A Landlord needs a real estate professional to assist in selecting the Tenant for the property as well as placing the commercial or industrial property for lease on the market.
Leasing a commercial real estate property requires a lot of research and planning as well as a lot of leg work in finding the right business to occupy the space. Target Realty Corp. will do all the work – while you continue to run your day-to-day operations.
but first – we need to established the lease rate.
Unlike sales statistics, there is no need to report commercial lease rates within our industry. Lease rates are not public information. We gather our information within our brokerage and from our industry contacts.
We look at the current net asking rates, the comparable deals completed in the last year, and trends for comparable land and building size range, function, and location.
We take into consideration the specifics of your location:
· transportation and bus routes;
· age and quality
· construction of the building
· offsite improvement
· site specifics
· business neighbours;
· environmental concerns.
These factors used to value the properties and conversion of that value into a market lease rates involved the following:
· Land Value
· Building Value
· Building Features Value
· Market Comparables
· Market Capitalization Rates
· Today’s Comparable
This is why it’s important for landlords to have proper representation to maximize their investments.
A commercial real estate agent will determine an Opinion of Lease Rate based on the above method and come up with an acceptable lease rate to offer on the available space.