Commercial Real Estate In Florida For Sale
Are You Looking At Commercial Real Estate In Florida?
Commercial real estate in Florida is a high-value investment.The Sunshine State has a robust local economy driven by tourism,population growth, and a business-friendly tax climate.
In 2019, Florida ranked fifth in the U.S. for commercial realestate development. The National Association of Industrial andOffice Parks (NAIOP) report noted that commercial real estateinvestments in Florida contributed $20 billion into the localeconomy. It also helped create more than 161,000 jobs. The pandemichas understandably dampened some investors’ appetite for realestate. But the long-termvalue of an investment property is not going to changeany time soon, especially in Florida.
With or without a global health crisis, investing in commercialreal estate is a major financial decision. The first important tipto remember is to work with a reputable commercial real estateagent. A good agent will give you unique access to local marketdata that may not be available publicly. They should offer expertadvice based on their experience in their local market. Thisincludes a margin of safety, breakeven analysis, and future costs,among others. A good agent will also help you negotiate withsellers (or buyers if you are selling). They should help youestablish local networks and facilitate inspections as well asfinancing.
If you are looking at the Central Florida market, CorcoranConnect can help you with all these, and more.
Commercial Real Estate 101: Quick Tips
- Define your parameters. How much are youwilling to spend? And how much do you expect to make on thistransaction? How much space do you need? And how many rent-payingtenants do you need to recoup your investment?
- Assess your location. A good way to evaluateyour market is to chat with homeowners in the area. You can alsocheck out residential properties for sale to give you an idea ofthe demand. A good agent with strong market connections can pointyou in the direction of promising investment leads.
- Be familiar with key terms. You will need tohave a basic understanding of terms like capitalization rate, netoperating income (NOI), usable square footage, and common areamaintenance fees, to name a few. You also have to understand thedifferent types of commercial real estate. Properties can includeoffice buildings, retail stores, restaurants, or warehouses. Eachtype of property is governed by different zoning laws. You mustmake sure this is aligned with your overall strategy.
If you are completely new to real estate investing, there may bea learning curve as you familiarize yourself with the technicalterms. But your agent should be able to guide you through this asyou go along. As in any type of investment, it is crucial to go inwith a plan. The bigger the investment, the bigger the risk. So, ifyou are in doubt about something, consult with a professional.
A Central Florida Real Estate Company That Can Help YouMaximize Your ROI
Ready to look at commercial real estate listings? We can helpyou. As locals, we offer a unique perspective of the real estatemarket. We have also established deeply rooted connections thatallow us to provide our clients with access to insider information.As agents, we are renowned for our honest, timely, and adaptableservice. We want to help you achieve your goals, and we are here toguide you every step of the way. Give us a call now.