Commercial real estate is a great addition to any investment portfolio. When it comes to valuing commercial real estate there are many things you can do that improve the value of your property.
We break down 3 of the key ones below.
Valuing Commercial Real Estate: Make it Environmentally Friendly
Environmentally friendly and energy efficient properties are attractive to commercial real estate buyers. Buildings that have high energy efficiency and efficient water usage are attractive features that can improve the value of your commercial property with the added benefit of reducing the impact they have on the environment. Some examples of building upgrades would include solar panels and upgrades of existing lighting to more energy-efficient LED options. This can increase the value of the property to potential buyers.
Simple upgrades like improved windows and doors can reduce air loss in and out of the building, and reduce the need for additional heating and cooling.
Upgrade the Exterior of the Building
Curb appeal matters when valuing commercial real estate. Refreshing the exterior of your building with a new coat of paint, rebuilding or improving walkways, or adding some additional greenery to the property can all add to the overall value of the property.
As an additional bonus to being eco-friendly, new doors and windows can also help improve the aesthetics, and thus, the value of your property as well.
Improve the Amenities of the Building
Parking will always be important to commercial property buyers. Adding additional parking spaces or resurfacing the parking lot can make a big difference.
Security measures can also increase the value of your commercial property. Security cameras, alarms, gates and, in some cases, hiring security guards, are all good investments.
By following our tips above, your commercial property will become incredibly valuable, even more so than it already is, in no time!