Adding value to your commercial property means creating improvements that will ultimately increase their value and enhance your cash flow.
When commercial properties become outdated or obsolete, developers can create brand new, desirable assets to make the space come alive again. Value-add components can include various projects, including renovations, repairs, and building reconfiguration.
Are you looking to update your commercial property? Below, we’ll explore four different ways you can add value to your space.
Reconfigure Space in Your Commercial Property
When it comes to reconfiguring your commercial property, it’s important to think about the user experience. Adding more space or dividing up space can go a long way in increasing commercial property value and modernizing your building. In addition, adding space such as a parking garage or storage can also increase value as both tend to be a high priority for tenants.
Spruce Up the Outside of Your Building
When people visit your commercial property, the first thing they’ll see is the outside of the building. It’s important to keep this area looking clean and put together. Take the time to remove all trash and slap on a little paint. Sprucing up the outside of your property is a quick and relatively easy way to make a small change look like a drastic improvement.
Update & Modernize Your Commercial Property
A modern building implements sustainable design, adopts clean energy resources, and uses modern systems like IoT creating a more lucrative offer to potential tenants and lessees. Upgrading to the latest building standards and certifications helps build demand for your commercial property. Make sure to check the lights and water heaters too! Replacing these elements will also create added value.
Add Enticing Amenities
Finally, adding amenities to your commercial property to make it more appealing and valuable. Value-enhancing amenities can include something simple, like adding free wireless Internet for your retail tenants. Or you can take it up a notch and add something more extravagant, like a daycare center in your office building or an outdoor courtyard. As always, think about what will be exciting to your tenants and draw them to your property.
With years of experience in both commercial construction and residential construction, Alpha Omega Contractors is your go-to construction company in Southern California. Our experts take on projects ranging from office space remodels, medical office renovations, and retail space updates for gyms, financial centers, restaurants, salons, car washes, and more. A trusted Orange County contractor and Los Angeles County contractor, we help bring your renovation wish list to life while helping you safeguard and future-proof the profitability of your business. Whether you need help with a residential floor plan or an upgrade to your medical office or retail space, our team of general contractors, designers, and design-build experts will collaborate with you from the initial stages of pre-construction through to putting the finishing touches on your dream remodel project on time and within budget.