How to Conduct the Most Effective Columbus, Ohio Property Search
Managing your Columbus, Ohio property search can seem like a daunting task. After all, there’s a lot to consider. But don’t worry! The Robert Weiler Company has gathered seven helpful tips, sure to assist you in conducting the best property search in Columbus, Ohio as possible.
As a full-service commercial real estate and appraisal firm with 85 years of experience, we’re here to help you achieve your goals. It’s what we do! Read on for our expert tips and tricks of the trade. Also, see why Columbus is a hot spot for commercial real estate investors.
Tip 1: Establish a Budget for Your Columbus, Ohio Property Search
So, where do you begin when conducting a commercial property search? Budget, budget, budget! To establish a budget, set up a meeting with a lender and get pre-approved. This is a crucial first step and will give you the clearest picture of where you can afford to invest. Once this is settled, you can hone in on areas in Columbus offering commercial property in your price range.
Tip 2: Inquire About Infrastructure
Now that you’ve found an area that interests you and offers local properties in your price range, it’s time to learn as much as you can about that area. We recommend starting with the infrastructure because this is what often drives commercial property prices. Find out what infrastructure improvements have been made in recent months and years. And determine whether the government plans any upgrades in the future; this is a telltale sign of an up-and-coming hot spot.
Tip 3: Learn About Locals and Lifestyle
If you like the state of the infrastructure, take the next step in your commercial property search by turning your attention to the area’s lifestyle attractions. Consider your desired demographic of customers or renters and buyers and which amenities they would desire; attractions such as restaurants, malls, community centers, family parks, beaches, etc. are a plus. The more the area offers, the easier it will be to attract people. Once you’ve scoped out the local attractions, spend some time there. Zero in on the type of atmosphere it provides, the people who frequent it, and why it may be a good area to live or work. Want a helpful tip? Scope out the attractions during daytime and nighttime to get a well-rounded picture of your Columbus, Ohio property search.
Tip 4: Tap into Transportation
If you think you’ve found a great area that passes all of the aforementioned criteria, now it’s time to look into transportation. As a general rule of thumb, the more transportation options available, the more potential there is for future growth in the area. After all, you could find the best place; however, people may be hesitant to live, work, or visit there if it’s a pain in the neck to travel to. Do your research and find out if there are easy access to trains, buses, and airports, as well as major roads and freeways.
Tip 5: Quiz Yourself on Quality of Life
Consider the quality of life issues when conducting your commercial property search in Columbus, Ohio. Hop online and check out police crime-mapping websites to get a sense of the overall safety of the neighborhood; check out the performance of local schools; inquire about noise level checks; find out if the location is under a flight path or over a train line. These are all important issues that will surely contribute to the property’s overall quality and desirability.
Tip 6: Don’t Underestimate Mother Nature
Many buyers and renters worry about flood risk in today’s world. Being in a flood-prone area can seriously affect your insurance premiums and property value; it could also cause a great deal of aggravation and stress if you experience the wrath of Mother Nature. Don’t learn the hard way. Look into this vital issue before finishing up your Columbus, Ohio property search.
Tip 7: It’s Closing Time!
If your desired area passes our flying colors criteria, it’s time to find the commercial property you want to invest in. Once you have finalized your Columbus, Ohio property search with a property you’re interested in, there are key areas to inspect; look for damp spots and mold, and check out the woodwork, roofing, ceilings, doors, windows, cupboards, electric, plumbing, and heating. This may seem like a lot, but if you find an issue before you purchase the property, you can try to negotiate the price to cover the repair costs. A major problem may be fairly easy to spot, even to the untrained eye. Once this step is completed, pat yourself on the back—you’ve likely found a perfect commercial property for your investment!
14 Reasons to Invest in Commercial Real Estate in Columbus, Ohio
Columbus, Ohio has emerged as a technologically advanced city; in fact, one of the top three industries here is technology. Columbus is home to the third largest campus in the U.S., Ohio State University (and the school’s well-regarded football team; go Buckeyes!), and other higher learning institutions, such as Columbus State Community College, Columbus College of Art and Design, and Franklin University. Hundreds of international companies call Columbus their home, including Battelle Memorial Institute, the world’s largest private research and development foundation. Below are ten other fun facts about our great city.
- Ohio is said to be one of 10 “Top States for Business,” according to CNBC’s 2021 real estate forecast. Ohio also scored an A+ and #2 position in CNBC’s all-important “Cost of Doing Business” category.
- According to the U.S. Census Bureau, Columbus, Ohio has ranked #1 for population growth among comparable large Midwest metro areas between 2010 and 2020.
- With over 450 internationally-owned companies in the Columbus, Ohio region, we are quite a diverse region.
- Columbus, Ohio is one of the youngest cities in the country. According to CBRE’s annual Tech Talent Scorecard, Columbus ranked #10 for the highest concentration of millennials.
- Columbus, OH has a diverse economic structure and a growing economy. No industry in Columbus accounts for more than 18% of the region’s total employment. Economic diversity provides stability and ensures a region stays less vulnerable during economic declines.
- The Columbus Metro area offers a strong university presence with a talented workforce fueling many industries, from retail and hospitality to fintech, insurtech, and biomedical.
- Columbus ranks as the 2nd smartest city in the U.S. (behind New York), and the 11th smartest city worldwide! This is according to Eden Strategy Institute, who ranks cities worldwide based on smart development and technology usage. What does that mean? Smart people invest here!
- Job growth in Columbus has increased by 2.2%.
- Columbus boasts one of the region’s lowest unemployment rates, at 2.9%.
- Central Ohio had over $5.8 billion of new commercial real estate construction contracts in 2021.
- Some of the largest companies are headquartered in the Columbus Region, such as Amazon, Facebook, Big Lot’s, Nationwide, L Brands, Abercrombie & Fitch Co., DHL Supply Chain, Vertiv Co., Express, Inc., DSW, Bath & Body Works, Wendy’s International, Victoria’s Secret, and Intel (under construction).
- Columbus, Ohio is the nation’s 14th-largest city, in terms of population. (While Ohio is the nation’s 7th most populous state.)
- Columbus, Ohio is the fastest-growing city in the Midwest, with an increase of 15.1% from 2010 to 2020. This decade saw the largest population growth ever in Columbus.
- By 2050, the population of Central Ohio is expected to grow by more than 500,000 — possibly by 1 million (potentially nearing 3 million people)!
Perform a commercial property search on our website to see the commercial properties available in the region.
Why Choose The Robert Weiler Company?
As you can see, The Robert Weiler Company knows a thing – or seven – about how to prepare for and conduct a commercial property search. But it is about much more than simply helping you with your commercial property search. Columbus, Ohio has incredible potential for investors and we want to help you become successful. Our real estate brokers will begin by evaluating your wants and needs in a property, and guide you through the point of closing and beyond. We would love to assist you in finding the perfect property. As a full-service commercial real estate and property appraisal firm with 80 years of experience in the community, we have a competitive knowledge of the market and a value you won’t find at any other CRE firm. Keep us in mind for your next Columbus, Ohio property search; we’re always eager to help. Call us at 614-221-4286 to learn how you can leverage our expertise to make the best investment possible.