If you invest in real estate, you know the residential housing market is hot right now! But what about commercial real estate in Oradell, NJ? Should you sink some of your money into one of these operations, or keep waiting for the housing bubble to burst? Commercial real estate investment can be a good choice, as long as you keep the following factors in mind.
1. Location of Your Commercial Real Estate Investment
Location is once again relevant! After two years of doing everything “from home,” community hubs, “downtown” spaces, and commercial business plazas are reopening. When you consider your commercial real estate investment plans, you need to make sure your property is in a good location. Choose an area where your commercial property tenants have already been established, and where there is still room to grow. Established properties near new housing construction, new highways, or other amenities are positioned to see growth!
2. Age of Facility versus Modern Needs
If you’re looking to buy commercial real estate in Oradell, NJ, you may have noticed that we have some classic properties. In older communities, many of the commercial properties were built in the 70s and 80s, and have not seen significant upgrades. These can come at a lower cost, or can be hugely popular in the community, but make sure you have a thorough understanding of the property’s needs and amenities before you sign your contract. A new coat of paint and upgraded plumbing is one thing; a collapsing roof or a property that is not accessible could cut into your profits.
3. Why You Need the Best Real Estate Agents in NJ
No matter what kind of property you plan to buy, you need a high-performing real estate agent in NJ to help! If you’re buying a commercial real estate investment in NJ, you need a knowledgeable, local agent even more. Your real estate agent can help you find a neighborhood that is suitable for your investment, provide tips on age and condition of these buildings, and even connect your commercial property with tenants.
Ready to start investing in commercial real estate today? Call Sheldon Neal—That British Agent and his team will help you find the perfect property today!