When you are shopping around for business property, you can find yourself really confused by all the terms and ideas you encounter. In most cases, your experience with commercial property has been rather limited, so staring at words you don't understand in contracts and advertisements can really throw you for a loop. It's important to conquer these terms as a way of making a better-informed decision.
One of the things you see a lot when looking at commercial property is classification grades. You see Class A, Class B and Class C properties. While this might not mean anything to you at a glance, the truth is that the differences between these are important, not only in where to start your search, but also how much you should expect to pay to rent the property. Here is a break down on the difference between these three grades.
Class A
These are generally the highest quality building in their area. In some areas, these include buildings that were constructed after 1980 and are over 100,000 square feet. They usually are ready for business and have the appropriate amenities. They are often part of a defined and accessible location. They require the highest rent and might be selective about the businesses they rent to, more so than a B or C class commercial property.
Class B
These buildings are almost always found in a good location. You'll find Class B properties in a safe neighborhood where there are good property values. They are buildings that might have been renovated in the last few years. These buildings are popular for those interested in buying buildings. They can often be renovated to Grade A status. The rent on these is of a lower grade and business owners can often lease them at a very fair price.
Class C
These buildings are the bargain basement buy of the industry. They tend to be in lower income areas and are often not well kept or renovated. They are older buildings and can vary in size. These are often the buildings of choice for newer businesses that are just starting off, because they're on a limited income. They are for businesses where location doesn't matter much.
It's important to note that building and property grades can change from market to market. There is no specific and universal standard for grading buildings. So while something might be an A grade in your city, it might be a B or C grade in a place like Manhattan. While these grades may change, the basic spirit of these classifications remains.
Again, these are just the generalities for these buildings. They may vary from market to market. It's best that you take into account the property values of these areas when determining what a fair rent for the building is.
Ahmed A. Assaf, Broker
Excel Commercial Inc.
Direct (780) 940-5707
Fax 1-866-858-8664
www.excelcommercial.ca
twitter @ExcelCommercial
Suite 508 Oxford Tower
10235-101 St NW
Edmonton, AB T5J 3E8
Find out more from the Business Property website.
One of the things you see a lot when looking at commercial property is classification grades. You see Class A, Class B and Class C properties. While this might not mean anything to you at a glance, the truth is that the differences between these are important, not only in where to start your search, but also how much you should expect to pay to rent the property. Here is a break down on the difference between these three grades.
Class A
These are generally the highest quality building in their area. In some areas, these include buildings that were constructed after 1980 and are over 100,000 square feet. They usually are ready for business and have the appropriate amenities. They are often part of a defined and accessible location. They require the highest rent and might be selective about the businesses they rent to, more so than a B or C class commercial property.
Class B
These buildings are almost always found in a good location. You'll find Class B properties in a safe neighborhood where there are good property values. They are buildings that might have been renovated in the last few years. These buildings are popular for those interested in buying buildings. They can often be renovated to Grade A status. The rent on these is of a lower grade and business owners can often lease them at a very fair price.
Class C
These buildings are the bargain basement buy of the industry. They tend to be in lower income areas and are often not well kept or renovated. They are older buildings and can vary in size. These are often the buildings of choice for newer businesses that are just starting off, because they're on a limited income. They are for businesses where location doesn't matter much.
It's important to note that building and property grades can change from market to market. There is no specific and universal standard for grading buildings. So while something might be an A grade in your city, it might be a B or C grade in a place like Manhattan. While these grades may change, the basic spirit of these classifications remains.
Again, these are just the generalities for these buildings. They may vary from market to market. It's best that you take into account the property values of these areas when determining what a fair rent for the building is.
At Excel Commercial Inc we strive to provide the best solutions for our clients Commercial Mortgage and Business Loan financing needs as well as residential mortgage and lines of credit for our Self Employed, Business Professional and Real Estate Investor clients.
As your mortgage broker we work for you, our client, and not the lender.
As your mortgage broker we work for you, our client, and not the lender.
Please contact me directly if you have any questions or require any additional information.
Sincerely,
Excel Commercial Inc.
Direct (780) 940-5707
Fax 1-866-858-8664
www.excelcommercial.ca
twitter @ExcelCommercial
Suite 508 Oxford Tower
10235-101 St NW
Edmonton, AB T5J 3E8
Find out more from the Business Property website.
John Baldoni is the CEO of BusinessProperty.Net, which is an online commercial real estate and investment property listings service. We offer agents, building owners, landlords, and property managers the ability to list their property for sale, lease, or rent. We offer affordable prices and aggressive marketing to allow agents and property owners to list commercial properties for sale or lease.
*Article Source: http://EzineArticles.com/?expert=John_Baldoni
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