Commercial Real Estate Listings – Columbus, Ohio: How to Choose a Location for Your Business
What sets a business apart from others often stems from the location where they searched for commercial real estate listings. Columbus, Ohio is a diverse city with various areas that appeal to many people. As a result, choosing the area that is best suited for your business takes careful consideration. Though choosing may seem easy enough, as there are a lot of great locations to choose from within the Columbus metro area, it takes much research and due diligence to decide on a location that is the most ideal for your business. After all, location is one of the most critical elements that can affect your business’s success. The right location is essential if you expect foot traffic. Below are some points to consider, before beginning to search for the future location of your business.
4 Elements that Should Factor into Determining a Location
Before searching commercial real estate listings in Columbus, Ohio, you must consider four essential yet critical questions.
1.) Demographics of a Location
The first question you should consider is, “What type of clientele does my business seek to attract?” This question should seem obvious, but often, the answers are far too broad. Think about what type of business you have and who your target customers are. It would, undoubtedly, be nice to have an array of people, including different age ranges, incomes, styles, etc., patronizing your business; however, in reality, certain locations appeal to certain demographic groups. Regarding commercial real estate in Columbus, Ohio, there are various areas and districts; depending on what your business offers, you will want to focus on the location that best caters to your preferred demographic.
For example, a law office in the Short North will not perform as well as an office in Downtown Columbus, near the statehouse. A trendy nightclub is better suited in the University District than German Village. An upscale art gallery would fit well in the Short North, but not in the Arena District. Just as an upscale café would also fit in nicely in the Short North or in Downtown, near the capital building. As the old saying goes, “location, location, location” are the three most important aspects of searching for commercial real estate listings. Columbus, Ohio has plenty of locations to choose from. In fact, there are many excellent commercial real estate opportunities available at any given time.
Regarding location, consider convenience not only for your customers but also for your employees. How close do you need your business to be from major intersections or highways; how about public transportation? Additionally, will you need to use certain outside decorations or signage on your property; if so, is it permitted in the area you’re considering? These are just some of the important points you need to consider before researching commercial real estate listings.
2.) Commercial Real Estate Budget
The next question you should consider is, “How much can I afford?” It may seem crass to bring up, but far too often, people shoot for places in which they can’t afford; doing so causes a lot of wasted time when searching for commercial real estate listings. Columbus, Ohio is quite a large city, and there are plenty of areas for you to build your business. In fact, even if it isn’t located in, say, the High Five area, your chosen location will likely still be wonderful and meet your needs. Similarly, it’s important not to presume that expensive areas are always the ideal locations. In many cases, the place you like will not necessarily be the most costly.
3.) Local Competitors and Surrounding Businesses
Consider the question, “Who are my competitors and how much distance do I want from them?” You must know where your competitors are located. You wouldn’t want to move your business across the street from a business that offers the same products or services. Creating distance between your business and your competitors also decreases the supply and increases the demand for your products or services.
4.) Additional Expenses Involved
Finally, you should ask yourself, “Will the commercial real estate in this location involve any extra expenses, as opposed to other locations?” People often forget that when looking at the price of commercial real estate listings, Columbus, Ohio is a major city. As such, many commercial property listings will include added expenses that wouldn’t necessarily be the case in the suburbs. This is not to discourage people from setting up businesses in the city, though. And the added benefit of city life and a city-based clientele typically makes up for the added costs over time. However, for an initial startup, it’s important to know that you’re not just spending money on the property; other financial considerations must be addressed.
One expense that is not always factored into the budget is an inspection. While researching, be sure to factor in the cost of an inspection when looking at the price tags of the commercial real estate listings. Columbus, Ohio has many laws regarding health, fire, and safety regulations. Knowing what to expect is not always easy, especially since the laws can be complicated if you’re not experienced in this area. That’s why it’s extremely important to find a good, quality commercial real estate inspector that you can trust. They can tell you exactly what must be fixed or updated should you purchase the commercial property. Doing so will ensure that you’re getting the best quality building or storefront you can get, while having a realistic understanding of the expenses involved. An inspection report may also give you some leverage when negotiating the property’s price.
Consider Hiring a Commercial Real Estate Agent
Consider contacting a local Columbus, Ohio commercial real estate agent. While it’s possible to find ideal locations without one, it can be highly time-consuming and challenging. A good agent can help you navigate the process of finding commercial real estate listings. Columbus, Ohio has several excellent commercial real estate agents who can access property listings that the general public can’t, provide a realistic idea as to how much you should expect to pay and guide you through the entire process of purchasing a new property for your business. A quality commercial real estate agent is invaluable in getting a good start with your new business location.
If you’re just looking for some advice, consider a free consultation first. Learn more about what commercial real estate consulting firms do.
Ready to Search the Commercial Real Estate Listings Columbus, Ohio Has to Offer?
Being in the market for commercial real estate, Columbus, Ohio certainly has multiple options for you. In a traditional city like this, commercial real estate is especially popular. However, how do you go about actually finding properties? It’s not 2002 anymore when you could have just driven around looking for “For Sale” signs and then strike a reasonable bargain with the owner. Nowadays, buying Columbus real estate is much more complex. However, there are a number of ways to go about finding Columbus, Ohio real estate listings.
Today, 90% of property searches begin online (according to the National Association of Realtors). There’s a good reason: you can look at hundreds or thousands of properties at your leisure without risking the high-pressure sales tactics favored by far too many commercial real estate agents. Of course, you need to ensure that you’re searching in the right locations for the commercial real estate listings Columbus, Ohio has to offer.
When you feel that you’ve determined precisely what you want from your commercial property, contact a commercial real estate agent. The Robert Weiler Company has 85 years of experience navigating the often shaky waters of purchasing commercial real estate. Columbus, Ohio is no different from any other place else in that regard. We can ensure that buying or selling commercial properties for sale is quick, easy, and doesn’t interfere with your business.
We have a no-pressure approach to our clients. Our goal is to not only find properties for our clients that check off every box of their wishlist; we also strive to obtain the highest ROI for our clients. Our commercial brokers utilize some of the best CRE tools available in the country. However, if you’d like to search through our available properties on your own, you can do so directly on our website, through our commercial property search tool. If you see a commercial property for sale that interests you, contact us when you’re ready to learn more about it and take the next step.
Finding the perfect place for you and your business can be difficult, but we can help. We want to ensure you have access to the best information and advice, and we would like to help guide you without pressuring you. Investing in commercial real estate, whether it’s to begin or expand a business, is not something that is taken lightly. You should have the best resources available to make sure you choose the perfect property among the many commercial real estate listings Columbus, Ohio offers. The Robert Weiler Company can help you find it! Call us today to get started: 614-221-4286.
