The price of a commercial property will often depend on a number of different parameters.
So, while weighing the price of the property, consider the following:
- 1) Is it located in a flourishing business district, or is it in a virgin territory?
- 2) What is the prevalent rate per sq. ft. in the area in other such properties?
- 3) If new, is it a ready-possession property or still under construction?
- 4) If on resale, how old is the building, how well has it been maintained and is the rate commensurate?
- 5) Is the price right for you, depending on the returns you expect from your business activity?
- 6) If you believe, the property will add stature to your business, is it a worthwhile investment?