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5 Things You Should Know About Buying Commercial Property in Athens

Interested in buying commercial property in Athens? Buying property for your business can easily feel like a monumental task, but there are ways you can narrow your focus to make the process easier for everyone involved. To make this perceived mountain of a goal into a molehill, here are 5 things you should know about buying commercial property in Athens:.

Shop for Your Needs

Looking to purchase commercial property begins the same as buying a home to live in: You have to establish your needs and do your best to discover the property that will tick all of those boxes while remaining within your budget. 

A deciding factor for the success of a business within a commercial property in Athens can depend on its location. Whether the location is judged based on proximity to residential areas, the potential for walking traffic, or even the other businesses surrounding the property, location is sometimes more important than what the business itself offers. 

An often overlooked scenario is a business gaining an image by being associated with one of its neighboring businesses. Take a look at the bigger picture in determining which of the available commercial properties will best fit your needs, and pursue those with a more critical eye.

It Takes a Team

Depending on the magnitude of your goals, you may want to reach out and find others to help everything run smoothly. 

No matter how big or small your commercial property buying venture, hiring a commercial real estate agent and consulting with a commercial real estate attorney is a must. Both of these contacts will have years of experience under their belt to help you find the right property for the right price, avoid possible legal pitfalls, and then cut a deal benefitting you and closing the transaction. 

Next, a mortgage broker or investors will likely be necessary to secure financing, unless you’re coming from a position of substantial economic liquidity already. If you’re working on a larger project, an accountant could lend a hand in determining the financial viability of any interesting properties, and help specify the most profitable locations by the numbers.

Accessibility Is Key

Where your property is located gets the ball rolling, but how customers and employees get to your door is the next piece of the puzzle. 

Most commercial real estate agents will tell you that ample parking is king, but ensuring access to foot traffic and providing ramps or lifts can make a big difference as well. Before you jump on a cheap listing, turn a critical eye to how a member of the disabled community may interact with the property, and determine if that is within reasonable means. 

Put yourself in their shoes while viewing the property to figure out complications that could arise, attempt to brainstorm simple but effective solutions, and it could pay dividends later.

Mind the Fine Print

When purchasing any property, it’s very easy to get fixated on the negotiated asking price and forget to factor in the additional major expenses: Taxes and insurance. 

This is where an accountant will always have your back, but making sure to obtain the most recent tax records and get an insurance quote can prevent you from facing any nasty surprises down the road. Be careful to pay attention to the possibility of needing any other supplemental insurance, such as flood insurance, due to geographic details.

Market Conditions

Take into consideration that the commercial real estate market has a tendency to maintain value even though some of the worst economic conditions. 

With this nearly guaranteed stability, expect a more difficult time talking an owner down in price without substantial leverage. This is why it’s important to thoroughly research and view any property in which you are interested.

Help Finding Commercial Property in Athens

Searching for commercial property in Athens is best done with the help of trained professionals, so contact us today at 706-928-9959 to get started!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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