Commercial Real Estate Questions
Hi BP Community,
I am new to commercial real estate with an interest in purchasing either a small strip mall or office building. I have been calling a few properties for sale in my area. I would like to get some advice about what are the most important 3-5 questions I should be asking when I speak with a commercial agent about a property.
I thank you in advance for your feedback.
Chris G.
Most Popular Reply
You definitely want representation, an agent that will consider your interests, and
@Jennifer Lee outlined great questions to ask, and all really focus on the numbers. Be sure to conduct your research as well, as sometimes information may be fluffed, and not as accurate as it may seem. You may also want to reach out to the tenants, and inquire about their experience in the space, or evaluate the likelihood of increasing revenues if no rehab will take place. Could you bring in another anchor that would drum up more interest? Should you bring in more mom and pop shops that have interest already garnered? Really think about your goals and how the particular strip mall will fall in line with your objectives prior to pursuing the purchase. Happy investing!