For the most part, the best way to profit from a commercial property is to get tenants to lease it. However, it is entirely possible that there will come a time when you have no choice but to sell your investment. In such cases, here are a few tips to help you sell you commercial property faster and for more:
Be aggressive with your maintenance plan to preserve the aesthetic appeal of your property. After all, you’ll be hard-pressed to find someone who will take a shabby building. Apart from being unappealing to the eye, buyers may be turned off by the additional repair costs that buying such a building entails.
Look at Other Properties
Scope out the competition and look for properties that closely resemble yours. How much is the asking price for each property? You may want to pattern your asking price to those properties to attract more buyers. If your property is truly that much better than the others, it is possible that multiple offers will drive up the price your property eventually sells for.
Know Your Tenants
In most cases, buyers are looking for property to invest in, just like you were a few years back. Show buyers that your property is profitable by providing an overview of your current tenants and their plans for renewal and/or expansion.