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What is my commercial property worth?
Get a comparative market analysis on your commercial property today!
Click here for the form.
What can I do to get my commercial property ready for sale?
It is imperative that sellers take extra care to make their commercial property as appealing as possible to buyers.
How much should you spend?
In preparing your commercial space for the market, you want to get the biggest bang
for your buck possible. “Polishes” and
“touch ups” are what you want, not extensive and costly renovations. I can advise you specifically on which
improvements need to be made and which improvements will get you the
highest return on your investment. I can also recommend the best
professionals to help you get those improvements done.
Maximizing your commercial property's curb appeal:
Strong curb appeal can go a long way toward making up for other
shortcomings. Don’t forget the back of the property, either. A well-manicured
front entrance and a neglected back entrance will make buyers wonder where else
you are cutting corners. To enhance your commercial property's exterior and curb
appeal, check the following and repair as necessary:
- Have the lawn edged, cut short and watered. Have this done on a weekly basis while the property is on the
market. Keep hedges, weeds, flowerbeds and trees maintained as well in the front and back of house.
- Check the foundation, steps, walkways, walls and patios for cracks and crumbling.
- Inspect doors and windows for peeling paint.
- Repair and replace loose or damaged roof shingles.
- Repair and repaint loose siding and caulking.
- Re-seal an asphalt driveway and make sure parking spaces are clearly marked.
- Close your garage door and keep it closed.
- Remove unused clutter from the property.
- Apply a fresh coat of paint to the front door and new hardware, if necessary.
Maximizing your commercial property's interior:
Now that you have made a good impression on
potential buyers with your curb appeal, don’t disappoint with
the interior. A few simple “touches” will again
translate into favorable impressions and higher offers. To enhance the interior of your commercial space, check the following and make changes as indicated:
- Thoroughly clean every room and remove all clutter. Make sure all wall sockets and light fixtures have covers and are in working order.
- Have a professional cleaning service come in every 1-2 weeks while the property is on the market.
- Mend cracks, leaks and signs of dampness in the attic and basement.
- Repair cracks, holes or damage to plaster, wallboard, wallpaper, paint and tiles.
- Consider painting dingy, soiled or strongly colored walls with a
neutral shade of paint, such as beige or off-white. Paint the ceiling
and trim white for a sharp and clean contrast. Neutral colors make
rooms appear larger and help prospective buyers picture their own
belongings in your house. The same strategy should be applied to floor
coverings that you replace.
- Replace broken or cracked windowpanes, moldings and other woodwork.
- Inspect and repair your plumbing, heating, cooling and alarm systems.
- Repair dripping faucets and showerheads.
Tip #1:
Have building as near to full capacity as possible, with mid- to long-term leases in place. More reliable income for your commercial property translates to a better investment for prospective buyers.
Tip #2:
Have profit and loss for the last 1 to 3 years prepared. Also calculate the current capitalization rate for your property. Being prepared to answer these questions from prospective purchasers makes you look more diligent and proactive, leaving little doubt that you are similarly diligent and proactive in your maintenance and management of the commercial property you are selling.
Tip #3:
Consider hanging some art in the building and renting some plants for the hallways to make common spaces more inviting.
Why should I list my commercial property with Beverly Molfino (RA)?
I have a very strong track
record in real estate in Hawaii and I
have been doing real estate for many years. With my vast experience
in Hawaii, my lengthy list of resources,
it is no wonder that I have so many satisfied clients.
My greatest strengths are my knowledge of the land,
the islands, and an ability to make and grow relationships based on
trust. I have extensive knowledge and experience in commercial investing.
I have been described as the type of real estate
agent that rises above the crowd. My name stands for quality, and my
reputation is impeccable. My goal is to understand my clients' needs
and help them find exactly what it is they are looking for. It is
imperative to listen.
My commercial property needs some basic maintenance. Should I fix things before I list?
This really depends on the extent
of the work that is needed. In some cases it may be wiser to list a property "As-Is", and in some cases a little handyman work can go a long
way. I can offer my advice once I view your property.
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