Pre-construction Retail Space
I am planning to buy a office condo in a new pre-construction project near my place. The condo will be delivered in 10 to 12 months, My idea is to rent it or sell it out. Will the office condos appreciate similar to residential condos? Are there any flippers in commercial real estate? I done some flipping in residential but not sure how it will work out with office condos. Any ideas..
another question I had was regarding leases that have a long fixed term (15+ years). Are provisions typically put in place that allow the base rent to rise over the years to reflect inflation, etc?
Parking ratios?
Is there adjacent land available in this theoretical strip mall?
10,000 to 15,000 square feet is not enough for an grocery in the modern market. You might find a speciality retail grocer.
Its about the right amount of space for a Murrays or other auto parts store or a Dollar General, that sort of thing.
Well at 4.5 spaces per thousand feet of showroom you are pretty tight on parking too which is going to make even a small specialty grocer nervious.
Is there a lot of foot traffic or is it all cars?
How about office space in the area?
Maybe a 7/11 or a White hen?
down here in GA we will park small retail centers at 3-5 per thousand without any problems. If you have restuarant space planned you will most definitely need a higher ratio...like 10 spaces per 1,000 GLA.
Well price and terms are always intertwined. How much are you planning to pay for the store? Does it included the real estate or is it the business only?
Sorry about that Commercial King....
The business includes almost two acres of land, the buildings, the business, the inventory and the equipment. The seller is asking 275K.