3 Simple Ways to Increase the Value of a Commercial Plot

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Some people may want to increase the value of their property so they can get more from a sale, attract more tenants, or charge more for rent. The only issue here is that many of them don’t know where to start or know which changes will bring the most dividends. 

The last thing you want to do is pour thousands of dollars into a project only for your property to become even less desirable and valuable. This is something that unfortunately happens to many business owners, and something you need to avoid at all costs. Let’s take a look at a few simple and efficient ways to increase the value of commercial real estate.

Resurface or Redo Your Driveway

A lot of business owners neglect their driveways even if they’re starting to fade or show cracks. This is all fine and good if you have no intention of selling and the driveway is still generally in good condition, but these are things that will significantly reduce the perceived value of your property. Curb appeal is very important, and the quality of the driveway is one of the biggest contributors to it when it comes to commercial property.

So, if it has been a while since work has been done on your parking lot or driveway, it would be a good idea to consider either resurfacing or repaving it completely. If you’re looking for a team that will be able to tell you exactly what needs to be done and can perform virtually any type of concrete work, you should check out this site: https://www.keflatwork.com/commercial-concrete-services/.

Redo the Facade

Another thing you should do if you want to increase curb appeal is take a long hard look at your facade and landscaping and see if you can make any changes. You may assume that everything is fine, but an outdated facade will send red flags flying, even if you’re in an industrial area. So, check what other buildings in your area look like, and if yours doesn’t seem up to par, look at what they’re doing and see if you can replicate some of their design choices.

Things like functional and decorative lighting, for instance, can make a world of difference without costing too much. Changing or adding flower beds and evergreens can also help freshen up the facade on the cheap. Look at different low-cost options and see the ones that will give you the best return.

Reconfigure Floor Space

A lot of businesses also have lots of free space that they’re not using because their floor is not properly configured. It would be a good idea to walk around your shop floor and see if you notice any gaps. Another thing you could do is hire a warehousing optimization consultant. These people will be able to see where you can maximize your space and make subdivisions. This will then allow you to attract additional tenants and it will show buyers the true potential of the space.

All of these things should help you extract maximum value from your property whether you’re trying to entice tenants or make a sale. Don’t be afraid to make changes but be very careful with your spending and consider speaking with an agent to make sure that the modifications you make are in line with your market.

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