You have decided to become a business owner in Arizona, but, first, you need to find the perfect location. Do you know what makes for great commercial real estate?
If not, Forbes can get you up and running. A few tips can help you save time, money and maybe even your business.
Ask about the property sector
Before you even schedule a showing for a specific property, ask if it matches your business sector. For instance, you do not want to look at properties modified for industrial or restaurant use if you want to open a men’s fashion store. Matching properties with your sector also makes performing due diligence that much easier.
Get a sense of the risks
Of course, you take a risk when you decide to become a business owner. While checking out commercial real estate properties, be sure to ask if about risks, peculiarities, unique features and the like that you need to know about. For instance, different properties come with different real estate taxes and profit and loss margins. There could also special maintenance issues to tend to.
Ask about permits and the title
Before making an offer, double-check to see what permits you need before opening your doors. In regards to the title, determine if the property has any title defects.
Work with a structural engineer
To better prevent an avoidable disaster, have a structural engineer come in and take a look at the property before you set up shop. Building features structural engineers check include plumbing, electrical and HVAC systems, structural integrity and roofing. Another reason to enlist the aid of a structural engineer is to better determine the building’s true value.
This information is only intended to educate and should not be interpreted as legal advice.