Bernstein & Feldman, P.A.

Providing Personal Counsel
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30 Years

Advice on buying commercial property

While many Maryland entrepreneurs prefer renting a property for their business, there are many benefits, such as greater freedom and flexibility, to purchasing land or building a brand-new facility. However, potential business owners may wish to consider some financial and legal aspects prior to buying a commercial property.

Business owners who are thinking of purchasing land where they can construct their facility should consider an important factor: the location. Commercial properties that are located in prime areas not only get more exposure, they tend to sell better than those that are located in obscure areas, which is an added benefit to owners who want to sell the business one day.

It can also be helpful if owners perform a detailed market analysis prior to purchasing a piece of property for their business. Doing so will reveal if the property's market value is likely to increase or decrease as the business operations grow, which will ensure that the owner can sell it at a higher price to a future buyer. Making sure the land is zoned for commercial use is another important matter for a business owner to keep in mind. Companies that are experiencing growth might consider purchasing a property big enough to accommodate their needs. It might be a good idea to purchase a property in close proximity to a large building that can be rented as well.

Purchasing commercial real estate is generally fraught with various issues, including financing, zoning issues and deed restrictions. An experienced attorney could assist with these matters as well as ensure that the documents do not contain any provisions that could prove to be a problem in the future.

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