Investing in commercial land can be a lucrative venture in Arizona, thanks to the state’s robust economy and favorable business climate. However, buying commercial land involves more than just finding a piece of property you like and making an offer.
There are several considerations to keep in mind before buying land for commercial use in Arizona.
Understanding zoning regulations
Arizona has strict zoning laws that dictate how you can use a piece of land. Therefore, before buying land for commercial use, find out if the zoning matches the type of business you plan to run.
Zoning regulations can affect everything from the type of business that can operate on the property to the size and placement of buildings.
Evaluating location and accessibility
Location is always a crucial factor when it comes to commercial real estate. Find out how close it is to major transportation routes, the availability of public transportation and the ease of access for potential customers and employees.
Determine if it is in a growing area with the potential for increased customer traffic. Are there other businesses nearby that could complement yours?
Considering infrastructure and utility availability
Does the property have access to necessary utilities such as electricity, water and sewer services? Also, consider whether the land has the necessary infrastructure to support your business, such as roads, parking and internet access. If these amenities are not currently available, factor in the cost and time it will take to install them.
Analyzing environmental factors
Environmental factors that can impact the suitability of land for commercial use include the topography of the land, flood zone status and any environmental regulations that might affect your business operations.
Buying land for commercial use in Arizona involves careful consideration of several key factors. Thorough research and careful planning are the keys to successful commercial land ownership.