What Type Of Commercial Property Is Best To Invest In?
Posted on: 22 April 2021
You may be thinking of investing in commercial property but are unsure which direction you should go in. You might wonder if there is a type of commercial property that is better to invest in than others. While some properties do have certain advantages over others, it will really depend on the type of business you wish to invest in.
What type of commercial property is the best to invest in? It will largely depend on what industry you would like to go into while owning property. Here are some types of commercial property that you may want to consider.
Multifamily Residences
When most people think of housing they think of pure residential properties. However, there are commercial properties that are considered residences as well. They typically include multifamily residences such as duplexes and larger mid-rise or high-rise apartment buildings. While families live here, for the investor it is deemed a commercial property because it is a business venture. The majority of multifamily residence owners do not live on-site. Instead, they have staff take care of the property.
Multifamily residences can make for a good commercial property investment if you prefer to be hands-on and enjoy interacting with your tenants.
Office Buildings
Another option for owning a commercial property is to have an office building. They can be low or high-rise buildings and are located practically anywhere in a city or town. You can choose from a large office building right in the heart of your city that can house multiple businesses or even be rented to a large company for their headquarters. You can also choose a smaller building for local small businesses to operate such as for lawyers or doctors' offices.
These options could be favorable to those investors who wish to own a commercial property where they only have to maintain the grounds and keep the building in good shape, while the tenants take care of their individual units.
Industrial Buildings
Industrial buildings are another type of commercial property you may wish to invest in. The buildings can range in size from very large and capable of handling heavy manufacturing or assembly plants, to smaller light assembly and warehouse properties.
For the most part, commercial property owners of this type only have to maintain the grounds and the overall upkeep of the building, while the tenant takes care of the majority of repairs that may arise.
For more information regarding commercial property, contact a real estate agent.
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