Securing a great location is one of the keys to success for any retail business, and commercial real estate is a great investment for entrepreneurs. That’s why our team of retail real estate experts is here to help you find the ideal property for your business. We’ve been selling real estate in King County for years and have the knowledge and experience to help you make the right decision.
Our website regularly lists over 50 commercial retail properties for sale in neighborhoods like Capitol Hill, Central District, Mt. Baker, West Seattle, Beacon Hill, and more. Use the search feature on our website to quickly find retail real estate for sale near you that meets your requirements.
Retail Property Types
Teletare can help you find a wide range of commercial retail real estate properties in Washington State, including:
- Single Tenant
- Strip Center
- Shopping Centers
How to Evaluate Retail Properties for Sale
As you know, every retail space is different. Depending on your business and your needs, some spaces could be perfect while others simply won’t work. So, it’s important to really do your homework on every property you look at to ensure it meets all of your needs.
Here are a few things for businesses to consider:
- Location: This is probably the most important factor to consider for any retail business. Your location can either make or break your business, so choose wisely. See below for some tips on how to choose the right location.
- Condition of the Property: What shape is the property in? Older spaces that require maintenance could mean bigger costs down the road. If the condition of the property is poor you should negotiate a tenant improvement allowance (TI) so you can fix up the space before you take occupancy.
- Surrounding Businesses: What other businesses are near you? Are they businesses that will complement yours and bring in more foot traffic, or are they competing businesses? Try to avoid areas that are already saturated with similar products and services so you can limit your competition.
If you’re looking to invest in a commercial retail property, you’ll need to think about the following:
- Net Operating Income: Before purchasing a property you’ll want to know how much you can expect to earn through your lease. You can do this by calculating the net operating income. Subtract the property’s operating expenses and vacancy from its schedule gross income to get this figure, which will give you a good idea of your annual income.
- Capitalization Rate: You’ll also want to know what your rate of return on your investment will be. You can judge this by using the property’s capitalization rate, which is determined by dividing the net operating income by the property’s value.
Types of Leases:
What type of leasing structure is used by property? You’ll want to know as this can significantly impact your responsibilities and operating expenses. There are four common types of leases:
- Absolute Net Lease: The tenant takes on all the responsibilities, including repairs, maintenance, insurance, and taxes.
- Triple Net Lease (NNN): The tenant is responsible for the three net expenses, which are maintenance, insurance, and taxes. Larger repairs (such as roof replacement) are the responsibility of the property owner, but everything else is taken care of by the tenant.
- Double Net Lease (NN): This is a variation of the triple net lease where tenants are responsible for insurance and taxes, while repairs and maintenance are the responsibility of the property owner. This includes any costs associated with roofs, windows, HVAC, and landscaping. This type of lease is much more hands-on that a NNN lease, making it less desirable for some investors.
- Full Service: All costs associated with the building are the responsibility of the property owner.
Choosing the Right Location
There are plenty of great retail buildings for sale in King County. But which one is right for you? Our team has been helping retail businesses and investors find commercial real estate for years. We can analyze your business and needs and find a location that suits you perfectly.
Here are some tips for choosing the right location:
- Know Your Customer: Determine who your ideal customer is and the type of people you most often sell to.
- Analyze the Demographics of Your Area: Once you know who your customers are do your research and find where they’re located so you can choose a property that’s close by.
- Foot Traffic: If you depend on a high amount of foot traffic nearby to generate sales look for locations in busy urban areas.
- Tips for Investors: If you’re purchasing the space as an investment, think about how the above tips will apply to your potential tenants. If you choose a location that works well for a wide range of businesses you’ll have a much easier time filling the space.
Find the Perfect Commercial Retail Property for Sale
Are you ready to start looking for commercial retail real estate in Washington State? Our team can help you find a property that will allow you to grow your business.