Buying a commercial property for your business in the retail industry is a big decision. Before committing to a location, do your due diligence: schedule a commercial property inspection with Americas Choice Commercial Building Inspections, LLC. Our retail building inspectors will give you a clear picture of the building’s current condition and any costly repair needs. Additionally, keep the following five tips in mind as you hunt for a property.

Commercial Property Inspection

1. Assemble a Team

Investing in commercial real estate requires expertise and professional advice. Assemble a team to guide you through the process of selecting a property, negotiating a fair price, and attaining the necessary finances. Specifically, you’ll need a commercial real estate broker, accountant, attorney, and a commercial mortgage broker.

2. Select a Location

To narrow down your search, conduct some market research. You need to feel confident that the local income base and buying patterns support your business model. Furthermore, scout the area for local competition and select a neighborhood where your business fills an unmet need. 

3. Select a Property

Next, you need to find an appropriately sized property that meets your needs. Also, make sure there is room for growth and that zoning restrictions won’t hold you back down the road. Furthermore, assess the property’s assets wisely: is there adequate parking, good visibility, and convenient access?

4. Do Your Homework

After you’ve found the right property, rely on your team of experts to ensure that it is a sound investment. Then, schedule a retail building inspection with Americas Choice to learn about the condition of the building, its components, and the property. Additionally, we offer Phase 1 ESAs, radon testing, lead paint testing, mold testing, and a variety of other specialty inspections to give you the extra peace of mind you need to purchase the property with confidence.

5. Finance the Property

Typically, commercial loans require a minimum of 20 percent down. Furthermore, you will need to work with your accountant to find a financing structure that works to your advantage. Many loans balloon in 10 years or less, so you will need to prove you will have adequate cash flow to meet the terms of the agreement.

Request an Inspection

Before purchasing a commercial property in Charlotte, Asheville, Raleigh, or the surrounding NC areas, request a retail building inspection from Americas Choice. In addition to retail properties, we also inspect industrial buildings, restaurants, hotels, offices, apartments, and more. For more information, contact us today at (704) 624-8444.

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