Commercial Industrial Properties For Sale
COMMERCIAL
There are various kinds of commercial industrial for sale, and it is best to be acquainted with them so you can make an informed decision.
They are multifamily, office, retail, hospitality, and industrial. Commercial industrial properties are most commonly used as distribution centers or warehouses and come in various sizes to suit different purposes.
Commercial industrial properties can be used for heavy manufacturing, light assembly, bulk warehousing, and flex warehousing. It can be a daunting task to look over and examine every commercial industrial property for sale in California, which is why you need the help of a field expert.
Rebecca Satti Realtor not only specializes in residential homes but also commercial industrial units for sale. Here are a few things to take note of:
Building Classification
Each type of commercial industrial for sale has different classifications. The classifications are determined by different factors, such as quality, price range, and amenities. As a business owner, it is important that you know how it will impact you in the long run.
However, you should also understand that the classifications are subjective. Demographics can be a huge determining factor on the building classification. What may be deemed Class A in a mid-sized suburban area can be classified as Class B in a large urban location.
Class A are new buildings with high-quality visual appearance and state-of-the-art amenities.
Class B are slightly older buildings with reasonable amenities and a good location.
Class C are buildings that have been standing for over twenty years and are in need of renovation. Class C buildings are outdated.
Building Condition
Another thing to keep a close eye on is the condition of the existing commercial industrial unit for sale. How many years has it been standing? What business was conducted before it was put up on sale?
Knowing these things early on will give you ample knowledge about the building and how much it may cost for repairs and renovations. Aside from that, you should also have the building inspected by professionals to uncover any underlying structural problems that need attention.
Financing Options
There are different financing options. Choosing the right one will guarantee a smooth and straightforward transaction. However, your options may be limited depending on your credit scores, your lender, and the property you’re planning to purchase.
It is best to get pre-approved before making any offers. Some types of commercial real estate loans are:
- Bridge loan
- Hard money loan
- Conventional mortgage
- SBA 504 loan
Earnest Money
Once everything is set, the next thing to do is close on the building you’re buying. The seller may ask you for earnest money — this is typically 1% of the purchase price. This is a deposit proving that you’re set into buying the property. You can also work out a refund agreement if something happens.
Deal Terms
When the agreement between you and the seller is finalized, make sure to read the fine print of the deal. Always check the paperwork for any issues. Checking the terms of the deal will give you the chance to talk to the seller and fix any problems that may damage your business in the future.
Reach Out to Rebecca Satti
If you’re ready to invest in a commercial and industrial property for sale, Rebecca Satti Realtor can help.
My office is your partner when it comes to finding the perfect property for your needs. Rebecca Satti is dedicated in providing you with options that meets all your requirements. With my vast experience in the industry, you'll get your hands on the best commercial industrial units for sale.
