Business owners are not accustomed to seeing the term “multi-use commercial property for lease,” but it is a term which is catching on in the commercial real estate business and it is a term worth understanding and considering.
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What is multi-use commercial property for lease?
It is exactly what it implies. Instead of a commercial property being a warehouse, or an office, or a shop, garage, or flex space, it is a functional piece of property which can be all things to most businesses. It is flexible in design, and it can be re-configured to fit most any commercial need. It begins with the simple premise that all commercial property for rent is no more than four walls, a roof, and flooring. What happens within those four walls is what designates that property as a warehouse, an office, a shop or a garage.
How does that affect the pricing of the property lease?
Well at RDS Real Estate, we don’t believe it should. That is why we specialize in small-to-medium multi-use properties, and that is why we say we have commercial property for any need. Pricing for commercial property should always be based on square footage and location; those are the only two true pricing factors.
This writer remembers, fondly, a home in the neighborhood of his childhood which was converted to a Mom and Pop grocery store after the death of the husband. That was many years ago, before the term multi-use came into existence, but it was truly an example of multi-use commercial property. If you pay close attention you will notice many examples on your own journey: a country church converted into a flea market retail outlet; a convenience store changed into a car repair shop; and a filling station changed into a restaurant. All are examples of commercial property which were changed into something else because their basic design made it easy to do so.
We would like to draw your attention to a new business park in unincorporated North Fort Worth, within the Fort Worth Design District. The business park is called Box Office Warehouse Suites, and it consists of nearly forty Fort Worth commercial properties for rent, all of which are multi-use, and all of which lease for the same price. There you will find a Happy Bank, Salon & Spa Galleria, and a variety of other businesses, all different, and all thriving within the same building design. It is worth taking a look at on the YouTube drone tour seen here.
Take a look around your community if you are in the market for commercial space for lease. Look for multi-use properties for sale. Do not be hemmed in by labels. If it is retail space you need, look at all commercial property in your chosen location and envision your retail shop in all of those properties. You may find your nugget of commercial gold in a place you never expected.
RDS Real Estate is a locally owned and operated commercial real estate company serving all of Tarrant County, Texas. Contact us with your questions and we will give you the answers you need.