Through the years potential buyers have asked numerous questions while getting commercial inspections.  Just what is this or that?  Are these cracks significant?  Do I need a whole new roof covering?  What about the foundation? Is there anything that I truly need to be concerned about right now? These all come right down to the single thing that is most on their minds…

What exactly is it going to cost?

A large amount of commercial real estate is bought specifically for an investment.  Any time you're purchasing or considering buying commercial real estate you ought to know exactly what the potential concealed costs are or even might be in the near future. 

After reviewing the info from 1000s of commercial property inspections as well as hundreds of clients who were asked what they actually want to know regarding a prospective piece of commercial real estate, the key factors were narrowed down to the three things which answer the question “What will it cost?” 

A.  What is the expected useful life remaining in every system?  (Such as: How long is the HVAC or perhaps the plumbing likely to last according to industry standards?)

B.  What immediate repairs or even upgrades are needed?  (Like: Will i need an electrical contractor or an Heating and cooling guy to come out and go through the system in greater detail and make needed corrections?)

C.  What should I anticipate paying within the next five years for that system?  (Say the Heating and cooling system is outdated and most likely will need replacement within the next five years. What is a reasonable amount to expect to pay for that?)

These are not only good questions, these are crucial for a buyer to know prior to committing his or her investment dollars into any kind of commercial or multi-family property.  A comprehensive inspection done by a professional and also experienced commercial inspector will assist to answer those concerns and really should always be part of the due diligence performed ahead of finalizing any kind of purchase.

A complete commercial property inspection may be the single best expenditure you may make when you are considering a potential commercial real estate purchase which is something seasoned investors and businessmen understand very well.