Top 10 Highest Commercial Properties For Sale in the Greater Cincinnati Area
The Greater Cincinnati area is a diverse market relatively smaller in size compared other large cities. Often overlooked by large investors there are plenty of oppotunities for investors looking for commercial real estate to buy. Check out some of the most expensive commercial property listings available on the Multiple Listing System (MLS). The commercial listings cover all the different categories such as retail, warehouse, office, industrial and more. If you want to learn more about the cash flow possibilities of any particular property be sure to get in contact today with Paul Sian who is local Cincinnati and Northern Kentucky Real Estate agent. (This list focuses on commercial properties in one location as opposed to a portfolio of properties spread around the city that are listed for sale as part of a package deal.)
Tips For Buying Commercial Real Estate
When it comes to buying commercial real estate, the approach is a bit different compared to buying a home. Residential homes have thirty-year fixed mortgage rates as well as lower interest rates compared to commercial mortgages. Commercial real estate has shorter overall terms, higher interest rates and the lender will look pretty closely at the commercial property to see if it can support the commercial mortgage loan. This article looks at what the new commercial real estate investor should be considering before they start on their adventure.
What Is Your Reason For Buying Commercial Real Estate?
For those wanting to buy commercial real estate as an investment the lender considerations will be somewhat different as compared to someone wanting to buy to have their business in the commercial space. When buying as an investment, the commercial mortgage lenders are usually looking for at least 20% down and will want to see that the current businesses occupying the property are producing enough income to cover the commercial mortgage loan payments.
For those wanting to buy commercial real estate to house their own business there are some more options available. In this situation the business owner can buy a building just for themselves and need not worry if there are tenants in place. While having tenants in place who rent some of the building is better for the business owner since they have someone else helping to pay the mortgage. Business owners also have more lending options to buy commercial real estate for business purposes...