The best way to get familiar with commercial real estate is to hire an Edmonton real estate agent who can help guide you through all of the complexities and moving parts that come up in the buying or leasing process. Here are 4 common questions we hear from clients!
What are the different types of commercial real estate?
The five kinds of commercial properties in Edmonton are office, retail, multifamily, industrial, and hospitality. If you want to lease a space for your dental office, you will be looking for an office space. If you are a clothing designer looking to expand your business to another area in the city, you’ll be looking for retail space. If you need a warehouse to operate your business out of, you’ll be looking in an industrial area. Depending on what your business is, you can start limiting the kind of space that best suits your needs.
How important is zoning?
Zoning is of the utmost importance! Navigating zoning regulations is key to successfully using your commercial property in Edmonton. Understanding the complexities of zoning bylaws, determining the property’s zoning district, and reviewing the permitted uses are vital steps in this process. The City of Edmonton’s zoning regulations dictate how land and buildings can be used, and compliance with these regulations is important, ensuring a legally compliant development process. By familiarizing yourself with the zoning bylaws in Edmonton, defining the property’s zoning district, and familiarizing yourself with the permitted uses, you can make knowledgeable decisions and take the required steps to comply with the rules and regulations.
Do I need to hire an Edmonton commercial REALTOR®?
You can buy, lease, or sell a commercial property in Edmonton without a REALTOR®. However, the help of a skilled real estate agent will be invaluable to your success in securing the right commercial property in Edmonton. Commercial REALTORS® are experts in their field, equipped with connections, professional experience, and knowledge of the local market. If you are buying or leasing a commercial property in Edmonton, you do not pay your REALTORS® commission; their commission is paid out by the seller.
Should I secure financing ahead of time?
Absolutely. You want to guarantee you can pay for your investment before you begin looking at commercial properties in Edmonton. By securing financing beforehand, you can create a budget and give yourself the time to compare your financing options before you find a commercial property in Edmonton you want to move on. In a seller’s market, securing your financing before you put in an offer is significant leverage, mainly if other offers are coming in that still need to secure financing.
Working with Realty Unleashed!
Realty Unleashed is an independent real estate brokerage serving clients in both Edmonton and Calgary. If you are ready to begin searching for a commercial property in Edmonton and want to hire a real estate professional, we would love to connect with you! Please fill out the form below; someone from our team will get back to you soon.
