How to Best Prepare Your Commercial Property for Sale

For a commercial property owner, selling a property— an office building, retail space, industrial warehouse, or any other type of commercial real estate—can be a true lesson in patience. On average, it can take one to two years for a commercial property to sell from start to finish. Many factors influence how quickly a property will sell; however, there are some simple enhancements an owner can make to a commercial property that can help speed along the sales process and sell the property for the best possible price.

• Clean—inside and out.

Property owners skip this step more often than you would think. Not only will an unclean space be visually unattractive to potential buyers, but businesses typically want the ability to move into a space quickly and easily without having to worry about cleaning up another business’ mess first. This adds additional expense for the buyer and delays them from conducting business at their new location.

• Paint.

Light, neutral colours typically work best in order for potential buyers to easily visualize their own business within the space. A strong colour that “makes a statement” may not necessarily align with the statement the potential buyer would like to make for itself in the space.

• Landscape.

One thing that highly influences the perceived value of any property, especially a commercial property, is its curb appeal—the attractiveness of the property’s exterior as seen from the street. No need to build a botanical garden or invest a lot of money here, but tidying up existing foliage and adding a few woodchips can be very beneficial.
​

• Repair the parking lot.

A big contributor to a commercial property’s curb appeal is its parking lot. Putting a fresh coat of paint on parking lot lines and making a few repairs to holes and cracks can work wonders for a lot. If your lot requires a lot of repairs, think about repaving it completely as a large amount of repaired potholes and cracks, although improving the functionality of the lot, can look tacky.
​

• Consider staging.

Although commercial real estate is typically shown vacant to easily showcase a space’s size and layout, properties that are more difficult to sell or are in areas with unique zoning requirements might benefit from some furniture, artwork, simulated computers, and other items presented in a way that would appeal to the types of businesses you are trying to target. Some of the companies that do home staging for residential real estate also do staging for commercial properties, so it might be worth looking into if your property has been on the market for a long time.
 
Most, if not all, of the items listed above come with some sort of financial investment, so it is always best to discuss preparations specific to your business with a Commercial REALTOR® first before making any final preparation decisions for your commercial property.
 
About CDW & Associates – RE/MAX Little Oak Realty, RE/MAX Commercial Real Estate
For over 26 years, Commercial REALTOR® Charles D. Wiebe and his team of associates have worked almost exclusively in the investment, commercial and industrial real estate market, providing the Fraser Valley of BC with industry-leading commercial real estate services. Connect with Charles and his team by clicking here.
 
References
Home Staging. "Commercial Property Staging." Web. 2 Nov. 2015. www.home-staging-home-stager.com/commercial-property-staging.html
​
Tapp, Nicole. "Commercial Property In Real Estate Videos." SmartShoot 2015. Web. 2 Nov. 2015. www.smartshoot.com/blog/commercial-property-real-estate-videos