Commercial real estate is always an exciting part of a realtor’s business, but Santa Barbara has several agencies that are more than up to the challenge. From land waiting for development to downtown storefronts, there are many different types of commercial properties to work with.
With a large number of real estate agencies in town, Santa Barbara has many realtors that are experts in the commercial real estate market. Skilled in the art of the deal and with years of experience, having one of these agents working with you makes the most complicated negotiations go smoothly. There are several types of commercial properties in the city and knowing the different kinds can help with decision making.
Retail properties are a key part of commercial real estate and store prices are based on a number of considerations. Usually the price per square foot as well as the income generated by the business occupying the store is taken into consideration. Sometimes the name recognition of the store or the desirability of the location influences the price as well. While malls are retail establishments, they’re usually considered investment properties since most of their income comes from renting rather than selling. Retail transactions are some of the most intricate and difficult types of commercial property sales and getting a solid realtor is a smart move.
When investment properties are being discussed, apartment buildings, office buildings and malls are usually the main types brought up. With the bulk of their revenue coming from lease and rental agreements, the pricing of this type of real estate usually involves a price per square foot plus the rental income of the unit over a specific period of time. Office buildings are like retail stores in that the property is usually bought with the knowledge that remodeling may be required in order to meet the needs of a particular tenant.
Industrial land is also often included under commercial property as well, and can involve very large buildings and lots. Zoning types and allowed uses come into play with this type of real estate. While price per square foot is important, the kind of business allowed on the lot as well as the materials that can be worked with onsite can make or break a deal.
Commercial real estate is a vital part of the economy and it’s advisable to get a solid realtor to work with as you weave your way through the possibilities available to you. Whether you’re buying a store or getting an apartment building, there are plenty of opportunities here in Santa Barbara to invest well.