Commercial real estate property owners face tons of challenges each day. They need to consistently research and understand their target tenants, so they can meet and exceed their expectations.
If you are targeting sophisticated technology companies and their high-earning professionals, it makes complete sense to do renovations and make the space look “cool” for millennials who may have worked for Microsoft or Google. Let’s face the truth. Most of them decide depending on how Instagram-worthy and beautiful the workplace looks.
Thinking of renovating your rental property? Here are 5 upgrade ideas that can spruce up your space.
1. Improve the exterior part of the establishment.
Take the time in improving the exterior part of your commercial real estate property. Improve the landscape, upgrade lighting, repaint walls, rebuild the walkway and make sure that the dumpsters are hidden well from the streets.
When it comes to improvements, the possibilities are endless. Upgrading the doors and windows is also a good option since it can play a role in increasing the building’s energy efficiency features.
2. Add fitness facilities.
Believe it or not, this is probably the most in-demand amenity for many rental properties. This is a big decision since the equipment is expensive and there are always liabilities to consider. Your gym doesn’t need to look like a professional training complex, but it needs to have well-maintained equipment. Challenging to incorporate, but can be extremely fruitful. This is a wonderful upgrade that can add further value to your rental property.
3. Take advantage of fast internet connection.
With more than 60% of the population working remotely, fast internet is no longer a luxury but a basic utility. Apart from good community wifi, high-speed wired services can provide tons of value to your renters. Remodel your interiors and add outlets with USB sockets to accommodate more devices.
4. Renovate bathrooms and kitchens.
The kitchen is an essential area in a unit and must be as comfortable and updated as the receiving area. Try enhancing the visual appearance of your property’s kitchen by repainting cabinets, and adding tile backsplashes along with the granite countertops. Moreover, keep the bathroom in style by upgrading the vanity and flooring.
5. Improve energy efficiency.
By making your commercial real estate more efficient, you can lessen your carbon footprint and lower utility bills. Pay extra attention to the overall condition of your doors, roofing system, appliances, and air and heating equipment. If it’s been years since they last got updated, it’s time to check and consider some upgrades.
Look into the possibilities of integrating energy-efficient light bulbs and solar power in your building. These components can reduce your expenses while lessening environmental impact.
Looking for a new commercial real estate property to invest in?
There is a specialty property at 300 S 7th Street in Las Vegas that is on sale right now. A one-story religious facility (property subtype) built in 1958, it is one of the amazing properties you can acquire at the moment. The building size is at 10,500 SF, while the lot size is 0.80 AC.
This a Keller Williams Las Vegas Commercial listing courtesy of Martin Toumaian. If you are interested in leasing this property, you can reach out to Lovely LaGuerre today at 702-340-7384 or email Lovely@Lovelysellsvegas.com to make an appointment.