The High Country of North Carolina (Watuaga County, Ashe County, and Avery County) welcomes hundreds of thousands of tourists every year. Tourism plays a massive role in the local economies of western North Carolina, and savvy commercial real estate investors are starting to pay attention to these quaint mountain towns.
Commercial real estate investors and business owners alike are on the hunt for retail space for lease in the NC Mountains. With Appalachian State’s nearly 20,000 students and the tourists that flock to the area each year, business owners are in need of prime retail space to capitalize on this economic opportunity.
Why Lease Retail Space
We’ll approach this question, “why lease retail space” from two points of view: that of the business owner and that of the property owner. Let’s start with the business owner.
As a business owner, you have to always keep in mind of your overhead and continuously work your tail off to turn a profit. Often for small businesses, like those found in the Mountains of North Carolina, this means that buying or building a retail space specifically for your business is simply out of the question as costs would exponentially increase. Not to mention, a business would need to stay in business for a few dozen years in order to earn back what it will likely spend on construction of a stand-alone building. So, the best option for many business owners is to find retail space to lease in the High Country. The cost to lease a space is much less and the business isn’t confined to one area (should unexpected growth happen and a bigger space needed) for an extended period of time.
As a building owner, the best way to earn income is to lease the space within your building. This helps generate passive income over a long period of time, as retail spaces for lease are often signed with several years intention of remaining in the space. As a landlord, you can negotiate in good faith with tenants on who takes responsibility for upkeep, utilities, etc. while also making sure that you are generating enough income to cover your costs.
When to Work with an Agent
There will come a time for both a landlord and a prospective tenant when they will want to use the services of an experienced commercial real estate agent. For business owners, they will want to work with an agent to help find a property, the ideal property for their business at the right price. For the landlord or building owners, working with an experienced local commercial real estate agent will allow them to target the appropriate audience and all but guarantee the retail space for lease is filled promptly.
Wright Properties: NC Mountains Real Estate Agent
Wright Properties has over 40 years experience helping our clients find, buy/sell, and secure their commercial real estate investment. Our time has the talent, expertise, and knowledge to help you find the best retail space for lease in Boone, Blowing Rock, Banner Elk, the Jeffersons, and more. To learn more about our commercial real estate services, contact us today or fill out the form on this page.