The term commercial property or commercial real estate refers to buildings or land that are intended to generate profit.
There are a number of reasons the purchase of commercial property can be beneficial to a small business owner.
These benefits range from tax advantages to building long term equity. In the following discussion we will outline a few reasons why purchasing commercial real estate is a great idea!
With the purchase of your own commercial real estate comes the benefit of knowing your exact month to month cost when it comes to your fixed-rate loan. With a rental property, you don’t have control over changes in monthly rate which could end up hurting your small business over time.
The purchase of commercial property can result in more money in your pocket when it comes time to pay taxes. These advantages may come in the form of deductions for mortgage interest or property tax. A professional accountant will be able to help you identify specific opportunities for tax savings.
Conducting business from a leased space has its benefits, but there also limits of how you can affect the physical space. If you own the commercial property you work from, than you can renovate and improve your space as you wish, which may be necessary as your business grows.
When you purchase commercial property you can easily show off your company’s brand to the community. Owned property even offers the opportunity to advertise contact information with great signage.
If you think it is time to make an investment in your small business and to purchase commercial property, contact Transworld Commercial Real Estate.
Rachael Holstein is the Marketing Manager for Transworld Commercial Real Estate. Her work experience has been largely focused on business development and marketing in business brokerage, finance, architecture, property management, and information technology. A long time resident of Cleveland, Ohio, she attained her undergrad from John Carroll University and her Master’s Degree from Cleveland State University. In 2013, she relocated to Denver with her husband, Joe, and her furry companions to explore the mile high lifestyle!