Leasing vs. Purchasing Las Vegas Commercial Real Estate
Looking for the perfect space for your business? The properties available for your business’s new location will ultimately depend on whether you want to buy or lease. Working with a team of experts in the Las Vegas Valley real estate market can set you on the path to finding the perfect location for your business at a great price.
We Want to Help You Find Commercial Space for Rent in the Las Vegas Area
Deciding whether you should buy or lease a space is one of the most critical decisions you’ll make as a business owner. Your choice will impact your business on every level, from its day-to-day operations to its future growth prospects. If you’re looking for a commercial office space for rent in Las Vegas or are considering purchasing one, it’s important that you work with a partner that has deep knowledge and experience in this market. Crown Point Commercial can help you find what you are looking for at a great price.
What Are the Advantages and Disadvantages of Owning a Commercial Building?
Many business owners are attracted to the idea of buying their own space for their business. Purchasing commercial real estate in Las Vegas can be a great move for businesses that have the ability and the long-term use of a property, especially once long-term appreciation is factored in.
Buying commercial property makes sense if you want to build equity in your business or if you want to rent out part of your building as a landlord. If you’re looking to customize your space or if you need a specialized building, buying commercial real estate could be better than renting. It’s also a good option if you don’t want to move your location over the long-term.
Here are some of the advantages and disadvantages to consider before you decide to buy a property:
- Security and stability
- Lease terms expiration
- Equity build-up
- Potential of additional income
- Fully customizable for your operations
- Control your own fate
- Capital investment
- Limits growth if purchased too small
- Not liquid
- Limitation on options
- Risk – loan, financial, liability
- Repairs and maintenance
Have you ever thought about selling your property, then negotiating a leaseback? We’ve got you covered. We can provide you guidance as to the pros and cons and how this type of transaction will impact you. We have a track record of orchestrating these types of transactions efficiently while negotiating favorable rates on behalf of our clients.
Make the Best Decision Using Our Cost-Benefit Analysis
There is a wealth of information available about the Las Vegas commercial real estate market, but most business owners do not have the time to fully assess and analyze it. Working with an experienced commercial real estate brokerage can help you make sense of the noise and identify the right opportunities for your business.
At Crown Point, we track, monitor, and analyze all commercial real estate transactions and trends in the Las Vegas Valley. We will prepare a Cost-Benefit Analysis of your expected ROI on a property with different projections for buying or leasing. We incorporate your business’s growth plan into our analysis, providing you with 5- to 10-year projections based on assumptions for growth in that particular market. Our detailed evaluation will provide you the insight you need to know whether buying or leasing a property is right for your business.
What You Need to Consider
Before purchasing or leasing a new commercial location in the greater Las Vegas area, you’ll want to take some important factors into consideration. First, you’ll want to look at the state of your business and how you expect it to change across the life of your lease or building. Then you’ll want to think about how a particular location and building or space will fulfill your current and future business needs and what changes, if any, you’ll need to make.
Location can make or break your business, so it’s vital that you think about the area in which you want to place your business before looking for a specific space. Ask yourself these questions when looking for the right location for your business:
- Operations: What must the location include for your operation to run at its intended capacity?
- Talent: Where should you place your business to attract the best talent?
- Limitations: What limitations or bottlenecks do you want to avoid at your location?
- Competition: How close or how far do you want to be from competitors?
- Supply Chain: Do you need to be close to or have easy access to your supply chain?
- Brand: Will the location increase your brand awareness and support your branding?
Once you know what to look for in your business’s location, you can begin to think about the actual building requirements you’ll need to successfully run it. Ask these questions to find the right space for your business:
- Size: Is the space what you need for your business to function at capacity available, or are you having to compromise?
- Expansion: What tenant improvements will be required in your space and will you have to pay for them?
- Nearby Alternatives: What’s the availability of future space if your lease increases, isn’t extended, or you need to sell your building?
- Price: What does your rent or mortgage need to be to leave money left over to grow your business?
Your industry, specific needs, and current market conditions will determine the best location and space for your business.
Choosing What's Right for You
When you work with the Crown Point team, we’ll go over your options to ensure you’re making the best choice for your business. We understand current financing options and will work to get you the best terms available, whether you are buying or leasing. We analyze forecasted lease rates and compare them to the commercial loan rates and terms.
Not only do we have a pulse on the local Las Vegas market for commercial real estate, but we also have a background in general contracting. This means we can provide reasonable projections about tenant improvements to a property you might buy or its build-out. We’re also knowledgeable of zoning or building restrictions and other issues that could impact you as a business owner.
Get in touch with an expert
Let us give you a market assessment and recommendations to maximize your real estate investment.
Give us a call today at 702-472-9958 or fill out the form to speak with one of your experts.