Did you know that the value of commercial buildings has increased four times since 1993? This impressive statistic helps explain why many investors are considering turning toward commercial properties.
However, it’s important to remember that building a commercial property is usually anything but easy. That’s why we made this guide to help you.
In it, we’ll break down the rough strokes that go into planning, developing, and constructing a commercial building. That way, you can decide if you want to pursue it personally.
What Type of Commercial Building Do You Want?
If you have experience with commercial real estate investing, you likely know all about the different types of commercial buildings. However, if you don’t, you should familiarize yourself with them. Some of the typical commercial buildings include things like:
- Movie theaters
- And more
It’s important to remember that each type of commercial building has its own standards that must be followed. So do some research to decide which type of commercial building best fits your needs.
Find the Perfect Location
The location of your commercial building can play a significant factor in whether or not it’s a success or failure. You want the building close to whatever clientele will use it. However, this isn’t the only factor you should consider.
Accessibility is also important. You want to ensure that the building is close to public transportation. You should also inspect any sewer or water lines. If you need to replace or install these, the location will be expensive.
Lastly, consider the market price of the area. If you set up in an economically depressed area, there’s little chance of your building increasing in value. Check out our complete guide on what to look for when buying land.
Zoning Laws and Permits
All cities have zoning laws and required permits before a commercial building can even be considered. These laws can place limitations on your building. For example, it might not be able to exceed a certain height, or it might need to be a specific color.
Now zoning laws and permits vary widely from city to city. So make sure you do your research before you begin making extensive plans.
Want to avoid some of the top commercial real estate challenges that many companies face? Read this guide to find out how.
Hire an Architect
Your architect will be in charge of all the various designs and planning of the construction. As such, it’s pretty essential for you to work closely with the individual. Make sure they know exactly what you want out of the building.
For example, if you’re going to save energy through the installation of an energy efficiency upgrade, you should let them know your desires.
The same goes for any building-specific features. You might also want to consider hiring a construction management company to handle the details regarding finding and employing contractors.
Know the Different Stages of Construction
It doesn’t matter if your commercial building is complex or simple; you will need to follow the stages of construction. These stages include:
- Designs and planning
- Permit acquisition
Make sure you plan each of these stages carefully. You will need to work closely with a different team member at each step to make certain things are getting done correctly.
Get to Know Your Team
What is the difference between excellent commercial build construction and bad one? The quality of the teamwork. If a team is able to trust and communicate with each other, the entire building process will go a lot more smoothly.
At the very least, we recommended getting to know the people in charge, like the architect, project manager, and designer. However, it can also help to get to know the average construction worker there for the day-to-day tasks.
Make sure that every person on your team knows exactly what their role is. They also shouldn’t be afraid to come to you with obstacles they’ve encountered. As a team, you can figure out a solution together.
How Do You Make Building a Commercial Building Easier?
Those who want to make the commercial construction process easier should consider hiring Millman National Land Services. We have over twenty years of experience in the field, and during that time, we’ve become experts in the real estate development process.
We can help you with the ATLA surveys and zoning reports that will be necessary to complete your commercial building. That way, we free up your headspace to focus on the new building design and completion.
Want to learn more about how Millman National Land Services makes commercial development easy? Explore this page to learn more about our experienced team of surveyors, zoning analysts, lawyers, and field techs.
The Importance of Planning When Building a Commercial Building
It’s vital to remember that building a commercial building is a costly endeavor. Unfortunately, it can get even more expensive with a lack of planning. Unexpected roadblocks can sometimes completely stall construction.
And, if you’re on a delicate timetable, then every day you fall behind is more money lost. All of a sudden, you’re millions of dollars in debt to something that was supposed to be an investment.
That’s why it’s so important to plan every aspect down to the letter. However, unless you have experience with building properties, this isn’t something you’re going to want to do on your own. So consider reaching out to a professional for help.
They can assist with all the tiny details that can often make or break a new commercial building.
Related: Commercial Property Inspection Guide