Although commercial properties are abundantly available in different parts of Gurgaon, you should choose to purchase one, only after evaluating its value. Read on to know more about the determining factors of a commercial property for sale.
Gurgaon is one of the favored destination for commercial real estate developers. Among the various commercial projects, Vatika INXT’s One India Next is one of the highly sough-after commercial projects in the millennium city. However, if you are willing to buy a commercial property in Gurgaon, the first thing you need to do is, determine the value of the property. You can ask your property owner to provide you with the profit and loss statement of the property for sale. There are simple formulas that you can use to decide whether a particular office space in Gurgaon will be a profitable option for you or not.
Calculate the net operating income the property generates each year: You can figure out the worth of an office space for rent in Gurgaon on the basis of the amount of net operating income that the property derives each year. Remember, with each additional profit on annual income, the value of your property will get increased by a good margin. However, the value also depends on the location and condition of the property. It is to be noted that you can get extra net income from your property by efficiently reducing the maintenance expenses.
Check the rent roll: You can ask for the rent roll in order to verify the income of a commercial property. The rent roll can help you understand the renting purpose of a commercial property as well as the total income generated from the property. Ensure that the owner or broker of the commercial property provides you with the actual rent roll. It is likely that they may try to give you a fake rent roll instead of the actual rent roll just for selling the property.
Make use of escape clauses to avoid risk: This is perhaps the best way to avoid loss if you have any doubt regarding the benefit from the retail space for sale. Try to make a purchase contract that allows you a time-period to close the deal if you are not satisfied. You can take the property on rent for a minimum period of 2-3 months so that you can have time to accurately determine its actual value.
Let’s have a look at the three factors that will help you determine the value for your commercial property.
Many real estate companies working on behalf of property owners are capable of providing some very problematic properties on rent. You may realize the mistake you made in selecting a property, once its too late and you cannot do much about it. This blog discusses some tips that you should keep in mind while looking for a commercial office space or an office retail space on rent.
* Be aware of the prevailing conditions: Don’t be ignorant of the current market trends and the different types of commercial office spaces that are available on rent. There are some things about such spaces that you need to keep in mind. You have to be aware the past tenants and why they left, the rent of this property as well as the existing rents on similar properties in identical locations. When you are attentive of all these factors, it becomes easy to choose a property that will prove to be really good for your business.
* Location: While looking for commercial properties for rent, there are many people who would ignore the location factor. But, this is a critical mistake as location is one of the most important things, which needs to be considered while selecting a commercial property for rent. The main reason for its importance is that the success of your business will depend on the location where you decide to have your office or retail space. If the location is well connected, safe and is in a peaceful neighborhood, it will be good for your customers as well as your business. If you take an office space for rent in Gurgaon, it will meet all your requirements in terms of a good location. You need to ensure that your clients and customers get complete convenience and comfort when they visit your premises. Thus, make sure that you check out the location very carefully while selecting a property.
* Check the property carefully: Thoroughly check the property which you are looking to hire. You should check factors such as space of the property, ventilation and other issues related to a property. Also check emergency issues such as draining system, otherwise you might have to spend a lot later on on repairs and renewals. It is recommended that you choose a property which meets all your requirements and you do not have to spend extra money later on to make changes to the property. One India Next, located on NH-8 Gurgaon, offers vibrant commercial spaces in a prime location in Sector 82A.