Location Is a Key for the Commercial Real Estate Investor ...

If you are a commercial real estate investor, location is a major factor in identifying the correct property to purchase. A solid location attracts high volume tenants which brings the shoppers you want to your site. This increased traffic gives you the ability as the owner of the property to charge higher rents and thus create a higher value for your property. The rent a tenant can pay is a factor of the amount or volume of business that they can do at a particular location. The more volume of business they do, the more rent they can afford and pay.

The things you look for in a good location are:

Easy Ingress and Egress

It needs to be easy to get into and out of the property via several entryways and exits.

Parking

There needs to be plenty of parking spaces as well as the spaces should be convenient for the customers. A parking ratio of 4 to 5 spaces per 1,000 square feet of leasable area is a good ratio. Having spaces right at the storefronts is always a plus.

Proximity to Major Streets and Freeways

The site should be close to major streets and freeways to make the property easy to find for customers so that they can shop on their way home from work or outings. The property should be on or close to a busy street with a high traffic volume. High traffic volume is very important to tenants. Check the ADT (average daily traffic) or the CPD (cars per day) information.

Near Other Properties with Anchor Tenants

Tenants located near to an anchor tenant benefit from their traffic. Anchor tenants are major retailers such as Major Discount Stores, Electronic Stores, Home Improvement Stores, Grocery Stores and Drug Stores.

Signalized Intersection

Being at a signalized intersection is extremely important. When cars have to slow down or stop at a traffic light, they have the time to see the stores in the shopping center.

Area

Review the demographics of an area to make sure there is population growth and it is not in an area of declining growth. You want your property to be in the path of growth. Demographics can also tell you things such as racial makeup, number of households, household incomes and the daytime population of the area.

Appearance

Properties that are properly maintained with good landscaping, clean parking areas and storefronts, proper lighting so that the customer feels secure and buildings that are maintained in good condition always attract the most customers for your tenants.

Signage

A professional signage program that is followed always enhances a property and a large monument sign in the front of the center makes it easier for customers to know who is located in the property.

Source: http://www.giteweb.org/181-location-is-a-key-for-the-commercial-real-estate-investor.html

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