Business is moving faster than ever before. If you are not purchasing properties in ideal areas, you could be missing out on important opportunities, such as being closely located to your target market or having a location near an affluent neighborhood. A thoroughly researched market analysis can help you to make a well informed decision.
Are you considering purchasing commercial property as an investment? Buying buildings can be a great way to earn revenue! However, commercial real estate can be a complicated process. Jacob Lavian can offer you a full market analysis to better inform you of your choices.
MARKET ANALYSIS INCLUDES CONSIDERATIONS ON…
- Cost. In most cases, the best locations have the highest prices. You will likely have to decide between saving money versus being in the best location possible.
- Suppliers/Vendors. Having a close proximity to an airport, post office, laboratory or a particular vendor might be important to potential tenants
- Demographics. Where are the most desirable areas for business? A demographics report will show the locations of affluent neighborhoods and the population count in that area. Being close to a profitable market will raise your property’s value.
- Competition. What type of zoning is around your area? Knowing the zoning of each available parcel within your area will give you an idea of your competitive edge.
- Traffic Counts. High traffic counts attract a specific type of developer while lower traffic counts will attract another.
- Compare Rates. What prices are your competitors charging? Are they offering financing? Understanding exactly what your competition is offering can help your negotiation strategies when dealing with potential buyers.