15 Tips to Buy Commercial Buildings for Sale in Columbus, Ohio
Are you looking to buy commercial buildings for sale in Columbus, Ohio? If you’re considering investing in Downtown Columbus, you have made a great decision! Are you familiar with the Columbus, Ohio real estate market conditions? What about the financial viability of the types of property in which you are looking to invest? Buying commercial property for sale can have an incredible outcome; however, it can also come with its fair share of challenges. Below are fifteen areas of focus and questions to consider.
Where Do You Begin?
To buy commercial buildings for sale in Columbus, Ohio requires expertise and a thorough understanding of your investment. So, how do you know which are the right questions to ask? Before making your decision, consider the following as a quick guide.
- Analyze the rewards… and the risks.
- Talk to experts about your options; this includes your accountant, your lawyer, your commercial real estate broker, and your mortgage broker. Ensure that you cover all of your bases regarding the commercial property you are looking to buy.
- Consider all aspects of the commercial building for sale, and make a list; location, property condition, accessibility, and zoning restrictions are just a few examples of considerations in this area.
- Think about financial matters. Remember, it is not just about the down payment in which you make on the property; it is also about the mortgage and your income to cover any monthly payments. Also, remember that there will be additional fees for utilities and other developmental factors after your purchase. Once you find commercial buildings you are considering, you may want to get an appraisal. A commercial brokerage can provide you with a commercial building appraisal cost; while the fees vary, it’s helpful to understand the ballpark fees.
Considerations When You Search Commercial Buildings for Sale
Once you have gone through your checklist, it’s time to search for commercial properties. Columbus, Ohio has a lot of properties on the market at any given time. It takes serious time and thought to find the right property when looking to buy commercial properties for sale in Columbus, Ohio. Leverage the expertise of your mortgage broker, real estate broker, and of course, your real estate lawyer and accountant. But also perform your own research, and consider your wants and needs.
What questions to ask when buying a commercial building?
- Why is this commercial building being sold?
- What is the physical condition of the commercial building for sale?
- How is the physical condition of the land and parking lot?
- Who are the current tenants of this commercial building?
- What limitations does the exterior of the property have?
- Is there a demand for commercial real estate in the area?
- Is there an opportunity in the area for expansion?
- What opportunity is there for leasing and making a viable profit, and additional investment?
- Do the commercial building and surrounding property provide accessibility?
- What type of zoning ordinances or restrictions does the location have?
- Will buying this commercial building for sale achieve your investment objectives?
Leverage the Expertise of a Local Commercial Real Estate Firm
Owning commercial property can be a wise investment; however, there are many elements to consider before you make a purchase. Understanding that there are considerations when purchasing commercial buildings for sale is one thing; putting a great deal of thought into your investment, performing extensive research, asking questions, and being prepared is another. A local commercial real estate firm has advantages that out-of-town firms and those looking to invest in commercial buildings typically lack.
Ready to Buy Commercial Buildings for Sale in Columbus, Ohio or Throughout Central Ohio?
In Columbus. Ohio, knowing the local commercial real estate market is the first step. Located in the heart of Columbus since 1938, the talented professionals at The Robert Weiler Company have contributed to the incredible development of Columbus, Ohio. And we want to help you be a part of that growth! Before you go out on your own to search for and buy commercial buildings for sale in Columbus, Ohio, speak with one of our commercial brokers. We can also provide you with a commercial building appraisal. Call 614-221-4286 for a free consultation, today.