Are you an investor looking to buy commercial land? Commercial real estate can be more challenging compared to residential property. You can eliminate most of the fears associated with such an investment by purchasing through a commercial land broker. This post highlights essential factors to consider when purchasing commercial land.
The location of commercial land impacts the accessibility and value of the property. Thus, check if the land is connected to the transport, electrical, and gas network. Then, find out the distance from the land to the nearest town. Also, you may want to analyze the demographic changes in the area. For instance, can the local population sustain the commercial ventures you intend to run? Besides, examine whether the location is prone to natural hazards such as floods, cyclones, and wildfires. Lastly, know the climate since it affects productivity, health, and energy efficiency. Therefore, engage a local commercial land broker who understands the location dynamics.
There are zoning restrictions that permit and prohibit commercial activities on land use. Typically, land may fall under residential, industrial, or agricultural zones. Therefore, determine the zoning restrictions depending on the intended land use. When you buy land through a commercial land broker, you can leave the research to the professional. This way, you will have more time planning on your development without having to worry that zoning restrictions will change your dreams.
Water is essential for most commercial ventures undertaken on a piece of land. For instance, you need adequate water for livestock and irrigation should you decide to go into farming. Thus, establish whether the land connects to natural water sources like rivers, dams, or lakes. Also, find out if the land connects to the piped water utility. Remember that there may be utility restrictions on water usage. Ultimately, you may have to invest in water collection or drill your water source point.
The quality and composition of soil affect your construction and farming decisions. Essentially, the type of soil directly impacts the cost of building. For instance, soil composition determines the amount of earthwork required when building foundations to achieve structural stability. Also, the soil affects nutrients available to sustain agricultural productivity. Again, different types of soils have varying water retention capabilities. So, does the land have sandy, rocky, loam, clay, peat, or silt soil? Your commercial land broker will connect you with qualified technicians to run the soil tests.
An easement on your land lets someone else use or access part of your land. For example, a neighboring landowner or business may have to pass through your land to access their property. Therefore, understand the easements and how they work before purchasing land.
The following easements let other parties engage in certain activities on your land:
- Utility easements
- Prescriptive easements
- Private easements
- Stormwater management easements
Whether or not commercial land is a good investment depends on land-specific features. Thus, wise investors research the property for informed decisions. Notably, do not go through the process alone while you can get commercial land brokers to smoothen the purchase. For more information, contact a service like Eshenbaugh Land Company.Share