5 ways to increase commercial property value
How can you make your commercial property worth more? The answer is by making it more attractive to potential buyers. Here are five ways to increase your commercial property value.
The rent
The rent is one of the most important factors that buyers consider. Rent is something that should always have room for growth. If you cannot increase your current rent, then try adding more services to attract potential tenants with a higher spending capacity.
New spaces
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Suppose your property doesn’t have any boardrooms or new spaces for lease. In that case, it may not be attractive enough for many investors who are looking for a good investment opportunity in commercial properties. So if you want to make your property worth more money, create areas where companies can set up their offices and meet clients over lunch breaks. It will also raise the value of nearby buildings!
Outdoor relaxation area
The outdoor relaxation area of your commercial property is an important selling point. People want somewhere to relax outside, get away from it all and take some time out with their co-workers. Investing in a garden or patio space will make your commercial property more attractive to a buying client. If you have some room around your office building, why not consider creating a little café style seating area? This would be perfect for employees who need a quick lunch break between meetings.
High-tech modern facilities
If creating boardrooms doesn’t work well with your current tenants, then you could always consider upgrading the look of the building itself by adding a few high-tech facilities. People love modern looks because most businesses with modern regards also provide green energy solutions, which makes them more attractive than other companies that don’t do this. Modern facilities have been shown to significantly increase the value of your commercial property.
The exterior
Investors will always consider the exterior of a building when deciding whether to invest in commercial properties. If your current property’s look isn’t up-to-date, change it by adding new signage and landscaping. It may also be helpful if you hire an interior decorator that can help give off a professional feel at first glance instead of asking clients what they think about how their office looks.
Another thing to ensure is adequate parking for employees and customers. If there isn’t enough space in the lot, consider installing lighting, so people feel safe walking side streets to get to their car after dark. Make sure there’s ample room between vehicles as well; nobody wants to be crammed in like sardines into a tiny spot with no way out!
You could also consider using a custom carport builder if your commercial property does not have carports for customers and employees. This will add tremendous value to the commercial property as employees and customers will know that their car is protected from unrelenting weather conditions during a meeting or workday.
If you want to increase your commercial property value, it may be time to consider a renovation project. However, there is no one-size-fits-all renovation plan for increasing commercial property values, so know what goals you have and work towards them with the proper experts on board!
