Just because your office real estate is tiny doesn’t mean it can’t be effective!
Focusing on micro-units in office and retail real estate can make all the difference for your business. In fact, with “affordable housing” continuing to be the buzzword of the past decade, business owners are starting to find ways to make the most out of their real estate investments. This ultimately means that as costs of living continue to rise, developers all around the area are focusing on affordable housing options for their customers. But, there is also an affordability crisis that is taking place among entrepreneurs and startups. How so? The cost of commercial space has sky-rocketed over the last few years. This has brought in the rise of micro units and why they are becoming increasingly popular among office real estate needs for businesses. Here are just some key reasons micro-units are becoming a mainstay in office real estate these days.
Understanding Micro-Units
In the most simplest of terms, micro-units are basically any type of commercial or multi-family space that is smaller than the market average. In fact, these micro-units are used in different markets which is why they vary so greatly across the various markets.
Their Size Promotes Affordability
Simply put, it’s the size of micro-units that makes them so affordable in the real estate space — especially as offices begin downsizing. In fact, smaller commercial units are broadening out to more than just densely populated cities and becoming increasingly popular even in rural areas.
No Government Involvement Required
Another perk associated with micro-units has to do with the lack of government involvement that comes with them. Because developers have to consistently pay market rates for land, micro-units are a great affordable option. There’s no need for tax breaks with micro-units which becomes increasingly desirable for more and more developers.
Bottom Line
At the end of the day, micro-units have become increasingly popular. In fact, as more and more developers begin to expand to micro-units, you can expect to see these types of office spaces prop up throughout the country as a great affordable option in the commercial real estate space. Getting into the investment before it really blossoms could be financially beneficial for many developers at the moment.
Trust the Professionals at Clagett Enterprises for Your Realty and Management Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.