Factors That Influence the Marketability of Industrial Buildings
- Not unlike residential buildings, the factors that influence the marketability of an industrial building also revolve around location, price and amenities, just on a larger scale. If you're looking to purchase, sell or invest in an industrial building, consider the following items as you examine the property.
- In all forms of real estate, location is critical. If you find a fantastic property, but it's located 50 miles from the nearest city, you're going to have a hard time finding employees to work there. Consider the convenience of the location as well as surrounding buildings; are there restaurants, shops and other buildings nearby? If so, this will increase the marketability of the building.
- Anyone looking to buy or sell an industrial property should contact a Realtor who specializes in commercial properties to get some comparables. What is the price per square foot are similar buildings in the same area? If a building is overpriced, obviously that will decrease its marketability. A competitively priced property, on the other hand, should draw some interest.
- Does the building have elevators? Is it ADA-accessible for wheelchairs? Does it use any green technology? Does it have features such as a kitchen, new windows and new smoke detectors? All of these items will influence the marketability of the building.
- Finally, anyone looking to purchase an industrial building is likely going to want a tour. What first impression does the building leave? Was it left in disrepair by a previous owner? Is it spotless and well-organized? While an industrial building doesn't have to be as perfect as a house when it's shown to potential buyers, it should be in good condition to boost its marketability.