The property market has experienced some major ups and downs over the past decade. For a while people thought that price would just keep going up and they would be able to cash in on their equity. However, the big market crash in the summer of 2007 has changed everything. Prices have dropped dramatically and buyers are now few and far between.
The state of the south west have been particularly hard hit by the recession. Nevada was really a big part of the property boom with a lot of new construction going on. Since the crash Henderson commercial real estate has become much harder to sell and prices have fallen steeply. Yet this does provide many excellent opportunities for those who want to invest and have the capital to do it.
Many potential investors are looking at property that sold for two or even three times the current asking price. Anyone who has ever wanted to invest in a commercial building should start to look around at what is on offer. Meeting with a good agent to go over the listings is the first step in the process. The agent will show each client a number of buildings to see which meets their needs the best.
Before making any purchase the investors should understand how the commercial market works. It is not the same as the typical housing market and relies upon totally different factors. Many people make the mistake of trying to take their knowledge of the residential market with them. They must understand that things are different and know clearly which factors to take into consideration when making a purchase.
Parking is one of the most crucial factors in the success of any commercial building. Every office space needs good parking. If the building is intended for high turnover offices such as doctors or retail then there must be enough parking spaces for each unit. Many people get upset if they cannot get a good space and have to walk more than a minuet or two in order to access the building.
Location is also crucial. A good down town location in the heart of the retail district is always a good buy. These units command the highest rents and are usually occupied at all times. An out of town location may be good for more industrial buildings that are not so dependent on constant foot traffic. For example a gym or sports complex can be a little out of town and still do really well.
Professional complexes are often listed for sale. Buyers need to understand what is a good buy and what is not. If the building has slowly been loosing its occupants over the past few years it is good to find out why. It may still be a good buy, but not if there are fundamental issues such as structural problems with the building or poor location.
Commercial buildings vary in size significantly. Buyers should have a clear idea about the possible uses for the units before making a purchase. They must also know how much rent they will have to charge to break even or hopefully make a profit. They should then research how much rents are in neighboring units to ensure that they are not over priced.
The state of the south west have been particularly hard hit by the recession. Nevada was really a big part of the property boom with a lot of new construction going on. Since the crash Henderson commercial real estate has become much harder to sell and prices have fallen steeply. Yet this does provide many excellent opportunities for those who want to invest and have the capital to do it.
Many potential investors are looking at property that sold for two or even three times the current asking price. Anyone who has ever wanted to invest in a commercial building should start to look around at what is on offer. Meeting with a good agent to go over the listings is the first step in the process. The agent will show each client a number of buildings to see which meets their needs the best.
Before making any purchase the investors should understand how the commercial market works. It is not the same as the typical housing market and relies upon totally different factors. Many people make the mistake of trying to take their knowledge of the residential market with them. They must understand that things are different and know clearly which factors to take into consideration when making a purchase.
Parking is one of the most crucial factors in the success of any commercial building. Every office space needs good parking. If the building is intended for high turnover offices such as doctors or retail then there must be enough parking spaces for each unit. Many people get upset if they cannot get a good space and have to walk more than a minuet or two in order to access the building.
Location is also crucial. A good down town location in the heart of the retail district is always a good buy. These units command the highest rents and are usually occupied at all times. An out of town location may be good for more industrial buildings that are not so dependent on constant foot traffic. For example a gym or sports complex can be a little out of town and still do really well.
Professional complexes are often listed for sale. Buyers need to understand what is a good buy and what is not. If the building has slowly been loosing its occupants over the past few years it is good to find out why. It may still be a good buy, but not if there are fundamental issues such as structural problems with the building or poor location.
Commercial buildings vary in size significantly. Buyers should have a clear idea about the possible uses for the units before making a purchase. They must also know how much rent they will have to charge to break even or hopefully make a profit. They should then research how much rents are in neighboring units to ensure that they are not over priced.
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You can visit desimonecommercial.com for more helpful information about Henderson Commercial Real Estate Listings.
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