Location. Location. Location. Why Location is Key to a Successful Commercial Property
Don’t Rush Into Signing Your Commercial Lease; Make Sure to Think through All Aspects of the Location Before You Commit to a Commercial Rental
So you’re considering opening or expanding a business. It’s an exciting prospect! You have your great service or product lined up, you’ve secured the right funds to open your doors, and you have a plan for long-term success. Now all you need is a brick-and-mortar location so you can get to work! However, finding the right location is much easier said than done. Just like finding the right home, it takes time, multiple tours, and careful consideration before committing to a location. Fortunately, you don’t have to do it alone!
Lindner Properties is proud to serve clients in mid-Missouri and Destin, FL. Not only do we lease beautiful and well-maintained commercial properties, but we also help potential tenants find the perfect property for their needs. There’s no pressuring you into a space that doesn’t work for your business. Instead, you get an honest, patient, and knowledgeable commercial leasing expert who will work with you to secure a lease that aligns with your budget and business needs.
Ready to start property hunting? Find the absolute best location for your commercial business with help from Lindner Properties today!
Five questions to ask yourself before you lease a commercial property
Before you talk to a commercial leasing expert, it can be important to interview yourself about the type of business you want to open. Ask yourself the big questions about where you want to put your brick-and-mortar business and don’t forget details that may not affect you directly but will impact your customers and clients. Give your business the best chances of success when you ask yourself these five questions before you sign a commercial lease:
1. Can you afford to lease this location for one, three, or five years?
- If you’ve already gone through your finances and made a plan to set aside a certain amount for your commercial rent, you’re probably ready to move onto the next phase of the property hunt. However, if you haven’t considered inflation, rising utility costs, or increasing operating costs over the next five years, it’s time to revisit your financial plan. It may be helpful to sit down with a trusted financial advisor or business partner to see what you can realistically afford based on a one, three, or five-year lease. These lease lengths are very common in commercial real estate.
2. Is the location you want zoned for your type of business?
- Thanks to local zoning laws, you can’t just open a business anywhere. You have to follow community codes and only operate where it is legal for you to do so. In Columbia, MO, where Lindner Properties is based, there are seven types of zoned districts. You can learn more about those in our blog, Questions To Ask Your Commercial Realtor Before Signing A Lease. Check it out and contact Lindner Properties if you have questions about how a property is zoned and if it can be rezoned for your use.
3. Will foot traffic matter to the success of your business?
- If you plan to open a retail store or restaurant, foot traffic could play a big role in the success of your business. If it’s easily walkable and in close proximity to other shops, customers will be happy to visit your store or restaurant while already in the area. The area should also be safe enough for people to walk to. This should include sidewalks, highly-visible crosswalks, and plenty of lighting. A location may technically be walkable, but if the area is known for pedestrian accidents or is not close to other businesses a customer could visit, the location will not be considered walkable by most patrons.
4. Is there enough parking near the commercial property you want to rent?
- For businesses that don’t rely so heavily on foot traffic, having ample and nearby parking is important. Not only should your customer be able to find a parking spot easily, but it should also be within walking distance of your business. No one wants to hike across town just to get from their parking spot to your business. Consider the parking around the property you’re interested in renting before you sign the commercial lease.
5. Does the neighborhood you’re interested in opening a business in have a good reputation?
- Not all neighborhoods have a shining reputation you can rely on for the success of your business. Some neighborhoods are known to have higher rates of crime or reputations for rowdy crowds. For example, if a nearby bar produces loud or disruptive patrons, you could find yourself dealing with fearful customers or even dirty public areas thanks to trash or debris left behind. Don’t take a chance on a neighborhood with a rough reputation. Instead, lease a property in an area that suits your wants and needs.
Choosing the best commercial rental property location for your business will depend on traffic flow and
Once you’ve found a location that works for customers, ask yourself if the location will work for you and your employees. Will the drive be easy for you each day? Will your employees have an easy time getting to and from work? If you have to regularly deal with heavy traffic getting to and from your new office, shop, or service center, it can start to become frustrating for everyone. To avoid problems like this, visit potential commercial rental properties at different times of day. See what the morning traffic flow is like, take note of lunchtime surges, and don’t forget to monitor the 5 pm rush hour traffic. You should also take stock of how many customers of other businesses visit the area during these times. Sometimes places that are grocery-anchored or focused on retail won’t pick up until after 5 pm on weekdays, and if your business hours won’t align with this, it’s time to consider other locations.
Do you need more data on the area you’re interested in renting? Ask Lindner Properties all your questions, big and small, about commercial real estate in Columbia, Jefferson City, and Sedalia, MO. We can give you a valuable breakdown of the traffic to our rental properties in the area. Give us a call to learn more.
Don’t forget to think about the future of your business when you rent commercial property in mid-Missouri
Before you ever open your doors, it can be tough to think beyond the next few years, let alone next week. However, business owners must be forward-thinking if they want to succeed. Planning for the future of your business should always include where you sign your commercial lease.
The location of your business may keep the same address, but the area around the property can change. Depending on the lifecycle of the neighborhood, businesses may be flocking to the area, or they may be fleeing. If it seems like a lot of properties in the area have been vacant for a while, it may be a dead neighborhood without the foot or vehicle traffic to keep a business afloat. On the other end of the spectrum, if businesses are competing to sign leases and open their doors in an area, it’s a good sign!
With each option come pros and cons. Less popular neighborhoods and shopping areas may offer cheaper rent, but it’s for a reason. Property managers will decrease the cost of rent when businesses can’t succeed in those spaces. Be mindful of this before signing an unbelievably cheap commercial lease. If you fall in love with a prime location, make sure you have a good tenant representative or commercial real estate attorney who can help you negotiate a good lease on your terms.
No matter where you want to sign, Lindner Properties Certified Leasing Specialists can help you sign a lease that meets your business needs today, tomorrow, and years down the line.
Make sure the demographics of the community around a commercial rental property in mid-Missouri align with your target market before signing your commercial lease
Just because there are people living around where you want to set up your business, this doesn’t mean they are your target audience. Opening a women’s boutique for teens and young adults may work in a high-traffic shopping center, but a grocery-anchored shop in a neighborhood of older families and retirees won’t work. Don’t sign a commercial lease agreement until you’ve done your research on the demographics of the neighborhood. Look into the age and gender of those within a five-mile radius, as well as income and education. These details will seriously impact your business success and change who visits you. While this may not apply to service-based businesses who do their work in clients' homes, it is incredibly important for stores, restaurants, and in-office service providers.
You can find data like this online from the U.S. Census, or you can call Lindner Properties to learn about the neighborhoods we serve every day. We’ve leased commercial properties in Columbia, MO since 1980, and we know a thing or two (or a whole lot more) about the communities that have built up around our commercial properties. Give us a call to learn about the specifics of the properties we have available. We’ll help you find the right location to serve your target audience.
Lindner Properties Will Help You Find the Best Location for Your Business in Mid-Missouri. Search for Commercial Real Estate With Our Experienced Team of Rental Experts
Location? Location? Location? Lindner. Lindner. Lindner. We are the local experts in Columbia, Jefferson City, and Sedalia, MO, as well as in Destin, FL. Our commercial properties available for rent are modern, clean, and perfectly located for any business you wish to open. From medical offices to retail shops to restaurants, we can put you in the right commercial rental property without hassle or stress. To begin your search for the perfect commercial property, contact us today. Lindner Properties is the top commercial real estate company in mid-Missouri, and we serve our clients with passion and an unwavering commitment to their success.
