Anyone who has ever purchased a commercial property knows how hefty an expense that can be. The hope is that the purchase is an investment and that there will be a good return on it. It’s tough to get a good return on your investment if the property isn’t in good condition, however. That’s where a commercial inspection comes into play. Some of what gets inspected might surprise you a little though.
Your Parking Area
Unless the property is located in a place that is extremely friendly to public transit or walking, you’re going to find yourself in need of a quality parking area. That could mean a simple parking lot or a whole parking structure. Either way, it needs to be in good condition. Otherwise you’ll have a hard time getting customers to come close enough to visit. Some problems may be immediately obvious just by looking at the parking area. Unless you know what you’re looking for specifically, however, you might miss some of the things an inspector would look for.
Businesses are required to make reasonable accommodations for those with disabilities. While that does allow for some leeway in interpretation, accessibility is generally going to be a sticking point. If you own the property, you’ll be responsible for making any necessary adjustments to the building to be in compliance. That can take a fair bit of time and money, so if the inspection indicates that the property isn’t complying with ADA regulations, you might want to move on to a different one.
Commercial properties usually make money by being rented out. Depending on the property, your tenants could be residents or businesses themselves. Either way, tenants sometimes make improvements to the property, or at least what they think are improvements. Sometimes they work, but other times they don’t. Commercial property inspectors will investigate tenant improvements to see if there are building code violations, to inspect the quality of the work, and to look for improper maintenance or inadequate design.
You can expect to have the building’s plumbing, electrical work, HVAC system, roofing, and structural integrity inspected. Commercial property inspections go well beyond that though. As the property owner, it’s a very good thing. You stand the best chance of the property being a sound investment if it’s in good condition. Make sure you have an inspection done before you close the deal to avoid being stuck with a property that has serious problems.
Getting ready to buy a commercial property? Let us handle the commercial inspection for you so you can feel confident about purchasing the property.