Never Buy Commercial Real Estate in These Locations

If you’re looking to buy commercial real estate in Collingwood, there are some locations you should steer clear of, including:

1. Locations that are hard to access- How frustrating is it when you’re trying to find a store but you have to walk around a building, through an alley, and up three flights of stairs to a door with a half-lit sign? Make sure access to the business is easy and safe, or people may just find somewhere else to go.
2. Locations surrounded by businesses  in a completely different market- Try to stay away from purchasing your commercial real estate in a plaza with Domino’s, McDonald’s and Wendy’s if you’re an insurance company. It will be busy nearby for sure, but people will be coming to that area for the food and won’t pay much attention to you.
3. Run-down areas- Sure, it may be cheap, but browsing for commercial real estate in not-so-nice areas will deter people from visiting, and makes your business look less reputable. People associate run-down areas with a lack of safety, and you want your customers to feel safe when they’re with you.
4. Areas with no parking- It’s such an inconvenience to be trying to go somewhere that has no or limited parking. Ensure wherever you decide to buy, your customers have accessible parking within at least a short walking distance, if not right outside your business.

Have you ever bought commercial real estate in a location that was detrimental to your business?