There are dozens of factors to consider when searching for the best Alaska commercial real estate property. For instance, the location, the square footage, and the rent. But before you get carried away thinking about what your profit could be, it’s important to ask a few questions to ensure you have checked all of the boxes and avoid remorse (or any financial surprises!) down the road.
As you browse Alaska commercial real estate properties this year, you will want to research the following questions regarding the lease:
What type of lease should I offer?
As we mentioned above, the lease is one of the most important elements of a commercial real estate transaction. In fact, there are dozens of terms and limitations that come with each type of commercial lease, so be sure to brush up on the different options, including:
Triple Net Lease, which, for instance, requires the tenant to pay rent in addition to taxes, insurance, and maintenance costs
What type of insurance do I need?
The type of insurance you are required to have for the space will also vary and may play a role in the type of lease you choose. The required insurance will come at many different price points, so be sure to factor that into your property search. If you skip this question entirely, you may find yourself underinsured or with a surprisingly large bill every month that you didn’t account for.
Am I willing to negotiate?
Most commercial real estate leases are typically open to some aspect of negotiation, whether that means amending the lease terms and what costs the tenant is required to cover or even agreeing on a new rent. If you feel you’re not quite prepared for negotiations or are unaware of how to go about the process, remember that we’re here to help!
These questions are just a few of the many you should ask prior to committing to a commercial real estate lease and we are here to help you the rest of the way! Give Northern Edge Real Estate a call today for more information about available properties in the Anchorage area or for tips on how to get started!