Many people want to buy commercial real estate in Vancouver for retail, industrial, or other commercial purposes. Take note that location is among the most significant aspects that determine the selling price of a particular property. A top reason is that capital assets grow when land increases in value, and location determines the demand and supply of land or not. These two factors will then go a long way into determining the price of the land. For instance, a parcel of land that is found near the central business district will sell at a higher price than a comparable piece of land on the outskirts of the city.
The Value of Land
When the value of a piece of property increases, it negatively affects the value of buildings and improvements as they depreciate over time. In such cases, land appreciation must be sufficient to counter the depreciation of the price of buildings. It should also grow the value of the asset in the long term.
Position of the Property
The position of a property refers to its accessibility and if it can suit the type of business that you want to operate. For instance, if a person is running distribution businesses, he or she will need an area with excellent road access. Accessibility is essential, especially if the firm in question does regular dispatches and shipping. Other ideal places that may work for such a company include areas that are close to ports or arterial roads.
Many people like to drive when shopping, and if they are to buy from a business comfortably, they need an assurance of adequate parking space. Customers tend to avoid business premises without ample parking, and this is one of the considerations you should think about as you look for a commercial property for sale in Vancouver.
You want your businesses to cater to all types of consumers, and these include the physically challenged. Your broker will help in identifying the best location with features that can cater to differently abled people.
Proximity to Suppliers
The location of the commercial property should be close to suppliers as well to ensure that you always have your goods in time.
Access to Public Transport
Since it is a commercial property, you may have employees and customers who use public facilities for their transportation. In such instances, you should make sure that the property is close to such facilities. It should not be in areas that often experience heavy traffic as such places will not please your clients.
How to Purchase Commercial Real Estate, Inc.com
8 considerations before buying commercial space, CommercialGuru