“Location, Location, Location”
We have all heard this phrase deemed to be the “gold standard” of real estate investing advice, but what determines a great location?
The answer is the appropriate and suitable location depends upon on the property type or business use. An ideal location for a hotel would be different for an apartment, car dealership or restaurant.
Here are four of twelve key components to consider for commercial retail or business locations:
- Good Visibility to vehicular or foot traffic. Good visibility is defined as in plain visible sight (by eye) for an extended time period (either minutes or miles) and relatively identifiable as type of property or business. Good signage can also compensate for lesser visible locations. Some fast food restaurants have mastered this concept, but typically require both good visibility of building and signage when possible.
- Accessibility or rather easy access. The benefit of superb Visibility for retail purposes is greatly diminished when a location poses access conflicts due to traffic that is congested, confusing, dangerous or time consuming. Optimally access should be quick, simple and relatively safe. Housing and office locations are less dependent and more forgiving in this situation.
- Suitability of...
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Posted at: 08:55 AM | Permalink
Investment opportunities are plentiful during the troubled economic times of the current day. How one determines which of the many to choose from can be a major decision. Many times past performance and current market conditions are the quick determinants for the short term, but investors should also consider overall economics of a state or area’s trade potential and growth potential for a resilient economy. Job retention as well as the important job growth are key components for the sustance and long term profitability.
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Posted at: 09:42 PM | Permalink