Should I Buy or Lease My Commercial Property Space in Melbourne FL?

Investment property values in Melbourne, FL are appreciating in value which is encouraging many business owners to explore if now is the time to buy their commercial property space. This isn’t a decision that’s made lightly. There are several crucial considerations to weigh before you invest in a property. Your local real estate broker will help you weigh the factors on whether you should buy or lease your commercial property space.

Ask Yourself these Questions When you Consider Buying vs. Leasing

Am I ready to be a landlord?

Depending on the location of your business you may need to consider purchasing a building currently occupied by several tenants. Being your own landlord builds your equity. You have the additional benefit of not having to pay the entire mortgage yourself.

Property ownership also gives you more control over your building’s security and maintenance, as well as a fixed mortgage each year, rather than raising rents and contract renegotiations for your company.

Am I in the best location for my business?

Location is key for many businesses maintaining or growing their client base. Numerous moves, due to unrenewed leases or raised rents can be costly; especially for a business that uses heavy machinery or fixtures that are difficult to move. If you are ready to settle into a permanent location, in Melbourne FL, buying commercial property space may be best.

Do I have the business capital to purchase commercial property?

Being an established business is a compelling factor in buying commercial property. Investing capital in a new or growing business, rather than the property, may be more profitable. Conversely, an established business has more capital to sustain additional expenses that are associated with commercial property ownership.

Can I sustain the liability of commercial property ownership?

Change is inevitable in business. Property ownership has some risk. Sometimes neighborhoods depreciate, businesses decline or taxes increase. Will your availability to manage the property lessen as your business grows? If so, you may need to hire a property manager. It is imperative sure you are prepared for liabilities of proper commercial property ownership.

Are you ready to explore commercial property ownership?

The Ullian Realty team has over 50 years of combined experience helping business owners purchase commercial property on Florida’s Space Coast. Using the Ullian Process our brokers will help you decide whether now is the best time to buy or lease a commercial property space in Melbourne, FL. Contact us today to learn more.

The post Should I Buy or Lease My Commercial Property Space in Melbourne FL? appeared first on The Ullian Realty Corporation.

How to Choose the Best Broker to Sell Your Commercial Property

Selling commercial property is no easy feat. There are many rules and regulations that govern the commercial real estate market and the landscape can change rapidly. If you want to get the most out of your commercial property you need the help of someone who is experienced.

Here are a few tips to keep in mind when choosing a broker to sell your real estate.

Do Your Research

It pays off to do some research before any official meetings take place. Learn what you can about the local commercial real estate market. For example, you could find out what similar properties are going for in your area. Every bit of knowledge on your part will help you separate the wheat from the chaff.

Consult With Others

A broker’s reputation is their most important asset, and the best way to learn about a broker’s reputation is by talking with other commercial property owners in the area. Ask if they’ve had experience with the broker. If so what are their strengths and weaknesses? Would they use them again? The more people you can find who have had experience with the broker the better. You can also check on a broker or company by looking at the Better Business Bureau or online reviews. It’s important to remember with this research there are always two sides to every story. If you hear a consistent experience explained this is one to pay attention to.

Be Direct

You know what you want, so don’t be afraid to come out and say it. If your expectations are truly unreasonable, then a good commercial real estate broker will help guide you in the right direction and explain why you may not be able to get the exact price you want or why it may take a little longer to make a sale. You and your broker should be able to talk candidly and openly without any friction.

Ask Questions

When choosing someone to sell your commercial property, always ask questions. There’s no such thing as too many. Ask if they have experience selling your type of commercial real estate, ask about the size of the firm and how much individual attention you will receive, ask about their compensation practices and how they might conflict with your own interests. Whatever comes to mind that you want to know, just ask.

Always Sign A Contract

A simple tip, yet one of most important. When you’re doing business with someone, especially when there’s a large amount of money on the line, always sign a contract. Even if you’ve done your due diligence and think you’ve found the perfect broker for your property, misunderstandings can happen. A contract will protect you and keep your broker honest.

If you want to get the most out of your commercial real estate ventures, you need an agency with knowledge of the local property market. At Ullian Realty, we’ve been serving the space coast and Brevard County out of Melbourne, FL for over 50 years. Contact us today to see what we can do for you.

One of the Largest Real Estate Sale Transactions in Brevard County History

From fishing-buddies to professional brokers. Mike Ullian, CCIM, and Adam Rathbun, CCIM, of The Ullian Realty Corporation in Melbourne, Fla., have known each other for more than 20 years. Just recently the two decided to team up and join forces under one roof.

“We had a lot of similar properties with different clientele,” says Ullian, “We were stronger together, so we decided to bring our talents together.” Although they have worked on many deals in the past with each other, Ullian and Rathbun co-brokered one of their first deals together since Rathbun joined The Ullian Realty Corporation. Ullian represented American Equities LTD NO. 4 in the $6.85 million sale of the 139,000-sf Technology Center industrial complex in Melbourne to B&M Property Holdings represented by Rathbun. With one of the largest real estate sale transactions in Brevard County history, The Ullian Realty Corporation team is headed in the right direction.

Ullian credits CCIM for his success in both the deal and his career. “Having the CCIM designation, in my opinion, is the equivalent to having a Ph.D. in real estate,” he says. “When we go talk to folks they know about CCIM, they understand the quality of the individual, and the type of person and professional they are going to get. It’s a door opener.” Rathbun explains that the tools CCIM Institute provides, such as Site To Do Business were instrumental in this transaction. Yet, the most important tool of all is the trust and professionalism that can exist between two CCIMs. “The way we do business, and the way we treat people, it makes it easier that we are both CCIMs working on the same team together,” Rathbun says.