property is to discover worrisome problems with the building after the fact. Scheduling prepurchase inspections to determine the condition of the building’s HVAC system, plumbing, roof, foundation, and electrical system will help you determine whether repairs are financially feasible. 

Are there zoning issues?

In certain municipalities, buildings may need zoning clearances for certain kinds of business operations. In some cases, you may need to rezone a property to use it for your desired purpose. Find out if a building is zoned for business or residential use and if any use restrictions would prohibit your business from operating there. 

What is the projected demand?

When you buy property that you intend to lease, seek assurances that demand for the building will remain high throughout your ownership. Only buy commercial real estate in areas projected to grow and develop.

If you’re in the market for commercial real estate, get in touch with APPRO Development, Inc. & CERRON Commercial Properties, LLC. They build, buy, sell, and lease properties throughout Lakeville, MN, serving clients in Scott, Rice, Dakota, Hennepin, Ramsey, and Steele counties. Call (952) 469-2171 to speak with a representative, or visit them online to browse current listings.