Commercial property is purchased by a company to run its business operations. Buying a South Florida commercial property for sale leads to several crucial benefits. However, to make sure that you make the most of it, choose a top-rated real estate brokerage and advisory firm in your area. Rise Realty is one such company that provides services in a range of areas like owner representation, investment sales, and project services for office, tenant representation, industrial and retail properties, etc. Check this blog to know the benefits of buying commercial properties in South Florida.
Higher Income Potential
A commercial property's most significant benefit over a residential property purchase is the higher income potential.
The annual return of the purchase price in the case of commercial property falls between 6% and 12%. This rate depends on the current economy, the property's area, and other external factors.
On the other hand, this rate becomes 1-4% in the case of a single-family home property.
Professional Relationships
Commercial properties are usually owned by LLCs, who treat the property as a business. So, when you buy your commercial real estate from them, you will have a B2B customer relationship. It will help you maintain a professional relationship.
Owners Taking Proper Maintenance of the Property
Retail tenants always keep their store and storefront areas clean and attractive to create a positive impression on the potential customers. It, in turn, makes commercial property owners take proper maintenance of the property and improve its quality.
More Objective Price Evaluations
Another benefit of purchasing a South Florida commercial property for sale is that you will find it easier to calculate the total price of the commercial property.
Here, you can request the income statement of the current owner. Based on that, you can calculate the price. Also, if the seller hires a professional agent, they will set the asking price so that you can earn the area's cap rate for the type of property you are purchasing.
Triple Net Leases
The basic concept of a triple net lease is that you will not need to pay property expenses even when you are the property owner. All property expenses will be handled directly. The only thing you will need to pay is your mortgage.
In contrast, a residential property purchase involves handling several costs.
More Flexibility in Lease Terms
While a large number of state laws govern residential real estate purchases, there are only a few protection laws that cover commercial leases. So, you will have more flexibility in your lease terms.
How Can Rise Realty Help You?
- Commercial real estate agents of Rise Realty are qualified and experienced in the market, financial, and investment analysis. They also help in creative deal structuring.
- When you choose this firm, you can access a vast network of real estate developers, brokers, landlords, bankers, REITs, international investors, private equity investors, etc.
- They implement key marketing strategies to enhance your investment returns and asset position.
So, whenever you decide to buy a South Florida commercial property for sale, make sure you explore Rise Realty's options. For further knowledge, you can contact them at any time.
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