When asked last year how they would expect the commercial real estate market to be doing last year, many brokers expressed concern that it would be experiencing a downturn. The opposite has happened for the land development, retail, industrial and office sectors in major markets in Central and West Florida, though. The Lakeland, Fort Myers, Sarasota and Tampa Bay commercial real estate markets are thriving.
When it is time for you to purchase real estate, your top priority is to make sure that you are doing what is in your best interest. One thing that might make this a bit more comfortable is to hire an attorney to assist you through the process. This helps you find out if there is anything hidden in documents, and the attorney can help you protect your rights.
Commercial real estate is a very common choice for investors. Many people get a buzz from finding a property that has huge potential to increase in value in a relatively short period of time. If you want to invest in a property that can be used commercially and to gain a rental income, you should make sure that you are going about it in the best way possible.
If you have only purchased residential real estate in the past -- such as a family home -- and you're now thinking of buying a commercial property, you need to know that there are some significant differences in the way that you determine the value of that property. Before you close, make sure you know exactly what you're buying and why you're paying for it.
If you've recently set out to purchase commercial real estate in Florida, then you're probably well aware that while it's similar in some aspects to the residential process, it's very different in many ways as well. One factor that sets one type of transaction apart from the other is the time it takes to wrap up a deal. Commercial property closings notoriously take a long time.
If you're in the market for commercial real estate, you're probably looking forward to the day when you finally make a purchase. As excited as you may be, it's critical to pay attention to the many details associated with your transaction.
One option you have when considering commercial property is to buy space in a mixed-use building. While many buildings are zoned for either commercial or residential use, these buildings are zoned for both. The classic example is an apartment building with apartments on the top few floors and shops and stores on the ground floor.
The Florida commercial lease tax rate is set to drop from 5.7% to 5.5%, the third reduction in three years.
Florida is among the states that are expected to see a growth in the demand of commercial property in a specific sector: cold storage.
Melbourne realtors often clamor to get an exclusive listing to sell units in a condo building the moment they hear that a new Florida development is in the works. They attract customers in the market for a newly constructed home by telling them that the earlier they buy, the better the price will be. They also let them know that they customize their unit. Even though it may seem ideal to buy a condo during the preconstruction phase, that's not always the case.