Just like you can improve the value of residential properties in a few simple ways, it is also possible to improve the overall value of commercial properties. Many businesses don’t focus on this aspect when they own the office space they are working in. With core focus on productivity and other business measures, they often overlook this aspect.
On the other hand, if you are utilizing a commercial property with an eye to moving on when your business grows, you can actually benefit by making meaningful changes. With the help of these additions to your property, you can improve the re-sale value you can get when you are ready to move.
The following are a few simple things that can improve the overall value of your commercial property.
1. Making changes to the interior
A coat of paint can make a difference in the overall value of your residential or commercial property. Painting the exterior can help to make the place look as good as new and prevent it from looking too shabby. You can even go a step further by focusing on carpeting, flooring options, as well as the layout of the commercial property.
The HVAC system, temperature control, automation features and more will make a marked difference in the interior of the business as well as the overall value of the property. Keep in mind that substantial changes in the layout can cost a lot, but as long as they have a high return on interest, you should go ahead with them. It is extremely necessary to ensure that you don’t end up making major changes, which have low returns since it will not only contribute to the value of the property or give you a significant profit when you choose to sell the property.
2. Focusing on the exterior
Apart from beautifying the interior, you also have to focus on improving the exterior of the place. You can easily do this by focusing on landscaping and making sure that the parking lot is in good condition. You can also go one step further by opting to have the car parking area repainted, which will make it look just as good as new. In some cases, you can even replace the roof to boost the value of the commercial property.
A major reason why you should focus on the exterior is because of the curb appeal of the place. The curb appeal can significantly attract or drive away interested buyers and the investors of your business. Even if you are just making the place look neat and clean, it will make a significant difference in the overall value of the commercial property. Moreover, many people will base their buying decision on how the exterior of the building looks like.
3. Additional space
If you have a warehouse, the most meaningful improvement you can make to its commercial value is by improving on the space available. You can do this by introducing mezzanine floors, which can be used as workstations or even as raised storage platforms. By doing this, you can add more space to the warehouse, which will make a direct impact on its overall usability. The best part is that mezzanine flooring is extremely affordable.
The additional space that is introduced can also be further amplified by introducing handrails, staircases and more. Pallet racking systems can also improve and add additional space in the warehouse. These are cost-effective as well and are considered to be one of the most important features to have in a warehouse. Keep in mind that the more space your warehouse has, the more value it will have in the marketplace so adding pallet racking systems with mezzanine floors can boost the value.
4. Change the usage options
The usage options of a commercial property can also be changed in order to appeal to a larger target audience. Keep in mind that making this change will end up being a major undertaking as it often leads to bigger expenses. The main focus for this is the fact that the functionality of the warehouse or commercial property will be improved upon by the usage changes being made.
For example: Suppose you have a commercial property meant for retail usage. By adding a mezzanine flooring platform, you can effectively maximize the retail store by either adding another area as a showroom or you can use it for storage purposes.
In some cases, this can be more costly, as you might have to remove older things or to get some specialized items, which will change or define the purpose of the commercial building.
For example: If you have a warehouse, which is used largely for storage purposes and you’re interested in attracting buyers from the automobile industry, you can optimize the pallet racking system by getting tyre racking shelves that will allow you to change the usability of the warehouse by giving it a more definite direction.
5. Adding amenities
One of the best ways in which you can add more value to your commercial properties is by adding amenities to it that are functional and useful. On the other hand, if you are also looking to have amenities that don’t take away from the spacing options in the building, you should make use of mezzanine flooring.
Mezzanine flooring can be customized according to usage and is compatible for use with a large number of amenities, including bathroom fixtures, kitchen fixtures, air conditioners, hand railings, staircases and more. With this in mind, you can improve upon the usability of the storage space and add amenities that add value to the place. This also allows you to add different work stations that the business can make use of.
The best part is that these features add value to your commercial property whether you are looking to sell it any time soon or not. For this reason, these are some of the best options for your commercial property at the time.
