Are you preparing to sell a commercial property and wondering how to best market it? Maybe you own a small building that contains several office suites leased to various professionals. Or, perhaps your property is a self-contained store front in a residential strip mall. To connect with the right buyer, it helps to reflect on what you appreciate about the building. Here are a few ideas to get you started.
 

Commercial properties are much easier to sell (and rent) when they’re in a good location. Prospective buyers - whether they intend to lease the space out or operate a business there themselves - need to see the benefit of the locale. So, be sure to explain what makes the neighbourhood an excellent one for businesses. For example, is there a major road nearby for easy customer access? Does the location receive a lot of foot traffic, or is it on a convenient bus route? What can you say about parking availability? Finally, is there a future benefit to the location due to planned development in the area?
 

Do you currently have some great business tenants? Then try reaching out to them to gauge their interest in purchasing your property. You may have one or more renters who are eager to buy the building. If they have the means to finance the purchase, they may be ready to consider this rather than dealing with the uncertainty of leasing the space from a new landlord. Alternatively, they may know of someone else who is interested in the building - maybe another professional or small business owner or even a friend or family member.
 

Think about the success that you’ve had owing the property and talk it up. For instance, have you found it easy to find good tenants and have many of them been with you for a long time? What about rental revenue - have you been able to lease for a good rate? Maybe the market value of the building has steadily increased in recent years and this is projected to continue. Don’t forget to include the cost of operating and maintaining the building and how these add to its value. Also, you may have invested money in updating and renovating the property to ensure that it remains a modern and pleasing rental space for tenants.
Be prepared that it may take you some time to attract the right buyer. And, that’s where a knowledgeable Realtor can be indispensable. It’s important to work with someone that you can trust - an agent who is invested in understanding what the property has meant to you and is focused on marketing it effectively. I would be only too happy to help!