What to Consider When Buying Commercial Land for Sale in Fort Myers
According to the World Population Review, Fort Myers derives 80% of its income from retail businesses, healthcare, and hospitality. It’s also growing rapidly, at a rate of 6.82% per year.
These factors make this city an attractive choice for potential commercial property owners if you know how to secure the best land. Keep reading for our best tips when considering commercial land for sale in Fort Myers.
Location First
Location is always the first criterion when buying land for commercial use. You should only consider lots that are convenient for your customers as well as your employees.
Remember to consider your suppliers, too. If you need to import your goods from too far away, it will impact your bottom line.
Do you require high volumes of supplies and products? Be sure to look at commercial real estate located close to shipping lanes, railways, or highways.
Market Value
If you’re considering commercial real estate for sale that has buildings on it, pay attention to the condition of the structures. Does the price of the property reflect this?
Always consider the cost of any necessary repairs and land remediation and how this may affect your operational costs. If the building contains lead paint or asbestos, you could end up paying for abatement.
Other costs to consider include extra fees for insurance if the land is close to water, situated in a floodplain, or subject to high winds. If it’s located far from a pressurized fire hydrant, you’ll need to consider extra expenses to comply with fire safety regulations.
These factors are especially important if you hope to sell the property later on. One way to avoid making mistakes in this area is to arrange a market analysis before buying the land.
The Land Characteristics
Investigate whether the land has the correct zoning for your type of business; these laws may differ considerably in different cities. You can reach out to the city’s Economic Development Director for assistance with this.
Does the property have sloping or uneven ground? You may need to pay for major earthworks if the terrain doesn’t lend itself to your parking and construction needs.
Inadequate parking is a major deterrent for potential customers. Commercial land must have abundant space for your employees, deliveries, and customers to park their vehicles.
Keep future expansion in mind while shopping for land, too. It’s best to choose land that allows you room to grow before you need to move again.
When considering your future, think about whether the property’s structure allows for renting out surplus space if things don’t go according to plan.
Find Commercial Land for Sale in Fort Myers
Working with an experienced real estate agent with extensive local knowledge is the best way to ensure you buy the best commercial land for your needs in Fort Myers.
These experts can help you choose the best location, advise you on zoning criteria, and make sure you get the most bang for your buck when buying commercial property.
Are you ready to get started? Browse our selection of commercial land for sale in Fort Myers and get in touch with us at Alec Salameh Realtor for assistance with all your South Florida real estate needs.
