The past several months have seen a huge increase in residential real estate across Canada. Houses have been selling quickly with many selling for more than the asking price. If you have commercial real estate in Calgary for sale, you may also have noticed an increase in demand.
Commercial real estate encompasses retail, industrial, multi-family, leasing, and business transactions. Now is a good time to start increasing your real estate business in Calgary because companies are getting back to work and the economy is heading in a positive direction.
Buy real estate
If you are looking for a commercial place for sale in Calgary, there are plenty of options. Both novice and seasoned buyers will benefit from using a commercial real estate agent to represent them in a transaction. Perhaps you are considering purchasing a large multi-family apartment building. You will need to know a substantial amount of information before making a decision to buy. Some of the things you will need to know are:
- Building size
- Lot size
- Zoning
- Number of suites
- Rental income
- Net income
- Age of the building
- Vacancy rate
Sell real estate
When you want to put your commercial real estate in Calgary for sale, you need to know what similar types of properties are listed and have recently sold in your area. Your real estate agent will have access to the property database to provide you with a comparative market analysis of your property. This will allow you to know what similar commercial real estate properties are priced at.
Listing your property for sale at a fair market price is the best way to be competitive and encourage a sale. Perhaps you want to grow your real estate portfolio after selling an existing property. Re-investing funds from a recently sold property may offer you some tax benefits while allowing you to diversify your real estate holdings.
Hire a property management company
Remember that commercial real estate is not just about buying and selling property. One of the most lucrative ways to build a real estate business in Calgary is to lease out commercial real estate, such as an office building or a retail location. Leasing space is also available in residential locations. However, being a commercial real estate landlord is no easy feat and requires a lot of time and dedication. Hiring a property management company to take care of the building and tend to tenant concerns gives you back your time to continue to grow your business.
When considering buying or selling commercial real estate, speak to a realtor who can offer guidance along the way.
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Disclaimer
The material presented in this blog is provided for general information and educational purposes only. It is not a substitute for professional advice. All information is subject to change regularly and without notice. CMS Real Estate Ltd. assumes no responsibility for any errors in the information provided, nor assumes any liability for damages incurred as a consequence, directly or indirectly, of the use and application of any of the contents of the blog/website page.