Commercial real estate generally refers to any type of real estate other than single-family homes, residential dwellings and residential building lots. Commercial real estate may include shopping centers, farming or agricultural land, office suites or complexes, hotels, retail locations and high-rise or multi-unit apartment buildings. Listing commercial investment property for sale is similar to listing traditional real estate, but it may require some additional considerations.
Prepare Your Property
Clean up the interior and exterior of your commercial investment property as much as possible before listing it for sale. If the property is vacant, be sure to remove unnecessary trash or items left behind by tenants. Make repairs to the property, if the budget allows. Even minor repairs, such as patching a hole in drywall, can be cost-effective and could make a major difference when it comes to selling your property. Commercial investment properties with attached buildings show best to potential investors when the buildings are in good repair.
Due Diligence
Conduct some research, and have all the information about your commercial investment property available to a possible buyer. This may include preparing a basic synopsis of the potential uses for your investment property based on the zoning of the property. You may also provide a summary of the price per square foot, how your sales price compares with other commercial properties in the area, in addition to the total revenue the property currently brings in as is, or the potential revenue that could be attained for an investor.
Listing Yourself
Create an account on a website that specializes in commercial property listings, such as Commercial Source or The Commercial Investment Multiple Listings Service. Fill out the online form to build your listing, and include clear photographs as well as information about the property size, location, possible uses and price. If you are listing a property for sale by yourself, you can also utilize online classified listings like Craigslist, newspaper listings, and even billboard or TV advertising.
Using a Broker
Hire a broker to list your property if you are unable to maintain the listing yourself. Although a broker requires a commission for selling your property, the broker also takes over the hard work of listing and showing your property. Many real estate agencies have both residential and commercial real estate divisions, or you may hire a broker that specializes in only commercial properties. A commercial broker takes measurements, photographs and even site surveys to create a listing that may be featured on the broker's website, in commercial real estate magazines and in the commercial multiple listing service accessed by the entire network of real estate brokers.
References
Writer Bio
Sara Melone is a mother of three and a graduate of UNH. With prior careers in insurance and finance, photography, as well as certifications in fitness and nutrition, Melone draws directly from past experience and varying interests. She contributes with equal passion to birth journals, investment blogs, and self-help websites.