Miami Commercial Real Estate Investment And Leasing Tips For First-time Marketers

Know the types of properties

Know the types of properties

There are a lot of Miami commercial real estate properties available. Even before you set out for the city in search of the right home for your business, you know exactly what you are looking for. The following is a list of the general types of commercial properties:

1.Retail Spaces

2.Multi-Family Commercial Properties

3.Office Buildings

4.Industrial Spaces, Warehouses

5.Recreational Buildings, Hotels

Hire the right agent

Hiring a commercial real estate agent is quite the same as hiring a residential agent but with few nuances. Its crucial to check for the specialty of the agent you plan to choose. Each agent specializes in a specific type of property. There are agents that can handle transactions for office spaces while there are those who are apt in working with buyers looking for industrial warehouses. While there are certainly several criteria to use when hiring an agent, the specialty is pretty much the foremost standard.

Learn the lease types

Unless youre planning to buy instead of lease, which is the most common and safest practice, you need to the several different kinds of lease terms. To help you, here is a list of the three common lease terms in the Miami commercial real estate:

1.Triple Net Lease

2.Modified Net Lease

3.Gross Lease

Crunch the numbers

Aside from the Miami commercial real estate mortgage, you must know the other expenses involved in buying commercial real estate properties. For starters, once you find the property you plan on leasing, you have to be ready for the appraisal and inspection. These two are different and therefore calls for a separate fee. The appraisal fee can run from a few hundreds to more than ten thousand depending on the size of the property; the same as with the inspection. In addition, you should get a good faith estimate in order to have a clear view of the expected expenses during closing.

Mark Michael Ferrer

Miami Commercial Real Estate

by: Mark Ferrer

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