Acquiring or renting a commercial property is a project that requires big investment, in which if you do not count with previous experience it is advised to look for strategic counseling. There are plenty of things to takes into consideration and guarantee to make the most out of your decision.
Purpose and budget
Before looking for any commercial premises, it is important to define your objectives and the amount of money you have destine for the investment.
The type os business is what is going to define the main characteristics of the place – for example, they change depending on wether it is a clothing store or a restaurant.
Another important aspect is to know clearly your budget. The Nativu advisor Irene Saravia, explains that according to your sales projection you should stipulate a limit on how much can you pay monthly or the maximum amount of money to buy the property.
Prices can vary depending on the commercial plaza, novelty, success, tenants, among others. Keep in mind that if it is located in a commercial plaza there is a maintenance fee. If you are looking to finance the purchase, remember the mortgage monthly payment.
Location and extension
To determine the ideal location for your business, keep in mind your actual necessities and future expansion plans, as well as the location of your target.
The surrounding tenants have a big indirect value, because they can help to attract traffic to our business or simply make it shine. When we are surrounded by successful businesses from different areas we can project better.
Irene Saravia, Nativu advisor for Escazú and Santa Ana
Part of a great strategic counseling is to analyze the environment and visualize it in different places to make the best decision. To value your business category is important to identify the competition and how close they can be, some commercial plazas have an exclusivity contract in which two shops with the same activity are not allowed.
Depending on the purpose the extension can change, according to your business plan you should know the minimum space require to operate and produce your projections. There are spaces from 25mts2 to more than 1000mts2.
Another very important aspect according to the dimensions is to define wether it requires a lot of parking space because it eliminates a lot of options, as well as if it is better to have it in a commercial plaza or as an independent business.
Other details
Sometimes the spaces require renovations to adapt to your necessities. This has to be contemplated in the budget because they can be pretty basic or it can involve a bigger investment if the property is in core stage.
In both cases our advisors recommend to have an architect or designer to guide you to the most accurate decisions.
If the shop is inside a commercial plaza you should check the Renovations Manual in order to adapt to the requirements for the facade and work hours.
If the property is not in a plaza check the current law according to land use, as well as an study to verify that the place is free of charges.
Investing in a new project is exciting but requires a lot of planing and attention, for this reason it is good have the help of an expert that can become your best ally.
