Martinez: If they are tired of paying rent and want to secure their facilities costs, buyers should definitely consider all the costs that go into purchasing a commercial real estate property. For example:

When does my current lease expire?
What will be my monthly exposure for the real estate purchase?
Are there additional costs associated with the purchase?
Whom should I contact for a loan?
How long is the length of the loan and at what interest rate?
Is the subject property zoned for my use and does it have the adequate parking?

It is very important to gather all of the associated costs of the property you are looking to purchase. You need to be as educated as possible and be pre-qualified through a reputable lender in your area. This can help you make a proper business decision to determine the monthly costs and savings (if any) and if it truly makes financial sense to move forward. Beyond the loan for the purchase of the real estate, you need to consider additional costs such as real estate taxes, property insurance and maintenance and repair for your property. Aside from these costs, you may also incur be a monthly HOA fee that comes along with the purchase of your commercial office space. Equally as important to the costs is uncovering whether the subject property you are interested in purchasing is properly zoned for your use and has enough parking to satisfy city codes. For example, if you are dentist, you will be subject to different parking-ratio requirements than an attorney would be, due to the high number of clients you are seeing on a daily basis.

Instant Insights /

San Diego Office Buyers: Proceed With Caution

Related Stories

Recommended For You