Mixed-use buildings are unique in the commercial real estate market.
Investors in commercial real estate have many exciting and rewarding options. One type of commercial real estate that is unique is the mixed-use building. A mixed-use building typically includes both multi-family units and office or retail spaces. This unique combination of two property categories makes investing in them well worth it. Below are a few of the advantages of mixed-use buildings in Maryland.
Advantages to Residents
Most people prefer to have amenities such as groceries, entertainment, and pharmaceuticals within walking distance of their homes. In an urban or suburban neighborhood, people are already living in relatively close quarters. It certainly helps to have amenities that one can access by foot within minutes. This convenience saves on fuel and allows people a chance to exercise outdoors.
Advantages to Commercial Tenants
Meanwhile, those working in offices or retail centers can benefit from the mixed-use setup as well. Commercial tenants have a built-in customer base and plenty of exposure to foot traffic. It is easier for tenants looking for that high exposure to get and keep customers. Together, there is a close-knit sense of community as people with supply fulfill the people’s demands.
Advantages to Owners & Property Managers
If you are a commercial property investor or property manager, you can also receive the advantages of mixed-use buildings. Both residential and commercial tenants will tend to stay longer, meaning less frequent tenant turnover and less frequent tenant screening. It creates a more stable economy within the building.
Mixed-use buildings also tend to yield higher revenue and are a safer investment compared to buildings of one category alone. The diversification of uses makes it less risky and more likely to succeed even when one aspect of it might lag.
You also can enjoy an efficient, energy and cost-saving maintenance system. The entire building can use a unified energy, sewer, plumbing, and trash disposal system, despite having multiple uses. This ability to consolidate services decreases potential long-term costs and makes maintenance far easier.
Advantage for All
No matter what part of the picture you are in with a mixed-use building, there is a benefit for all. These types of properties have fantastic locations, usually within a bustling suburban or urban center with many attractions on site. Around a mixed-use building, there is usually life.
Trust the Professionals at Clagett Enterprises for Your Realty 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.