February 16, 2018
Whether you’re a new business looking for premises to start your new venture, or you need something larger, smaller or different to fit your commercial property needs, it can be helpful to understand what your options are. Whatever your needs may be, however, you’re sure to be pleased by how strong the commercial property market in Denver is looking. In fact, there’s no time like the present to either invest, buy, sell, or lease while the price is right.
What Are My Options?
When it comes to either investment, buying, selling, or leasing, the options are aplenty. Depending on what you require, you are sure to find a substantial amount of commercial property in Denver that will suit your needs to a tee.
Office space and retail:
Commercial property in Denver is vast, but two of the more popular options for anyone looking to lease, buy, or invest, is office space and retail. There are several different office condos, retail stores and entire commercial office buildings on the market, both for sale and for lease. To review your options, get in touch with a commercial property expert who can help walk you through the process.
If there’s one thing Denver is known for, it’s recovering stronger than ever before following on from the recession. Thanks to jobs created in the likes of industrial warehouses, job growth was up 16.9 percent over five years, with the seventh-largest increase in the country. Therefore, there has never been a better time to expand your business, and look at industrial warehouses to do so.
Land, while a lucrative investment, takes a lot of planning. It’s always a good idea to contact a Denver commercial property expert when you’re looking to sell farmland to developers, buy or sell a ranch, or even if you’re thinking of developing land yourself.
Buying Commercial Property in Denver
When you decide to buy commercial property in Denver, it’s important to know how profitable the investment is going to be. However, as a whole, Denver commercial real estate is a long-term asset that holds its value very well. You can benefit from building equity on a monthly basis, the genuine advantage of asset appreciation, rental potential, and of course, tax benefits.
When you buy commercial real estate, you can deduct interest expenses, depreciation expenses, and non-mortgage related expenses. These can be welcomed savings. One of the most significant benefits, too, is the thought of controlling your own property. Instead of dealing with rent negotiations on a yearly basis, you can sit comfortably on the knowledge that you own the building, and will continue to pay the same monthly costs for the entirety of your ownership period.
Benefits of Leasing Commercial Property in Denver
Not everyone is in a position to buy commercial property, but luckily several commercial property owners are looking to lease theirs out. For the average business owner, there is certainly no lack of properties to choose from, and leasing comes with its own benefits, as well. One of the main perks of leasing rather than buying is fewer upfront expenses. When buying, the costs can be high, but leasing only brings about fees such as those from attorneys, brokers, a security deposit and a pre-lease inspection.
Tax benefits can also be in your favor, just as they would be if you were to buy Denver commercial property. You can deduct costs such as lease payments, property taxes, property insurance, maintenance, and utilities, all the while benefiting from a flexible lease term as well. If you decide to upsize, downsize, or relocate, it’s far easier to do so when you’re a tenant rather than an owner.
The Denver property market can only improve on the successes of last year, so if you’re looking to lease, buy, or invest, get in touch with a commercial property expert in Denver who can point you in the direction of the perfect property for you.