harkins / August 16, 2021
Buying property is one of the soundest investments you can make provided you do the proper research beforehand. When reviewing commercial buildings for sale, you have to consider many factors. One of the most important of these is the overall value of the property. Before you buy commercial real estate, you should make use of a professional property evaluation company.
WHAT A PROFESSIONAL PROPERTY EVALUATION DOES
A professional property evaluation will precisely calculate the value of a property taking several factors into account. Every property is different and offers different features that affect its value. Factors a professional evaluation will consider include:
- The Local Market: supply and demand can greatly affect the value of a property in a given location. A property in a valuable location in a ‘hot’ market will likely have a higher value than one in a less desirable market. Factors such as local market prices and occupancy rates also play a role.
- The Qualities of the Property: naturally, the quality of the property itself plays an important part in assessing its value. Considerations include the condition of the building, its age, its design, overall size, room count, building materials used, and location.
- Deprecation: negative values to keep in mind include any physical wear, repair needs, and obsolete features. There are also external depreciation factors such as a property being located near a noisy road that wasn’t originally there when the property was built.
CONTACT HARKINS COMMERCIAL REAL ESTATE
When buying Sanford and area commercial real estate, you want to know exactly what you’re getting in terms of its value. Additionally, you want to know that your investment makes good financial sense. Harkins Commercial Real Estate can provide you the expert advice you need when purchasing a property to ensure the property you buy is worth the investment. Contact us today and talk to us about your concerns.