Tips for Purchasing Commercial Buildings for Sale in Columbus, Ohio Friday, April 22, 2016
Are you considering buying one of the many commercial buildings for sale in Columbus, Ohio? If you’re looking to invest in Downtown Columbus, you have made a great decision! However, 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 some areas of focus and questions to consider.
Where Do You Begin?
Purchasing Columbus, Ohio commercial buildings for sale 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.
- Consider all aspects of the commercial property you are looking to buy, and make a list: Location, property condition, accessibility, and zoning restrictions are just a few examples of considerations in this area.
- Think about the 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.
Considerations When You Search Commercial Buildings for Sale in Columbus, Ohio
Once you have gone through your checklist, it’s time to search for commercial properties. It takes serious time and thought to find the right commercial buildings 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 is the physical condition of the commercial building?
- How is the physical condition of the land and parking lot?
- What limitations does the exterior of the property have?
- Is there 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 restrictions does the location have?
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, but putting a great deal of thought into your investment, performing extensive research, asking questions, and being prepared is another.
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 commercial buildings for sale in Columbus, Ohio, speak with one of our commercial brokers. Call 614-221-4286 for a free consultation today.