When you’re making a business realty investment, you want your dollars to go as far as possible. With expert advice and some careful and creative shopping, you’ll be able to find a property you can feel great about for a great deal. Here are a few tips to helping you get the best bang for your buck on your investment:

Be willing to make improvements

Consider the possibility of investing in a class B or even a class C property to start, and then make improvements to bring it more value. A lower-class building in a great area could become an excellent source of income if brought up to class A standards. Here’s a quick guide to different class properties:

Class A: These properties represent the highest quality buildings. They are generally newer properties built within the last 15 years with top amenities, high-income earning tenants, and low vacancy rates.

Class B:  One step down from Class A, these properties are generally older than Class A, and tend to have lower income tenants. In general, these buildings are well maintained and many investors see them as an investment opportunity. They can usually be easily upgraded to Class A.

Class C:  Class C properties are typically more than 20 years old and located in less than desirable locations.  The property is generally in need of extensive updates and renovations.

Take a risk on a potentially gentrifying community

On the flip side, perhaps you’ve found a top-notch space, but it’s the area that you’re unsure of. Sometimes a risk on an up-and-coming neighborhood can be very profitable. If an excellent space is being offered for a fantastic rate because of the neighborhood, it may be worth investigating further. A lower price per square foot really adds up, and you may be able to get on the ground floor of a trendy new area.

Take advantage of long leasing agreements in business realty

Allowing your tenants to sign multi-year lease agreements is advantageous across the board. You gain tenant loyalty, reduce the risk of turnover, and can offer competitive rates. A long term lease guarantees you a consistent source of income and takes the guesswork out of seeking new tenants every several months.

Utilize expert advice

When you’re trying to get the best bang for your buck on a commercial property, don’t go it alone. This is what expert commercial real estate brokers are trained and certified to do. Hire a great commercial broker and let them know your needs and your wishlist. They can help you find the ideal investment property to meet your needs, while staying within your budget.