Simpson
Real estate property is of many types. It can be residential, commercial, or industrial. Commercial properties refer to those buildings which are meant for profit-generating activities. For example, malls, garages, hotels, and retail stores are commercial properties.
From 2019 to 2021, there were 3,651 business registrations in Connecticut. In Connecticut, Danbury is home to several businesses, such as wholesale trade, accommodation, food services, retail trade, and waste management services. As a result, the demand for commercial spaces keeps increasing with each passing year.
As a business owner, you must be looking for commercial real estate for sale Danbury CT, to run your business operations. Even if you have an office space, the chances are that you might want a better one with more facilities, features, and convenience.
If you want to invest in a commercial property in Danbury, it is always advisable to hire a reliable real estate brokerage firm. However, before proceeding, there are some questions you should consider to make the right decision.
What type of commercial property do you offer?
Commercial property is an umbrella term encompassing several different real estate properties like retail, office, multifamily, hospitality, hotels, medical centers, and shopping centers.
While each of these has a particular kind of infrastructure to meet the requirements of a business, it might fulfill other purposes too. For example, if a commercial building runs as a tanning salon currently, it is possible to use it for medical, office, or retail purposes. In other words, you must be clear on your business and its requirements before selecting a commercial property and discuss with the agent the property and its possible usages.
What commercial district is it located in?
You must consider the commercial district of the property because each of them has specific uses, purpose and intent, and general use regulations. The zoning regulations laid down by the City of Danbury in Connecticut govern the usage of all commercial properties.
You can only run certain businesses in a particular district. According to the Danbury Regulations, districts are segregated into General, Arterial, Limited, Light Commercial, Neighborhood Commercial, Central Business, and Campus Research Park. So, if you want to open a banquet hall, laundromat, funeral home, hotel, or motel, you can only do so in the General and Arterial Commercial Districts.
How many square feet of space is available?
The amount of available free space in terms of square feet is another factor you might consider before deciding. Ideally, you must have enough space to run your business operations comfortably without congestion or inconvenience, especially if your business involves machinery.
It would be best to consider Danbury’s zoning regulations while buying a property because it defines the business type based on the square feet area. For example, a convenience market is a retail store with at least 3,000 square feet, while a junkyard is a space with at least 50 square feet.
What are the parking facilities?
Most of your employees will be driving to work. And even if they do not, you should have ample parking space for everybody’s convenience. Before proceeding, it would be helpful to ask your real estate agent if the building adheres to the parking rules set down by the zoning regulations of the City of Danbury.
For instance, the parking area should fulfill all the requirements in Section 8.C of the Regulations Manual. If the property has off-street parking, you must check if it allows safe access to spaces inside the parking lot.
What is the cost of the property?
It is essential to assess your budgetary limitations while deciding whether the specified amount justifies the property or not. The cost would usually depend on the facilities, location, property type, and the building’s age. You must also consider the features or facilities while analyzing the price and whether you think it is justified.
If you are looking for medical space, it should have features like multiple examination rooms, hallways, sufficient lighting, etc. If it is a two-story building, does it have elevators? Another thing you might consider checking is the city water, sewer, and gas provisions and whether they adhere to the sewage standards laid down by the Danbury Municipality or not.
How to find commercial real estate?
Hiring an experienced real estate brokerage firm in Danbury is the safest and most hassle-free way to find commercial real estate for sale. They will provide you with all the information you need, either online or in person.
If they have a website, you could visit that and check the property listing, features, prices, related information, and even customer reviews. A reliable firm will handle the negotiations, provide you with updated knowledge of the real estate market in Danbury, help you with the documentation, and manage all the transactions professionally.
Asking these questions will help you decide while buying commercial real estate for sale in Danbury, CT, and ensure you receive the best returns for your investment. Your real estate agent will provide you with the necessary information, helping you make an informed decision.
