Buyers

wenatchee commercial real estate for sale

Buying Wenatchee Commercial Real Estate? Here Are Some Tips

Making the decision to purchase commercial real estate whether it is for your business use or for an investment is no small task. Making a mistake can be very costly. If you are currently leasing there are benefits for both leasing and buying and you need to research which is best for you. There are benefits of leasing commercial, but buying Wenatchee area commercial real estate adds value to not only your business but your real estate portfolio as well.

The process involved differs greatly from buying residential real estate, especially in consideration to the dynamics of your company, but each commercial real estate purchase is unique in that aspect.

There are a variety of considerations that are critical for making the most successful purchase possible.

Ask yourself the right questions before you make a decision to move forward to buy. Some of these questions might lead you to revisit your business plan for marketing details.

What is the best area for your business's customers and employees?
What type of zoning do you need?
What demographics are you looking for in the surrounding population? (Here's a great article on Why Demographics are Crucial to Your Business)
What is the building/land criteria necessary for your company's use?
How much time and money can you commit to a tenant improvements?
Should your business own it or should you individually or a separate LLC own it and lease it back?

Research. Before you make the decision to buy, contact the Nick McLean Commercial Team to assist you in identifying the questions you will need answers to and find the answers. The information we are able to assist you in obtaining can be the difference between a wise financial investment and a less lucrative endeavor.

Questions we can help answer are:

How much are the property taxes?
What is the zoning for the property?
Why is the owner selling the property?
Are there any necessary upgrades to make the building Americans With Disabilities Act compliant?
Are there any rental opportunities that go along with the space?
Is the property in a historic area that might have business exterior restrictions and regulations?
How old is the building?
Have there been any major upgrades or expansions made to the property?
Has lead paint or asbestos ever been used?
How will it impact your future plans?
What are my financing options and the monthly payments?

Build your commercial real estate buying team. You will need to have several professional service providers to review your plans and actions. You will need an experienced real estate attorney, an accountant who is familiar with real estate investments, mortgage broker who can identify several lenders, and of course the right Commercial Real Estate Broker with the right experience, knowledge and expertise. Nick McLean Commercial Real Estate Team is ready to make recommendations if you do not already have any of these professionals.

Get acquainted with your area. If you are considering relocating your business to Wenatchee or are looking to start a business, speak with members of the Wenatchee Chamber of Commerce and contact the Nick McLean Real Estate Group who has been a dedicated community member and truly understands commercial property in North Central Washington.

HAVE A QUESTION?

Whether you choose to do business with us or not, we are here to answer any questions you have.