Retail, Multi-Family and Commercial Real Estate
Finding new tenants and retaining existing tenants in this highly competitive market is critical to the owner attaining the financial goals and objectives has set forth for their property. Understanding how proper preventive maintenance, curb appeal and budgeting adds to both the current and future tenants success as well as the overall safety of visitors to the property.
Knowledge of comparable rent rates for the area and positioning client’s property to be competitive is essential to helping owners reach their goals. It is important to understand how the owner’s bottom lines plays into these decisions. No two properties are the same and each must be looked at as having unique position in the market.
Commercial real estate is a very specialized field. Understanding market trends as well as local market conditions has a major affect on how to evaluate sell or lease commercial properties. Knowing and understanding the difference between the needs of both seller and buyer in a current economic climate is essential to client success.
Each commercial real estate property type comes with its own set of specific guidelines and requirements. A solid relationship and networking with local appraisers, lending institutions as well as other commercial specialists is the best way to insure clients' success .
Knowledge of the various methods of property evaluation and how both appraiser and lending institutions look at these values will help determine a price for either selling or buying Commercial property.
Buyer and sellers have their own objectives in this evaluation. Understanding potential gross income, lost and vacancy rates, NOI , income expense ratios and loan-to-value percentages all influence sale and purchase prices for commercial properties. Gene Artusa understands these parameters and how they could affect your commercial property.