If you own a commercial building and are looking to add value, it can seem potentially overwhelming. The good news is that there are several steps you can take that will ultimately make the building worth more.
Here are a few:
- Do cosmetic improvements outdoors. The outside of your building is the first thing people see. Cleaning, touching up paint, fixing broken lights, and other upkeep tasks that may have fallen by the wayside will go a long way.
- Make improvements inside. The outside gets people in the door, but the interior of the building makes it shine. New carpet, a good cleaning, updated fixtures, touched-up paint, improved ventilation, and more should be considered so that your building is modern, clean, and comparable to neighboring buildings.
- Increase security. A potential buyer or tenant is going to want to know that the property is safe. Add alarms, cameras, and gates to ensure security.
- Add a unique touch. What can you do to make your building special? Could your signage use some re-envisioning? Would landscaping complement the structure? Would brighter exterior colors make it shine? A building that stands out tastefully will increase in value.
- Invest in energy efficiency. A building with out-of-date lighting, air flow, and appliances is worth less and drives up utility bills. Make the improvements needed to make the building energy efficient. Tenants and buyers appreciate a space that's good for the environment.