Industrial spaces are great Miami commercial real estate properties for business that require large storage spaces. These properties are greatly helpful for large-scale production and even shipping. If you’re looking for large commercial office area, however, industrial spaces are also wonderful. While these are certainly tempting advantages, let’s move further and see industrial spaces from two sides: the pros and the cons.
The Advantages
As previously mentioned, there are certainly a lot of benefits that come along with industrial Miami commercial real estatespaces. Take a look at a few others, which make it quite attractive to investors.
1. Versatility
The common usage of industrial spaces is tremendously helpful for investors looking for ways to downsize and extra storage. These large Miami commercial real estate spaces provide easy solutions for businesses in need of large manufacturing and production areas. Yet industrial spaces are also known for their versatility. If you’ve a huge staff, for instance, industrial spaces are great commercial office alternatives.
2. Affordability
Unlike traditional commercial spaces, industrial ones are reasonably priced; they are usually significantly cheaper per square foot.
3. Leasing flexibility
These Miami commercial real estate properties also provide buyers with extra room for negotiation. The flexibility in terms of leasing is a great advantage for any marketers looking for more freedom and control over the property.
The Disadvantages
Like many things in real estate, industrial spaces are not without their shortcomings. Let’s take a look at some of the drawbacks of owning these types of spaces.
1. Utilities costs more
These spaces are often extremely large, thus helpful for accommodating heaps of functionalities. On the downside, the scale of industrial spaces calls for additional costs when it comes to utilities. You’ll find these areas wanting more plumbing, electrical and HVAC expenses than its smaller counterparts.
2. More downtime during renovations
Once you become an owner of such commercial property, you can’t expect to launch your business immediately after; you can’t even expect to launch within 3-6 months at the least. These spaces require more time during renovations. Due to their relatively large size, contractors have a lot more space to cover.
3. Commercial Area Maintenance
Lastly, these types of Miami commercial real estate properties will likely set you back for additional fees. CAM or Commercial Area Maintenance fees are commonly tied with commercial leases, and with industrial spaces these fees can run for thousands of dollars. Although these fees are required for the maintenance of the commercial property, you have to be sure that you’re lease will not let you end up paying more than what you ought to.
Mark Michael Ferrer
Miami Commercial Real Estate
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