Tips to Give Your Commercial Property a Facelift
The commercial property is a lucrative investment opportunity both for your own business and also for renting purposes.
If you want to increase the amount of profit, you get from your commercial property, then you should definitely go for a facelift of your commercial property.
From making structural changes & cosmetic changes to adding more amenities. There are many ways to carry out the facelift of a commercial property.
Here are the tips that will help you in giving your commercial property a facelift.
Adding square footage to your property Increase the rentable square footage Improve the exterior of your commercial property
This is one of the most common methods used in providing a facelift to a property as it increases the value of a commercial property.
When a commercial property is increasingly sought after by the tenants and they cannot be accommodated within the available space, then adding more space can be economical.
However, it depends on your property's purpose as you can increase its value by adding more office, warehouse, storefront and parking.
Moreover, if you are having a reserved parking space, then it can give your commercial property a competitive advantage over other properties.
A lot of investors in commercial property fail to understand the difference between the total square feet and the rentable square feet.
Moreover, if the commercial property has a poor layout, then the rentable square feet will be significantly less than the actual square feet.
For example, if your commercial property has unfinished areas, excessive lobbies and poorly organized hallway arrangements, then it can reduce the rentable space.
You must always finish any unfinished part of your property and also take steps to reduce the unnecessary accumulation of amenities that can reduce the rentable space.
The external appearance of a commercial property can greatly influence its value and there are several ways to enhance the external look of your commercial property.
You need to make sure that the amenities of your commercial property are extremely clean as it is the cheapest way to increase the value of your property.
Moreover, you need to update the doors & windows of your commercial property as outdated and unfashionable doors and windows will affect the pricing of your property.
Furthermore, painting the exterior of the commercial property is a simple and easy way to facelift your existing property without making any structural changes.
The above-mentioned tips are some of the ways to give your commercial property a facelift and increase its value.
Moreover, you can also invest in professional landscaping to increase the value of your commercial property.
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