5 Commercial Improvements that Increase Resale Value

5 Commercial Improvements that Increase Resale Value
  • Opening Intro -

    A straightforward way to add value to your commercial property is to make small improvements that make the property more attractive to potential buyers.

    Commercial property refers to property that is used for business activities, or lands that it is intended to generate profits, as well as large rental properties.

-------------------------------------

There are six categories of commercial real estate, which include office buildings, retail and restaurants, multifamily, land, and miscellaneous, such as hotels or self-storage developments.

Commercial real estate property owners do not need to have a perfect property to increase the potential profitability of the property, but they need to have an understanding of there target market.

Such as is expanding the property the best way to add value to a property downtown, what conditions are vital to attracting small businesses or start-ups, or in which markets is the demand high and inventory low? 

Be sure the modifications and improvements you will be making to your property are designed to create the highest potential for resale.

Doing improvements and small renovations in a cost-effective way can boost the value of your property and give you a more significant return. 

If you are contemplating how to enhance the resale value on your commercial property, follow these five steps:

  • 1. Improve lighting

    Having better lighting installed is a cost-effective way to improve the appearance of your space. If upgrading the light in your building, consider the use of energy-efficient lightbulbs, such as LEDs, that use 25 to 30 percent less energy and last a lot longer. Replacing with LEDs increases your cash flow and the properties’ overall value in the long run.

  • 2. Install New Floors

    If your property currently has carpets, you might want to consider upgrading the flooring in your commercial property. Wooden floors have the most significant appeal and match with contemporary and traditional interiors, if looking to minimize costs, install linoleum, which can be purchased to look like wood.

laminate flooring planksinterlocking floor tiles

  • 3. Update Appliances

    If their appliance in your commercial property, you might want to consider updating them. Black and white appliances are out of date, and stainless steel is now the most popular finish on devices. An upgrade on the appliances can give the property a new feel, and it a good investment for increasing the resale value on the property.

  • 4. Replace Doors

    Replacing doors on your commercial property to sturdier, more visually appealing doors can add a unique appearance to the space. New entries are useful in a multi-duplex apartment building and an upscale office building. It’s a relatively cost-effective way to increase resale value to your property.

  • 5. Improving the Exterior

    It’s essential to spend some money and time on the exterior of your commercial property too. Landscaping, fresh paint, and property paving increase the resale value on your building. Resurfacing the drive or parking lot makes a big visual difference to potential buyers. Remove weeks, rough patches, and have lines painted.

post lanternspathway lights

Wrapping it Up

In general, you want to make sure you are presenting a clean state to prospective buyers when you are considering putting your commercial property on the market. A blank canvas gives a potential buyer the ability to envision their business occupying the space.

other valuable tips:

Before you begin any property improvements, it’s essential to look at tax implications for your commercial property. You are investing in technologies that decrease expenses and environmental impacts. There may even be tax incentives in investing in eco-friendly technologies.

However, you want to make sure you avoid common pitfalls when increasing the value of your commercial property, because there are still things that can come up or fall apart during improvements such as underestimating costs, and not managing your expectations during the process.

As long as you have done your research and are going into commercial developments with a realistic view, these tops can help when it comes to increasing resale value.

Find Landscaping Services
Landscape Design Sprinkler Systems
Metal Work Water Features
top-rated, pre-screened local contractors
pdf file FREE: download contractor selection
enter zip code – powered by HomeAdvisor ™

 

Image credit: increase resale value by Pixabay

end of post … please share it!

-------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------

directory photos forms guide

Helpful article? Leave us a quick comment below.
And please share this article within your social networks.

facebook linkedin pinterest

Amazon Affiliate Disclosure: LetsRenovate.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. The commission earnings are used to defray our cost of operation.

View our FTC Disclosure for other affiliate information.

Categories: Home Improvements

About Author

LetsRenovate Admin

From the administrative staff at LetsRenovate.com. We hope you enjoy this article and the elements of the site. Please forward any suggestions or comments regarding the posting or other suggestions for improvement. We also operate other helpful guides in education, money, travel, and business. Visit our main site for address information. Thank you. Please share this site with friends and family.

Write a Comment

<