Commercial Property Upgrades That Can Increase Its Value

Those who practice commercial real estate find it a lucrative undertaking. But there are actually ways to squeeze more value out of commercial properties without having to completely rebuild the property. Structural and commercial upgrades would do, examples of which are the following:

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  • Go green: Optimizing the energy and water efficiencies can entice more buyers or tenants, because not only will it lower their utility bills, but it also reduces environmental footprint. They could use to their advantage in bringing in more business. There are several ways to do this, such as installing a solar power system, ensuring the structure’s insulation, using eco-friendly materials and appliances, and more.

  • Create a blank canvas: To entice more prospective buyers or tenants, the property should be cleared of pre-existing business, including equipment, furniture, and even wall decals or ornaments. If needed, repainting or renovation should be done. This way, the buyer or renter can have a clear vision of how they want the property to look like

  • Increase “curb appeal”: By upgrading a property’s exterior, its implied value can be improved. A simple cleaning can sometimes do, and it actually is one of the cheapest ways to prep the exterior of a building. Some more improvements include landscaping, installing signage, or upgrading the entryway.

                            
                                                               Image source: propertycasualty360.com



Sam Zherka, a real estate investor, developer, and consultant, has mastered the art of creating value in commercial properties. He is adept in tapping upside potentials through renovations, capital improvement, and life-enhancing facilities. For similar articles, subscribe to this blog.

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