It’s old hat to even the most novice investors that location is essential in any kind of real estate investment. However, there are several layers to this tried and true cliché. INCO Commercial explores some of the deeper reasons why “location, location, location” is key in commercial real estate.
Zoning will play a crucial role in your decision to buy or invest since it will dictate the allowable uses for the property or building. INCO Commercial’s expert knowledge of the Long Beach and surrounding areas will help you explore the different properties available for your zoning requirements. Our agents will also ensure that a zoning verification letter from the local municipality is on file, which will disclose in full detail the zoning allowances for the particular property.
There may be additional limitations on the property itself, depending on what kind of neighborhood it exists in. Some historical properties or neighborhoods will have restrictions on the kinds of updates allowed on both the exterior and interior of a structure.
The actual title and land surveys will also help outline important features, restrictions, and history of the property. The survey can also reveal if the property has insurable access, meaning it has legally deeded access to the roads adjacent to the property. If there is no accessible road directly in front of the property, an easement may be required; an easement allows legal access through another person’s property.
These kinds of details are crucial to know before securing a property. By working with INCO Commercial, you can rest assured that our agents will cover all of the necessary bases to guarantee you have full disclosure of the property before making your decision.
This is where the history of the building comes into play. Any prior use of chemicals on the property can cause potential problems. For example, if a building was previously owned by dry cleaners, gas stations or any business involving chemical usage, this must be addressed. Additionally, it is not only important on the property of interest, but the adjacent properties as well. You should expect to have a brief evaluation done of the neighboring properties, to ensure you have done your due diligence on a potential investment. INCO Commercial’s extensive industry experience will help outline each necessary step in the acquisition of your property.
Flood Zones and Seismic Activity
It is highly suggested to obtain flooding and seismic reports, to determine if the property could sustain significant damage, and to see what kind of additional retrofitting or precautions are required to sustain the least damage to the property. INCO Commercial can also help determine if these things are necessary due to any new legislation.
Proximity to Traffic and/or Resources
Location is also a priority in terms of what is important to your business. Retail and restaurant properties obviously fare better in high-visibility or high-traffic locations, relying in part on that exposure to entice customers. Further, knowing the demographics of the area, and what type of customer the business would attract help ensure success as well. If you have a new business and are unsure in which demographic your business would best succeed, INCO Commercial can help examine this with you. Comparing similar businesses, as well as their locations and other factors can help predict an ideal location for your endeavor.
A warehouse or industrial business would benefit either having access to a major highway or even a nearby port, such as the Port of Los Angeles or the Port of Long Beach. Efficiency in transportation helps cut time and costs on both the outgoing and receiving end of things.
Businesses that do not require foot traffic still need to pick a strategic location to satisfy their employees. This can involve choosing a location central to where employees are commuting from, but also proximity to restaurants, cafes, or other things that can perk up the work day and ultimately improve employee productivity.
Working with Your Investor
Choosing a property and confirming due diligence is done on the property can be an intimidating process. Working closely with an investment broker like INCO Commercial can help relieve some of the pressure off your shoulders. We have fine-tuned our process in our 40+ years of experience, but we also incorporate the latest trends and developments into our strategies to best serve our clients.
No matter what kind of commercial real estate interest you have, INCO Commercial can help you assess what would be the wisest investment options available to you. Our agents’ intimate knowledge of the local Long Beach and surrounding areas can help guide you to properties that would best fit the demands and dynamic of your business. INCO Commercial and our affiliates, IMC Municipal Consulting and CORE Property Management are dedicated to assisting our clients and maximizing their success.
Explore the rest of our website for a full explanation of INCO Commercial’s services, and visit our contact page to find the office location and contact information most convenient for you!