How To Find Chester County, PA Commercial Real Estate
While most people instinctively fire up the search engine and start to look for commercial real estate themselves, you will be much better served to speak with a licensed real estate agency that specializes in commercial real estate. Yes, it is true that any licensed agent can technically represent you in your efforts to lease or purchase commercial real estate, but the knowledge and experience that a true Commercial Real Estate Agent brings to the table, will quickly prove its value. The skillset required to navigate the details of purchasing that cute 3-bedroom townhouse in Phoenixville, does not translate into the ability to guide you through the complexities of a 5,000 square foot retail store space lease or the purchasing of a 10 unit apartment building investment asset.
It is relatively simple to find commercial real estate in Chester County. Your search needs to be strategic and have the right approach. Unfortunately, many people searching for commercial real estate only peruse through property listings with the expectation of landing on the right commercial real estate for their business. In this article, we will discuss:
- How to identify the property value
- How to look for sellers who are motivated to sell
- How to search online for commercial real estate in your area
- Why is using the right broker of value to you?
How Can You Identify The Property Value?
Early in your search, you will likely discover that not all commercial properties are equal as they each have unique features. Therefore, it is essential to plan and visit the identified potential commercial property for your business, evaluate its features accurately and realize its value.
As part of your evaluation, you may need to weigh the property’s market value versus the operating income and expenses. It would be wise to keep an eye out for areas of risk, potential repairs, land damage, and much more. After you have identified the commercial property suitable for your business, conducted your due diligence, and have the property appraised. Once you have done these necessary steps, you should be free to make an offer.
Why Look For Sellers Who Are Motivated to Sell?
One aspect that many buyers overlook is that of working with motivated sellers. Sellers whose commercial property price is very low might have various reasons for the low pricing. Their motivation for selling is high.
It may be that they can no longer make the payments on their commercial real estate or that they may be moving and do not want the added burden of being a long-distance owner. Whatever the reason may be, the short of it is that they are ready to sell their property cheaply.
To find the contact information of these motivated sellers, you may consider acquiring a tax delinquent list from the offices of Chester County, PA. You could hire the services of leasing agents who can create personalized lists of commercial property owners who live overseas or a list of absentee commercial property owners.
Why Take Your Search Online?
Why Use The Right Property Broker?
An option to pursue is hiring a commercial real estate broker. Experienced and professional commercial real estate brokers come along with invaluable experience in negotiating for and securing properties. A good broker will run the numbers and navigate through the processing of successfully closing a deal.
Your broker should be able to develop both Proforma and Performa value analyses for you. Do they have access to the Commercial Real Estate Specific marketing platforms that require significant investment on their part? Just as important as what you need to do, is what you do NOT need to do when it comes to commercial real estate. Many of the forms, documentation, and tedious tasks associated with residential real estate are not required in a commercial transaction.
Here in Chester County, PA, Pillar Real Estate Advisors are your trusted commercial real estate agents. We help you identify the right property to buy. Contact us today!