Do Commercial Properties Increase in Value?

1. Do Commercial Properties Increase in Value? If you plan to invest in commercial real estate in Oklahoma, you may wonder if commercial properties can increase in value over time. As with any property type, a commercial property's value will fluctuate with the market cycle. However, there are some steps to take that will increase the property's long-term value. Horizon Commercial Real Estate's Guide to Increasing Value Maximize the Space Adding to the property will significantly increase its value, especially when adding in-demand elements, like parking lots or storage areas. Reconfiguring the property by splitting larger spaces into smaller units can also help, as can completing unfinished areas. Refresh the Exterior A relatively fast and affordable way to improve value is refreshing the exterior. Consider repainting the building, and replace siding when necessary. Keep the property clean and add quality landscaping. Update and Modernize Your property's utility systems should be up-to-date and comparable to (or ahead of) those in surrounding properties. For the best impact, use high-quality and efficient HVAC, water heating, and light systems. Create a Name Naming the property creates memorability. The name can be directly related to the location or property type, or it may be more obscure. Update Signage All signs should be prominent and easy to read. The signage should attract attention and accurately represent the property's purpose. Increase Security A secure property appeals to tenants and can lower your insurance premium. Utilizing an alarm system, gates, and shutters shows that you take care of your property. Know the Neighborhood

2. Pay attention to the sale and lease rates of other commercial properties in your area. Consider what is lacking in the area and find out what there is a local demand for. Avoid Vacancies Keeping tenants on your property is the most effective way to add value to your investment, especially if those tenants are reliable. Choose the Right Management Your property management company should be efficient. If there are missed opportunities to reduce expenses, or if the property is being mismanaged, hire a different company. If you plan to invest in commercial real estate in Oklahoma, visit Horizon Commercial Real Estate to find the best properties. #commercialrealestateinoklahoma, #commercialrealestateokc, #investincommercialrealestateinoklahoma, #saleleasebackokc #landlordrepresentationinoklahoma, #saleleasebackinoklahoma, #commercialbuildingsforsaleokc, #industrialbuildingforleaseokc #warehousebuildingsinoklahoma, #tenantrepresentationinoklahoma