The 5 Most Important Features on Your Commercial Property

Suppose you own or are looking to invest in a commercial property. In that case, it is important to understand the key features that can make or break the success of your investment. While profitability is important, managing your commercial property requires careful attention to 5 key features: location, square footage, parking, cleanliness and maintenance, and building quality.

In this article, we’ll look closely at each feature to provide more in-depth knowledge about commercial property management and explore how neglecting any of these areas can lead to a decline in the property’s value and profitability.

Location

The location of a commercial property is a critical asset that can significantly impact its profitability. Property owners and managers must ensure that the area is safe, accessible, and inspires high foot traffic.

Safety

A property located in a safe area with low crime rates and good accessibility is more likely to attract customers and tenants. While it’s impossible to completely eliminate crime from any location, you can take steps such as researching the crime rate or trends in the area before investing, installing security measures like cameras and alarm systems, and implementing good lighting in parking areas, walkways, and other common areas where criminal activity may occur. These can help minimize the risk of crime on the property.

Managers should also ensure that there are no trip hazards, potholes, or other dangerous areas on the property that could harm tenants or customers. Additionally, having clear parking lines is essential for customers to navigate the parking lot easily.

Accessibility

To make sure all customers and tenants can access the building without any issues, property managers need to comply with the Americans with Disabilities Act (ADA) guidelines. The property must have accessible parking spaces, entrances, restrooms, and other facilities.

Inspiring High Foot Traffic

Choosing a location that attracts many people, such as near busy streets, shopping centers, and public transportation, can make it easier for potential customers and tenants to access your property. More people visiting the property can increase its value and make it more appealing to potential customers and tenants.

Achieving and Maintaining ADA Compliance

Your property must be compliant with the Americans with Disabilities Act (ADA) to ensure that all customers and tenants can access the building, including primary function areas, without any difficulty. This includes providing accommodations and modifications that provide access to individuals with disabilities such as handicap ramps or curb cuts at entrances and exits, or accessible hardware on doors and windows and among others.

For parking lot spaces, ADA in general requires to have one accessible parking space for every 25 parking spaces. Another specific requirement is to “remove barriers” that could hinder a person’s access to the building.

E. Meier Contracting can take care of your ADA compliance needs. We believe that beyond improvements or additions, it’s always important to keep your parking lot maintained for the safety of all your customers.You can trust us to be your partner in creating a welcoming and accessible parking lot for everyone. We can help you from finding out what your parking lot needs to improve, to choosing the best option for repairs or replacement, while meeting all ADA compliance standards.

Square Footage

The square footage of a commercial property is another essential feature to consider. You must ensure the property is neither too small nor too big for your intended purpose to help you maximize the property’s profitability.

The key to maximizing your square footage is to use the space efficiently through smart design choices, creative storage solutions, and flexible layouts. Here are some tips to make the most of your available space:

Reconfigure the Layout: By redesigning the property’s layout, you can better utilize the available space and create an environment more conducive to generating revenue.
Renovate Unused Spaces: You can convert unused storage rooms or basements into rentable office spaces or retail shops, driving profit and increasing foot-traffic.
Balance Square Footage and Rental Income: When determining the square footage of a commercial property, you must balance the size of the space with its rental income potential. Larger spaces typically command higher rents but can also be more difficult to fill. Therefore, property owners must carefully consider the rental income potential of their property to ensure that it is appropriately sized for its intended use.

Parking

It is critical that your property has enough parking to accommodate your customers and tenants and follows ADA specifications. Parking must be easy to access and navigate, making it hassle-free for visitors to park their cars. Having adequate and accessible parking is critical to attracting and retaining customers and tenants.

Everyone deserves a comfortable and inclusive space where there is access to all the facilities and needed services. That’s why following complying with the ADA guidelines is not only a legal requirement but also a way of giving the best service to your customers and tenants.

Cleanliness and Maintenance

As a property owner or manager, you know how important it is to keep your buildings and grounds in good condition. Not only does it improve the appearance and value of your property, but it also ensures the safety and satisfaction of your tenants and visitors. That’s why both the interior and exterior of your building must be clean and well-maintained.

One of the key aspects of property maintenance is surfacing. Whether it’s asphalt, concrete, brick, stone, or gravel, the surfaces you choose for your parking lots, driveways, sidewalks, patios and other outdoor areas can make a big difference in how your property looks and functions. E. Meier offers a wide range of surfacing solutions for commercial and residential properties. We can also address issues such as trip hazards, poorly identified striping, cracks in the pavement, and potholes. By identifying and addressing potential issues early on, you can prevent more expensive repairs and maintain the property’s value over time.

Building Quality

Finally, it is crucial to consider the quality of the building itself. A high-quality building will be safer for tenants and customers and hold its value better over time. To maintain the quality of a building, you must consider the following:

Age of the Building: Older buildings may be more susceptible to wear and tear and require more maintenance and repairs. However, a well-maintained older building can still provide many benefits, including historical significance, unique character, and lower purchase price.

Building Materials: The quality of the building materials used in the construction of the property can impact its durability and overall quality. Materials like brick and stone can withstand harsh weather conditions and last many years. At the same time, wood or vinyl siding may deteriorate more quickly but be easier to maintain.

Structural Integrity: The building’s structural integrity is critical to ensure the safety of tenants and customers. Property owners should inspect the building’s foundation, walls, and roof regularly to identify any signs of damage or weakness. Signs of structural issues may include cracks in the foundation or walls, uneven floors, or a sagging roof.

Make Your Commercial Property Stand Out

You want your commercial property to be the best in the market. You want it to attract and retain customers and tenants who love your space and pay you well. You want it to increase in value and generate income for years to come.

But how do you achieve that?

You need to focus on 5 key features that make a commercial property successful: location, square footage, parking, cleanliness and maintenance, and building quality. These features are essential in creating a commercial property that is welcoming, accessible, functional, and appealing.

But you don’t have to do it alone.

You can partner with E. Meier Contracting who can help you with your pavement and parking lot maintenance and ADA compliance needs. We have the experience, expertise, and equipment to handle any project size and scope. We can help you improve your curb appeal, enhance your safety standards, reduce your liability risks, and save you time and money.

Don’t let your commercial property fall behind the competition. Let us help you make it stand out! Contact us today and get a quote for our services.