Cleveland Realtors are often asked whether it is better to own or lease office space, industrial real estate and retail real estate. Broker to broker, the answer is the same – it depends.  Here are several factors Ohio Commercial Real Estate Brokers suggest you consider.

Consider cash outlay: Generally, you don’t need to put out as much money upfront when you lease a Cleveland office space as you do when you look at commercial property for sale.   A quick example: A commercial real estate broker is looking to sell a $500,000 Cleveland Building. Someone leasing the space might pay around $4,000 monthly in rent. Someone looking to buy the same commercial real estate in Cleveland would have to put about $150,000 down, and also would have had to pay for an appraisal, building inspections, loan fees and other costs.

The fixed/variable cost factor: Buy a Cleveland property and you have a good idea of what your costs are going to be year after year, especially if you get a fixed-rate loan on the property. Lease and your costs may change when your lease term expires.

Plan for growth Buying land for sale in Cleveland or commercial real estate for sale in Cleveland that’s just the right size for you now can look attractive. But what will you do if your business and your space requirement grows over the next few years?

Outgrowing a space doesn’t have to be a financial crisis.  A retail real estate broker can help you avoid the cost and hassle of moving by simply leasing more space in the building you already  occupy.

Figure the appreciation factor: Buying commercial real estate in Cleveland puts you in a second business: real estate investing. If you’re in an area of appreciating land values, eventually you could sell it at a profit. But if you own industrial real estate or commercial real estate in Northeast Ohio with more space than your business needs, you’ll probably end up renting to others, thus becoming a landlord. It can all be profitable, but it is more work than simply leasing space.

Consider  tax issues: As usual, there are tax issues to consider. Businesses routinely can deduct the full amount they pay in rent. Owners of commercial rentals can write off repairs immediately, but improvements to Ohio industrial real estate have to be deducted over 39 years. Depreciation on Cleveland commercial real estate also is taken over 39 years.

Getting more help

In general, leasing tends to appeal to businesspeople who don’t want to make the kind of large upfront investment required with a purchase, who aren’t really sure how much space they’ll ultimately need and who simply don’t want to have to deal with the responsibilities of owning a piece of commercial property. Buying is going to make more sense for businesspeople who are more established, who want to be in one location for several years and who have the financial resources to take on a significant real estate investment.

Talk with one of our Cleveland realtors, commercial real estate broker, or retail real estate broker for more information.

If you’re looking for Cleveland office space, commercial rentals, or commercial real estate in Northeast Ohio, experts agree there are several things you should consider.

We’ve all heard the key to finding great Cleveland property or Cleveland office space is location, location, location. Whether you’re looking for Beachwood or Westlake office space, or are considering an office in a downtown Cleveland building, commercial real estate in Cleveland Ohio gives you many options. Here are some tips from Ohio Commercial Real Estate Brokers:

- Before you look at any Cleveland property, consider whether clients or others will be visiting your office.  Is it easy to access? If it’s on a major street, will there be nearby construction in the future?  You can find out from your Commercial Real Estate Broker.

- If you’ve found a commercial space you’re interested in, talk to others in or around the area to see if they have had a good experience. Use services such as Google to find articles about the area you are considering. Search under “Cleveland Ohio Commercial Realty,” “Commercial Real Estate Cleveland” or “Commercial Real Estate Northeast Ohio.”

- While you are researching, check out whether the Cleveland property aligns with the current fair market value. Search all Commercial Cleveland Property online to determine what the price per square foot average is in your area.

- Does your office offer phone answering service, fax service, copy machine service, conference rooms and other services? Check with other tenants to see if they use and are satisfied with these amenities.

- Many landlords will offer a graduated rent scale. This means the first month you may pay $500 then $600 then $700 and work your way up to your final rent total. This is justified as a new business getting started and office expenses you will have such as furniture.

NAI Daus specializes in Commercial Real Estate in the Greater Cleveland Area.  Some of the special services for Commercial Realestate Cleveland Ohio include:

• Commercial Rentals
• Industrial Real Estate
• Ohio Industrial Real Estate
• General Commercial Real Estate Cleveland
• Cleveland Building
• Retail Real Estate Broker

To find out more about our various Real Estate Services for commercial use in Cleveland, Ohio, visit www.naidaus.com

Today, more and more people run home businesses from a desk in their bedroom, the kitchen and sometimes even the closet. While there are positive advantages to running a business from home there are also many negative aspects. That’s why you should think of moving that home based business into a Cleveland office space.
Among the many disadvantages of home businesses are time management issues. When you are home something always comes up, and it usually has nothing to do with the business. You can’t concentrate because you are paying so much attention to the kids, lunch, cleaning, etc. When do you have time to run your business?

When you rent office space in a Cleveland building, you get rid of these personal problems and can dedicate your time to your business.

Cleveland commercial real estate is not as expensive as you might think. In fact most experts in Cleveland property management will tell you that prices have fallen and that there is a lot of quality commercial real estate for sale in Cleveland.

So, whether you are thinking of looking into commercial rentals, or commercial real estate for sale in Cleveland, you will find what you are looking for quite easily and inexpensively.

Stop fighting with the people you love.  Let them enjoy their home and look for the right Ohio commercial space for that business of yours. You will feel much more comfortable in a proper work environment, and they will get to enjoy their home.