When selling commercial property, there are vast differences in preparation between that and residential property.
While you may not smell freshly-baked cookies through your commercial property, it’s still important to make the property look and feel as appealing as possible to potential buyers.
However, to do so, you need to know the right steps to take. Since ultimately a buyer will make a decision on purchasing the property based upon the potential for profits as well as how much work they will have to do on the property, it’s best to have it in excellent shape from the beginning.
If you want your commercial property to garner top dollar, be sure to put any concerns buyers may have to rest, such as oil tank detection, before putting it on the market. To help with this, here are six ways you’ll get the maximum price for your commercial property.
If your commercial property needs to have work done on it prior to putting it on the market, you’ll need to be sure environmental remediation is performed prior to putting it on the open market.
This is a crucial step, since it’s possible soil contamination can occur during construction procedures. If this happens, construction will have to come to a halt until the problem is resolved, which can delay the sale of your property. When you need environmental services or demolition contractors, T. Slack Environmental Services can put their expertise to work for you. Whether it’s site restoration, hazardous waste disposal, or remedial system construction, T. Slack can handle all of these situations and much more.
Install a Custom Driveway Gate
A great way to improve the looks of your property as well as provide greater security, a custom driveway gate can help you get top dollar for your property. Available in wood, metal, wrought iron, or other materials, these gates can be built to virtually any specifications and create a stunning entrance to your property.
Resurface the Driveway and Parking Lot
If there is one thing that catches people’s eyes when they approach a commercial property, it’s the parking lot and driveway. Many times when a commercial property has been left unattended for several months, the parking lot may become stained or looking worn out. If your property has this problem, make sure you get the parking lot resealed as soon as possible. Along with this, have the lines to the parking spaces repainted, which will make the lot appear brand new. Finally, be sure any obstructions in the lot are removed, making it easy for customers to drive or walk through the lot.
Hire Demolition Contractors
If there are hazardous structures on your property, it’s critical that you hire demolition contractors who know how to handle these problems. With any demolition job, T. Slack offers a $5 million pollution and liability insurance policy to its customers while performing their vast duties. By having demolition experts who have decades of knowledge and experience with commercial property, you’ll be assured any demolition job will be performed exactly as needed.
Check Safety Features
Along with making sure the building and parking lot look great, it’s also important to take care of the various safety features associated with your property. This includes such items as fire sprinklers, fire alarms, burglar alarms, emergency exits, and others. To ensure all of these items are in proper working order, make sure you work with a reputable safety company that can install, inspect, and test all components of the sprinklers and alarms. While this may seem like a somewhat boring aspect of selling your property, it can in fact play a large role in giving a potential buyer peace of mind prior to finalizing the sale.
Upgrade Common Spaces
After you’ve checked the sprinklers and alarms, it’s a good idea to give the common spaces a major upgrade. To accomplish this, buy a few gallons of paint and hire a reputable painting contractor to make the property look and feel brand new. Along with this, consider replacing the flooring. Just like a worn-out parking lot will draw attention, so will flooring that is old and dull. However, if you do this, be sure you have flooring installed that is durable enough to withstand high volumes of foot traffic. And finally, make sure the HVAC system is upgraded and working well, since you want to ensure your building will keep customers cool in summer and warm in winter.
While you may have to spend some money to perform these upgrades, it will be well worth it when a buyer agrees to give you top dollar for your property. Whether it’s installing a custom driveway gate or making the parking lot look like new, chances are your hard work will pay off when you receive your asking price.