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Commercial Real Estate Lacey

Where do I start with commercial real estate?

If you’re looking to buy your first piece of commercial real estate, it can be an overwhelming process. Buying homes can be complicated; buying commercial property can be significantly more so.

There are zoning laws to look into, special building codes to keep track of, and maybe even a different kind of electrical system to power industrial equipment to worry about. So where do you start?

It might be a good idea to check with a professional commercial property development company to take care of the legwork for you, especially if this is your first time looking into commercial real estate.

Even if you decide to get help, there are a few things that you can look into first: Are you going to buy or rent?


 

To buy or rent?

The first and perhaps the biggest decision that you’ll make is whether you want to rent a place that fits your needs, or buy one.

There is also the option of buying land and building a custom warehouse from the ground up, though this is often the most costly method up front.
 


Advantages of renting

Renting is a great way to put your commercial property to use right away.

  • You don’t need nearly as much money saved up if you decide to rent. This can make a substantial difference and the amount of capital you have could make buying a place unviable.
  • There are several warehouses for rent throughout the Lacey area you can search through to find one that suits your needs.
  • Depending on your lease agreement, you may not have to worry about repairs and upkeep. These sudden expenses may be taken care of by the property owner and can save you from headaches down the line.

 
Know your terms! Keep in mind that leases are longer for commercial properties, and 3 to 5 years is considered short term for many properties. For longer terms, a decade-long lease is not particularly uncommon.

 


Advantages of buying an existing building

For longer terms, it could be a better idea to buy a property with a commercial building on it instead of renting, and the benefits usually increase the longer you own it.
 

  • The first and most obvious advantage of buying is that as the owner, you can use your property however you’d like so long as it’s legal and meets building codes. There’s no need for approval or negotiation with a property manager.
  • Commercial properties in Lacey are on an upward trend and will likely gain value of over the years. This means you can not only use the property the way you want, but you can make a hefty profit if you decide to sell.
  • Over time, you’re much more likely to save money. Without rent going into the owner’s pocket, you build equity as the money you put into the property can be earned back if and when the property is sold later.

 
Location is everything! If you find the perfect location but it has the wrong building type, it could be profitable to tear down the existing structure for an ideal location.

 


Advantages of buying your own land

There are always plenty of commercial properties available in and around Lacey. Some are more developed than others, and depending on how much time or money you have, one might be better than the others.

  • The price of land is usually much cheaper than a developed property. If you work with a competent contractor, this can save you a lot of money, but you won’t be able to use the property for a long time.
  • You don’t have to worry about any structures getting in your way and can build what you want. Whether you want a steel frame warehouse or a brick shopping center, you have plenty of freedom.

 
Which is cheaper? When deciding which option is best, cost upfront vs over time is one of the most important questions. Unfortunately, there’s no easy answer, but a professional development company can help you figure that out.

 


Still not sure what to about your commercial real estate?

No problem! Calling the pros to help you make the decision for your future commercial property in Lacey is still a smart move.

And with over 50 years of experience, you won’t find anyone better suited for the job than Kaufman Construction & Development. Give us a call today to set up an appointment and we’ll help you go over the options to find the one best suited to your needs.

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