Searching for Commercial Real Estate? Here’s how to do it right!
If you are in the market to purchase or lease commercial real estate, you probably know there are a lot of options out there. Here at NAI Martens, we want to help you search the right way so you can make the best decision for you and your business. First off, you should set a budget and figure out what your needs are. Then comes the hardest and most important step: finding the perfect commercial space to meet your business needs.
There are many tools out there that can help you, but it’s important to know where to look and who to help you look. If you don’t work in commercial real estate, it’s easy to get overwhelmed by all the options. You can quickly become frustrated with the process, or even worse, make a bad decision and end up in space that ends up not working for you or your business.
We have come up with some tips to help you make this important decision.
Searching For Commercial Real Estate Online
In today’s society the first place we turn to for information is the internet; commercial real estate is no different. There are thousands of online listing databases available with only a click. But watch out, a Google search for “Commercial Real Estate, Wichita, Kansas” brings up more than 800,000 results! How do you know which ones are worth your time?
There are several major providers that have thousands of listings which every commercial real estate user or owner should know about. These include:
These sites are going to feature the most listings in most markets, but they all have their own issues. These sites rely on the users to update the listings so you will find records that are expired, been leased or sold, or are just wrong. Additionally, no one site has every listing in the market.
While these sites are great for seeing an overall sample of the market, you are better off going directly to a local brokerage firm’s website to get accurate and current information on local listings.
Local offices will each have their own listing platforms where they have currently available properties and are usually kept up-to-date.
For commercial real estate in Wichita, Kansas, visit www.naimartens.com/properties.
Another thing for buyers to consider is the cost. All of these sites cost money and some commercial real estate owners are going to market their listings offline. Because of this, our next tip is going to be to get out there and do some legwork.
Searching For Commercial Real Estate On Site
While online tools are helpful, more traditional methods still hold value when searching for commercial real estate. There are many reasons to get in your car and drive around your market looking for “For Sale” and “For Lease” signs. These include:
- Checking specific properties: Doing your own in-person follow-up to an online search can provide you with an accurate view of the property and help you determine if it’s worth your time.
- Additional properties: Not every property is listed online. You might find a property that you otherwise would not have found.
- Location Evaluation: Viewing different properties in-person gives you a realistic feel for the location including foot traffic and overall condition of the properties’ cleanliness/safety. Does it appear to be well managed? How far away is parking? Etc.
Searching For Commercial Real Estate with a Professional
Online services and driving the market are great ways to find your commercial property. But there really is no substitute for hiring a commercial real estate broker to help you in your search.
When tenants and owners working with a commercial real estate professional gain access to the most current and comprehensive listings in their local market. How?
- Resources: A licensed broker will subscribe to online listing services–meaning you get the benefit without incurring the cost.
- Networking: Local connections with owners and other professionals in the market gives brokers access to “off-market” listings that may not be advertised anywhere.
- Knowledge: A local broker’s knowledge of the market will help ensure you don’t pay too much for your property.
- Low-cost: Typically, brokers are paid by the property owner, their services don’t cost you a thing.
Searching For Commercial Real Estate in Wichita, Kansas?
If you are looking for commercial real estate in Wichita, Kansas, let our team of professionals help you find your perfect commercial property!