Like any real estate investment, investing in an industrial property in Edmonton requires careful consideration and due diligence. Here are 3 things to know about investing in commercial real estate in Edmonton!
Zoning and regulations
If you’re considering investing in an industrial property in Edmonton, knowing about zoning and regulations is essential. Zoning ordinances determine how a property can be used and what activities are permitted within specific areas. In Edmonton, industrial properties are usually zoned for specific purposes, like light industrial, heavy industrial, or mixed-use industrial zones. Ensuring the property complies with these zoning regulations allows you to avoid potential legal issues or restrictions on its use. It’s also important to note that environmental regulations may apply, particularly for properties with possible environmental hazards or contamination. To help you assess the property’s suitability for your intended use and avoid costly compliance issues, it’s best to conduct thorough due diligence on zoning and regulatory requirements. You can also consult with local authorities or zoning experts to clarify regulatory matters concerning the property and its location.
Property type
When you invest in an industrial property in Edmonton, you have options, including warehouses, manufacturing facilities, distribution centers, and flex spaces. Each property type has its unique purpose, catering to different industries and businesses. For example, warehouses are excellent for storage and distribution, while manufacturing facilities are equipped for production processes. Flex spaces offer versatility, allowing a combination of office, showroom, and warehouse space. Understanding the differences between each property type and their respective market demands can help you make informed decisions aligned with your investment goals and target tenants. You can also identify opportunities within Edmonton’s industrial real estate sector by conducting thorough market research and analyzing current trends.
Property condition
When you invest in an industrial property in Edmonton, a comprehensive inspection is paramount. The inspection should cover structural integrity, mechanical systems, and environmental factors. Structural issues like roof damage, foundation cracks, or deteriorating walls can significantly impact the property’s value and require costly repairs. Checking the condition of mechanical systems, like HVAC, plumbing, and electrical infrastructure, is important to ensure safety and operational efficiency. Also, conducting environmental assessments to identify any potential contamination or hazardous materials on the property is essential to comply with regulations and mitigate liability risks. By thoroughly examining the property’s condition, you can accurately determine its value, anticipate future maintenance costs, and make strategic investment decisions aligning with your financial objectives.
Working with Realty Unleashed
If you want to invest in an industrial property in Edmonton, we would love to hear from you. Realty Unleashed has helped many clients secure commercial spaces for our clients, and we have a careful understanding of the Edmonton market and the process of buying, leasing, and selling commercial real estate in the city. If you are ready to talk to one of our REALTOR®’s, please fill out the form below, and someone from our team will get back to you soon.
