For many years, real estate has been one of the smartest investments a person can make. This has been especially true for commercial property since there are numerous options available for investors. Whether using the property for your own business or renting it out to tenants, the ultimate goal is to get the maximum value possible out of the property. To do so, it’s smart to do as much as possible to add resale value to the property. Whether this involves making interior or exterior changes, investing in commercial property should not be seen as simply a business decision that’s good for the present time, but one that will be profitable in the future as well. If you are in the market for commercial property that would make an excellent investment, here are five ways that are guaranteed to add resale value to your property.
Space-Saving Glass Doors and Walls
Whether you’re using the property yourself or renting it out to others, you want it to look as sleek and modern as possible. While numerous design trends come and go, one that is widely used today and appears here to stay is using space-saving interior sliding barn doors and glass office partitions to make the property look modern and happy. With an abundance of natural light shining in whether it’s sunny or cloudy outside, interior barn doors let offices and other areas of the building appear much brighter than they do using artificial lighting. Along with this, sliding barn doors are easy to install and take up much less space than traditional doors, allowing employees to interact with others much more easily. And by using glass office partitions and interior barn doors, the inside space appears much bigger, adding to its aesthetic appeal.
Adding Square Footage to the Property
A very popular way to increase commercial property values, adding square footage to your space is a nice problem to have since it usually means you have plenty of tenants wanting to rent space in your building. In most cases, this means increasing the amount of office space within the existing property, but there are other ways to add square footage. For example, if you can’t add more office space, consider adding a warehouse, storage space, or maybe a conference room to the building, helping to increase its value.
Paint the Interior or Exterior
Along with using glass doors and partitions to give your property a sleek look, giving the interior and exterior a fresh coat of paint can work wonders. Not only is it a relatively inexpensive way to make the property look brand new, but it can also be done without having to make any major structural changes. However, if you do choose to make some architectural changes, look at areas of the property that are incomplete or could be merged into one usable space. For example, if one floor of the building has two closets, consider merging the closets into one large closet and renting out the remaining space as an office. Or if you prefer, add new windows and doors, which can allow for more natural light and change the architectural style of the building.
Increase Security and Safety
Needless to say, nobody wants to rent space in a commercial property that appears to be unsafe. Therefore, it’s important to have the building and its surrounding grounds appear as safe and secure as possible. Some of the most effective ways to do so include, installing an alarm system that’s accurate and reliable, gates at the entrances and exits to limit access to the property, and adding shutters to the property for additional privacy. For some properties that are high-end and have an exclusive clientele, hiring a private security firm to guard the property round-the-clock may be a good idea.
Add More Parking
With many businesses, parking is always one of the biggest concerns. If your property is in need of additional parking, there are several ways this may be accomplished. If you have a nearby grassy area that is not used, you may be able to convert it to a parking lot. Another option may involve nearby parking lots that go unused during the normal operating hours of your tenants. If you can work out an amicable agreement, you may be able to rent out the lot for your tenants, saving you the time and money it would take to build a new lot.
By making a commitment to your commercial property investment and turning it into building potential tenants will be eager to occupy, you’re sure to have an investment that will pay off now and in the years ahead. Whether it’s adding more parking or installing interior barn doors to allow for more natural light, the resale value of your property will greatly increase.