If you are a business owner who is looking for a new retail space, you may be overwhelmed by the number of commercial properties that are available in your area. Still, finding the right location can directly impact the success of your company.
Here are a few amenities that are often desirable for retail spaces.
Some streets have larger amounts of foot and automotive traffic than others. For a business owner with a retail establishment, traffic can be particularly desirable. The more that people pass by an establishment, the more customers are likely to visit the store.
Business owners should consider seeking properties in areas of town that are highly populated or have a large amount of pedestrian and automotive traffic.
Even if the area where a business is located incurs a great deal of traffic, the building still needs to be highly visible. A retail building needs adequate space for proper signage and an entrance that is easily accessible. Thus, a standalone building that is not hidden from view is often desirable for retail businesses.
Consumers want to shop in areas that are considered safe. Before purchasing a new building for their business, retail store owners should review the crime rate of the area. Many available mapping applications denote the types of crimes committed in an area along with the associated date.
In addition, the commercial buyer should ensure that adequate parking is nearby and well lit. Also, the lighting on the building's exterior should be adequate.
Many retail customers window shop before entering a store. Thus, business owners who are purchasing a property as a new location should consider the design of the front of the building. Large picture windows can easily display samples of merchandise and can be staged to entice potential customers to enter the store.
If the building is not configured with large front windows, it can be renovated. However, the buyer should consider the cost of the renovation before making an offer. In some cases, the buyer can request changes to the building as a condition of the offer.
Open Floor Plans
Buildings with numerous small rooms are rarely used for retail sales. Instead, large, open floorplans are preferred. If a building meets the other preferences of the business owner but has numerous walls that will need to be removed, the buyer should consult a contractor before making an offer on the property. The removal of load-bearing walls can be expensive.
To review a list of commercial properties for sale in your area, schedule a consultation with a local real estate professional.