Attending a commercial real estate showing is an exciting step towards potential property acquisition. Effective communication with your broker regarding your requirements and maintaining an open mindset while inspecting a property is crucial. However, to make an informed decision, you need to ask the right questions during these visits. A Bender Commercial broker understands the Sioux Falls Market and can assist in determining if the property aligns with your needs and preferences. Here are ten crucial questions we think you should consider during a showing to help you assess the property’s suitability for your goals.
- What is the property’s history and usage?
- What are the operating expenses?
- Is the property’s potential future use compliant with zoning laws and regulations?
- What is the vacancy rate and lease terms for similar properties in the asset class?
- Are there any needed or recent renovations?
- What is the competitive landscape for similar properties?
- What is the environmental history of the property?
- What are the short and long-term growth prospects of the immediate area?
Armed with insights gained from these questions, you can evaluate potential commercial real estate investments more effectively. At Bender Commercial, we’re here to help with situations just like this. Our South Dakota commercial real estate experts will guide you through property showings and beyond.