Are You Considering Purchasing Commercial Office Space?

By Dan Huntington

If you are considering purchasing commercial office space, there are a number of things you will want to consider.

First of all, surround yourself with a great team

According to Inc.com, “As a small business owner, you're most likely not a commercial real estate expert. That's why it's important to surround yourself with the right team of experts. They can help you determine the right time to buy or sell, the right locations to consider, and the nuts and bolts of closing the deal. Here are some of the experts you may consider contacting:

• Accountant. An accountant can help you figure out what your business can afford and analyze the tax and operating budget benefits.
• Lawyer. A lawyer can help you complete the transaction, negotiating with the seller and lender on your behalf.
• Commercial broker. A real estate broker can help you identify potential properties and what you can afford.
• Mortgage broker. A lender or mortgage broker will help you sort through financing options, from bank loans to those guaranteed by the U.S. Small Business Administration, such as the Certified Development Company (CDC) 504 Program, used to finance primarily real estate or equipment”

Then, Identify the RIGHT Property…Consider the Location, Physical condition, Allowable uses, Limitations on exterior and interior, Adequacy of access and parking, Opportunity for expansion or leasing, and Physical condition (Inc.com).

This is one example of the many listings CERRON Commercial Properties has available for purchase. This property is now available for Sale – buy the entire property or one of three (3) office condos available.

2430, 2434, 2438 117th Street East, Burnsville, MN 55337

To read the entire Inc.com article, go to: http://www.inc.com/guides/2010/07/how-to-purchase-commercial-real-estate.html