Commercial real estate might be the right option if you’re looking for a great potential investment idea this year. Commercial real estate is any property used to generate income or for a business. This means that if you buy a house and rent it out, that is commercial real estate, but so is the office building you use for your business or the retail center you rent out to a store. You might venture into several different types of companies if you consider investing in commercial real estate.
Coffee Shop Or Other Retail
If you’re looking for an increasingly popular business opportunity, the coffee shop is probably it. Even with the abundance of well-known-brand coffee shops worldwide, small independent shops are also trendy and might make a good choice as a tenant. Of course, as a commercial real estate owner, you could also attract a prominent brand as a tenant.
If you are worried about being locked into something by committing to retail or food service space, flex space might be your best bet. Flex space is a lightly zoned space that can be used for retail, industrial, or office space. It is an excellent choice for a new small or medium-sized business that needs to have all three types of space in one location.
Co-working space has become hugely popular for people who have become remote employees but do occasionally need to work from somewhere other than their home. Turning your commercial real estate into a co-working space can be a great way to take advantage of this trend and jump on this potential income source.
Storage units are also a very profitable way to use commercial retail space. Many people have taken to renting these storage units to store stuff they don’t need in their homes daily. Storage units are also helpful for businesses that need to keep things seasonally or for property left over from offices that downsized to smaller spaces during the pandemic.
Living Space Rentals
Finally, residential units are always in-demand. If you’re looking for a revenue-generating idea for commercial property, renting a house or apartment building is a great choice.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
Suppose you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your home purchase. In that case, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, development, and consulting, contact us online or call us at 301-665-6009. Follow us on Facebook, Twitter, and Pinterest to meet our team and see some of our beautiful homes.