There are two types of real estate: commercial and residential. Commercial real estate generally refers to anything that can be used for business purposes, while residential real estate generally refers to housing. Here is a more in-depth look at the two.
Residential Real Estate
Residential real estate is simple, usually building and selling residential homes. Most people invest in residential real estate, but it’s not smart to do so right now because of rising home values.
Homes right now cost more than $400,000, making it challenging to invest in a home.
Commercial Real Estate
Commercial real estate includes office buildings, retail space, warehouses, industrial buildings, and other properties that people can use for business purposes. These properties are usually larger than residential properties and are located in areas zoned for commercial use.
- Office Buildings: Office buildings are the most common type of commercial real estate. They can be single-story or multi-story and are often leased by businesses.
- Retail Space: Retail space is another common type of commercial real estate. These properties are typically leased by businesses that sell goods or services to consumers.
- Warehouses: Warehouses are commercial properties that are used to store goods or materials. They can be single-story or multi-story and are often located in industrial areas.
- Industrial Buildings: Industrial buildings are commercial properties used for manufacturing or production. These properties are usually single-story and often located in industrial areas.
Commercial real estate is an excellent investment because it can be leased to businesses, creating a steady income stream. In addition, commercial real estate is rising, with the industry’s net worth reaching around $16 trillion. So your investment will likely go up in value over time. As a result, commercial property is an excellent option if you’re looking to invest in real estate. You can even earn more if you add some new things to your property. Here are four ways to add value to your commercial property:
Add Square Footage
If there is one thing that businesses need, it is space. They need room to grow, room to house their employees, and room for their customers. By adding square footage to your commercial property, you are increasing its value. Not only will businesses be able to lease more space from you, but the property’s value will go up.
Add Security
Security is a serious concern in the country. More and more businesses are afraid of property crimes and are now looking for increased security in the properties they rent. Here are some essential things you need to add to your security layer.
Robust Door
The door you use can determine how well your property is secured. For example, if you have a flimsy door, it can be easily broken through. A robust door, on the other hand, will make it more difficult for criminals to enter your property. To make your door more resilient and hard to break, you should install a surface-mounted door closer. It is a device that pulls the door shut once it is opened. It will make it harder for criminals to pry open your door.
Security Cameras
Cameras are another way to deter crime. By having cameras installed on your property, you are sending a message that you take security seriously. In addition, it will make businesses feel more secure about leasing space from you.
Security Guard
You can hire a security guard if you want to step up your security game. Knowing someone is always watching over their property will give businesses peace of mind.
Add Amenities
Amenities are another great way to add value to your commercial property. Amenities are features that make a property more attractive and desirable. They can include anything from a fitness center to a coffee shop. By adding amenities to your property, you are making it more appealing to businesses.
Fitness Center
A fitness center is a great amenity to add to your commercial property. It will appeal to businesses with employees who want to stay in shape.
Coffee Shop
A coffee shop is another amenity that businesses will love. It will provide a place for employees to take breaks and grab a cup of coffee.
Childcare Center
A childcare center is a perfect amenity for businesses with young children employees. It will allow parents to drop their children off at the center while they work.
Add a Rooftop Deck
A rooftop deck is a great way to add value to your commercial property. It’s a perfect spot for businesses to host events or parties. It is also an excellent place for employees to take breaks and enjoy the views.
Adding a rooftop deck will make your commercial property more attractive to businesses. It’s an excellent way to add value to your investment.
There are many ways to add value to your commercial property. Following these tips can make your property more valuable and appealing to businesses. In addition, it will lead to more money in your pocket and a higher return on your investment.
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