A commercial building can be a long time source of income for the owner. That is why people are investing in real estate these days. It is a hard fact that the value of a commercial building is not what the assessment says. This is just an indication. Whether you are trying to sell your commercial property, or want to give it on a lease, the value of the property depends on what the prospecting buyer or the tenant is ready to pay for it.
Getting a poor response could be due to a large number of factors including design, look, rent, amenities, etc. and when this happens, you must take definite actions for increasing the value of the building. This can be done by making amazing changes here and there. Read the tips below for adding value to your commercial property and get most out of your investment.
Change the conventional look
The present trend is to have opened up style. In case the commercial building is of architectural style, this can be done by installing more windows to create an inviting look. Change the wooden and metal windows to large glass windows for letting more light in. Also, change the old doors to glass doors for building an open office look.
Update the signage
Signs play an important part in showcasing your commercial property. It is the first thing that is noticed by the onlookers. If you have broken or dirty signs that will deliver a repulsive action in the minds of the potential clients and they may decide not to try your services. Your sign should also convey the brand in a short and crisp message. If the signs are difficult to read that also fails to create a good impression. The signs should be bright and large and not blocked by trees or any other obstacles. Consider consulting a professional sign maker for improving the visibility of the building.
Upgrade the structure
Signs of degradation are common to old commercial buildings, as these are caused by usual wear and tear. Take professional help to make sure that the structure is sound and there is no crack in the foundation. Also get the building repaired and modify, wherever required, for adding value to the commercial building.
Increase the rentable area
Rentable areas should not be confused with total area. Maybe your commercial building has many lobbies, hallways and partly finished areas that could not be given on rent. Consider organizing such places so that those could be converted into rentable space for adding value to the building.
Make it pedestrian friendly
Walk-ability results surprising health and environmental benefits. If you want more people to visit the commercial building, you must build walkways so that people can comfortably go from one place to another. Make sure that the walkways are free from any obstacles to avoid tripping over. Also, build shade on the walkways to keep the visitors cool while walking. Such things are highly appreciated by everyone.
Make it energy efficient and eco-friendly
Electric lights are the major contributor to high energy consumption in the commercial buildings. Consider changing the traditional electric lights into energy efficient lighting to save on power and also to reduce maintenance cost. Using LED bulbs is the easiest way to increase energy efficiency. These can illuminate a place much more than the electric lights and do not emit any UV rays making it safe for the people. People are now very much conscious about the environmental footprint, and they prefer eco-friendly buildings. Although using solar panels involves much upfront cost, it saves money in the long run. Installing tinted windows and water-saving plumbing system will also make the building eco-friendly influencing potential buyers and tenants to pay more.
Improve the exterior
Curb appeal greatly influences the decision of the customers and tenants. You need not always make huge investments in enhancing the appearance. Other than having a coat of paint on the exterior, simple moves such as having the exterior clean and free from clutter are sure to influence those who come to the property. Sufficient bins should also be placed so that people can throw the litters there.
Make parking convenient
Parking facilities are most important for the commercial buildings. Arrange well-organized parking facility with clear markings, security alarms, gates, security guards, etc. to add great value to a commercial building. If there is no parking lot, consider arranging one nearby to make the tenants happy.
Adding amenities also help to increase the value of a commercial building. Consider including ATM, free Wi-Fi zone for improving values. If possible, having a daycare center in the commercial building increases its demands like anything.
Include faux greens
Faux landscaping elements can infuse color and class to the commercial buildings. Regardless of the style and type of the commercial building, faux greens can charm everyone with their enchanting beauty. These are now professionally made to replicate the live plants in all respect, and, therefore, impart a natural beauty to the commercial property that cannot be distinguished visually. Available in many varieties like a hedge, screen, topiaries, letters, logos, etc. these are great to great to revamp any commercial building to the next level and also increase its value. Using green walls and screens, you can create a nice periphery that greatly adds to the aesthetic of the building. When the green letters and logos are used for making signs, they make a nice display of the building. The great thing about these faux elements is that they never fade and can withstand any weather condition. Moreover, these are made self-extinguishing by infusing special fire retardant chemicals and thus provide safe landscape. Installation of the artificial trees and plants are also very easy. Another great advantage of these zero maintenance products is that these do not attract any insect.