Achieving successful curb appeal for your commercial property that’s “up for sale,” can be simpler than it might seem. Sometimes, it’s just about labor, paint and minor repairs. But, all the time, it’s about the simple fact that you only have one chance to make a first impression!
When the problems are basically cosmetic, that is one challenge; if the problem goes deeper, it may become an issue of sensibly enhancing the overall sale value with a face-lift and some needed renovation. Simple or more involved, your initial presentation to Buyers can make or break a prospect’s interest in your commercial property.
More important, is the simple fact that improving your property’s curb appeal adds definite, measurable value! Whether it’s $500 for minor issues, or several thousand dollars to really make the difference, that investment will be a smart move.
Your Commercial Realtor should have experience that he or she will draw upon to give you important advice and guidance for achieving the curb appeal your property lacks. There is no doubt that it is an important factor when you and your realtor establish your reasonable, achievable asking price. Together, those factors need to relate to everything from your immediate surroundings to the realistic real estate activity of the broader region.
To begin with, let’s look at location and the impact the surroundings of your commercial property may have on its salability. There are buyers out there who are looking for property to quickly fix-up and flip for a profit on their clean-up money and time. In that case, curb appeal is not such a central issue.
However, other buyers want property in good condition that will immediately bring them returns on their investment. Are there existing tenants in good standing? Will their purchase give them stability and continuity as a rental property or an operational retail enterprise? Curb appeal can influence their impressions as much as the financial review, because it’s one indicator concerning tenant pride and turnover.
So, what’s on the simple To Do List? Are there employees? Coach them into better personal presentation and efficiency. (A successful sale is related to their job security.) Clear, clean and repair the windows to provide a long view into the property. Clean up external landscape (large or small) by removing weeds and debris. Paint, and repair small problems. Is your signage appropriate and in good condition? A little effort goes a long way toward perceived value.
Recognizing the situation of neighboring properties is also a factor to be considered when deciding to sell, and establishing your sell price. Their condition can directly affect a buyer’s thinking about your property. You may be discouraged because your property is located in a deteriorating environment. Worrying about curb appeal may seem redundant. What can you do to maximize your value with such a handicap?
Your commercial realtor knows what direction your area may be trending. There could be overall improvement on the way for the region.
Improving the presentation of your property could influence your neighboring properties and increase your sale potential.
When looked at from the “can’t hurt, might help” point of view, investment in improvement can only make the picture better. Discuss this aspect thoroughly with your realtor who knows from experience that first impressions only happen once!
In my next column I will be discussing how we determine the value of your commercial property, what considerations influence that determination, and what factors help (or handicap) achieving top dollar.