Buying Commercial Property in MD by Industry
Investing in commercial real estate is a lot different than residential properties. After all, when you rent out a house, your tenants can oftentimes be your roommates or family members. This makes owning residential property more predictable and easy to navigate.
However, if you’re interested in buying commercial property in Maryland, you have many industries to consider. At Coakley Realty, our professionals have created this guide to help you learn about the most popular industries and which one can provide the biggest return for any investments you might be considering.
If you want to learn more about the best industries for commercial property in Maryland, call Coakley Realty at 301-340-8700 today!
Today’s medical office buildings are being built as community-based, one-stop shops for a variety of medical services. The standard setup of a central lobby surrounded by patient rooms and offices has transformed into a more complex arrangement reflecting the changing needs of today’s medical landscape. Investing in a medical office building could be the right decision for commercial property because:
- Vacancy rates are at their lowest since the recession.
- The need for medical facilities is expected to outpace the supply of new buildings in coming years.
- Even when the economy suffers, medical office buildings have proven to be recession-proof.
- With hospital lease renewal rates averaging 15 to 20 years, strong tenant retention is the norm.
Hotels & Motels
The hospitality industry continues to thrive since the country recovered from the recession. The nature of hotels—temporary stays at relatively high nightly prices—means they have the potential to provide a greater return on investment than buying an apartment building.
However, even in this lucrative industry, no investment provides a complete guarantee for success. Plus, you must remember that owning a hotel is only 50 percent real estate—the other half is operating a business. Therefore, be sure to team up with a knowledgeable property management company such as Coakley Realty to enjoy the results you want from buying a hotel or motel property in Maryland.
Some commercial property owners hesitate to invest in property in college towns because of the perceived risk. However, student housing is an excellent way to get into the higher education industry with plenty of room for reward.
Whether you want to rent out apartments near John Hopkins University in Baltimore, The University of Maryland in Columbia, or St. John’s College in Annapolis, consider these benefits of investing in student housing:
- You can charge rent on a per-tenant basis to increase the value of each unit.
- Turnover is frequent, but it occurs predictably at the end of each semester.
- Referrals come easily.
- It’s not necessarily required to invest in high-end fixtures, features, and appliances because students have lower expectations than more seasoned apartment dwellers. Many are living on their own for the first time and aren’t picky about their accommodations.
- As long as you maintain a presentable property near campus and market it properly with help from Coakley Realty, you can expect occupancy every semester.
In many areas throughout Maryland, the building boom is creating the opportunity to invest in preconstruction properties. If you want to diversify your portfolio, and you have long-term stability, investing in preconstruction could be very lucrative. Just remember, when buying into a project that isn’t complete yet, it could take years to see a return on investment. The top benefits of buying commercial property in the preconstruction phase include:
- The real estate is available at a fraction of its full value. In fact, the property may even appreciate before the project is finalized.
- Once complete, the building will feature the latest in materials and finishes to help you attract tenants.
Buying Commercial Property in Maryland by Industry
Whatever your preferred industry is, the real estate services from Coakley Realty are designed to help you secure the right commercial property in Maryland and make the most of your investment in the coming months and years. We’re here to make sure you find an investment that meets your lifestyle, budget, and ROI goals. Not only are we experts at buying and selling commercial real estate, but we can also provide:
- Commercial property management services
- Commercial real estate litigation support
- Help appealing commercial real estate taxes
- Leasing commercial properties
- And more!
When you need help buying commercial property by industry, Coakley Realty is the company for you. No one has a better understanding of the commercial real estate market in Maryland than we do. We’ll help you through every step of the buying process. Then, we’ll continue to provide the property management, litigation support, tax appeals, and other services you need.
Contact us online today or call now at 301-340-8700 for assistance finding the perfect commercial property in Maryland that’s the industry of your choice!
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