Wright Properties NC has over 40 years of experience in residential and commercial real estate. When you invest in commercial real estate you want an experienced real estate agency standing behind to ensure that you are getting the best treatment during the process. Commercial property, also called commercial real estate, investment property, or income property, is real estate intended to generate a profit, either from capital gains or rental income. Commercial properties typically have an annual return of the purchase price between 6% and 12%, depending on the area, current economy, and external factors (such as a pandemic). That’s a much higher range than ordinarily exists for single-family home properties (1% to 4% at best). There is a lot of profit to make off Commercial property in the Blue Ridge Mountains. The benefits of commercial real estate are endless. Purchasing any type of real estate in the blue ridge area is going to be a wise investment that you will not regret making. If your vision is an apartment complex, shopping center, or a smaller venue you will have success in these high tourist areas of the high country.
The best reason to invest in commercial over residential rentals is the earning potential. Commercial properties typically have an annual return of the purchase price between 6% and 12%, depending on the area, current economy, and external factors (such as a pandemic). That’s a much higher range than ordinarily exists for single-family home properties (1% to 4% at best). Retail tenants have a vested interest in maintaining their store and storefront because if they don’t, it will affect their business. As a result, commercial tenants and property owner interests are aligned. Businesses usually go home at night, which means you work when you want to work. It’s often easier to evaluate the prices of commercial property than residential because you can request the current owner’s income statement and determine what the price should be based on that. Fewer consumer protection laws govern commercial leases, unlike the dozens of state laws, such as security deposit limits and termination rules, that cover residential real estate.
Wright Properties NC; Commercial Real Estate
Wright Properties NC is a premier real estate agency in the high country. If you see a commercial real estate property you are interested in and you would like to view contact us. We look forward to hearing from you.