The most popular commercial investment property types probably won’t come as a surprise. Sure, there are many different ones. Land, for instance, is a prime example. But, there are several drawbacks to unimproved parcels. (Another is industrial, which presents its own set of challenges. But, there are three which remain the most popular and for good reason. So, let’s take a quick look at the most popular commercial investment property types.
Why Commercial Property Investment is so Popular
Right now, Tampa Bay is one of the top commercial real estate markets in the entire southeast. It performs so well because of the continual influx of new residents — about 1,000 people move to the state per day. And, Tampa Bay is a prime location because it still has room for growth. It’s already modernized but still has untapped potential. Property taxes are relatively lower here and there’s no state income tax.
Incorporating real estate into your portfolio is a smart move if you want to diversify and include some insulation against market volatility. Investing in commercial real estate can offer you the opportunity to realize some significant returns, but it’s best to know as much as possible about a property before investing in it. —SmartAsset.com
All of this, not to mention the fact that Florida is a very business-friendly state. It, along with several counties and municipalities, offer numerous incentives. As a result, the commercial real estate market benefits. And, commercial property investors enjoy strong returns. These are the prime reasons commercial property investing is so very popular. It ultimately produces a win-win scenario for property owners, resident businesses, and their communities.
Most Popular Commercial Investment Property Types
If you’re considering investing in commercial real estate, you’re probably wondering which are the best ones to start with. So, here are the three most popular commercial investment property types to look into:
- Retail space. Make no mistake about it, in-store, in-person sales still dwarf online purchases by far. So, retail space is a great commercial property investment. But, not just any retail space. Location is everything. A retail property in a heavily trafficked area will indeed outperform one that’s in just an average location.
- Office buildings. With a plethora of startups and other types of professional businesses about the Tampa Bay area, office buildings make a nice choice as a commercial real estate investment. What makes these perform well is long leases and reliable tenants.
- Multifamily housing. Of course, multifamily makes the list and is perhaps the strongest. This is because housing is always a necessity. And, since the local population continues to rise, multifamily housing is a wonderful investment vehicle.
If you’d like to learn more about commercial real estate investment benefits and more about the selling process, please contact me.