Commercial real estate’s location is very important in terms of its value for buying, selling, or leasing. Most businesses who use these types of space would want to have it within a growing population. Because that means that the local economy is good since many people are attracted to living here.
Aside from that, most commercial real estate for sale in Northern Virginia value proximity to public amenities and office space commercial as well as transportation.
Northern Virginia, VA or known in local terms as NOVA or NoVA, comprises counties and independent cities in the Virginia Commonwealth.
In 2019, Northern Virginia is the most populous region in Virginia as well as the Washington Metropolitan Area. It has an estimated 3.1 million population, roughly 37 percent of the entire Virginia population.
With that, it also has a significantly larger job opportunity base compared to the capital. Not only that, but it is also the highest-income region of Virginia. That is made possible with the contribution of many high-income counties across the US like Arlington and Fairfax.
It also has a really good transportation system and is situated near a highway. It’s embedded in an extensive network of highways and expressways!
But with the coronavirus pandemic, many business owners are now facing a major dilemma. Commercial property prices are rising especially office space commercial with demands on health-related amenities. And for the near future, we might be putting these amenities as a staple. Even when the threat of the virus is already gone.
That is even besides the fact that with staff cutback and work-from-home setup, many are resorting to posting their property as distressed commercial property for sale.
What is commercial real estate?
Also, we get a lot of requests from owners on “how to sell my commercial property” and “I want to lease my commercial property”. Many are also questioning whether commercial real estate is still profitable. There are also inquiries on flipping commercial real estate, industrial leasing companies, office leasing companies, and other business property for lease and for sale.
While some are taking the hot road in buying business property like warehouse buildings and large warehouses for distribution centers. Thanks to the rise of e-commerce, industrial commercial real estate is now booming.
But before we discuss these things, let us first take a quick look at some definitions.
A commercial real estate is generally any real estate that is intended for profit. These are commonly bought for investment like renting out the commercial space or empty lot. There are several types of commercial real estate such as office space, retail, and industrial commercial real estate to name a few.
Office space is a very common commercial space. Most of these are rented out to businesses as a fully furnished office space where they can conduct their daily activities. It’s also universal to any industry. You have retail office space, warehouse office space, and many others.
An office space also has different classes.
Class A offers high-end amenities (a fully furnished office) and is very popular among corporate businesses. Class B commercial space can be found in major commercial areas but are more common among suburbs.
Northern Virginia, VA hosts several suburbs where you can see a lot of these Class B buildings. This is also a more affordable option.
Lastly, a Class C building is typically your dated building. Most Class C buildings are purchased for redevelopment or flipping commercial real estate. Class C buildingsare usually occupied by startups who just need a space to conduct their activities with a very affordable rate.
There’s also the retail space which is a space used for selling products and services. These are your shops and stores you find in commercial places like malls.
What is the current status of commercial real estate? Is it still profitable?
On the other hand, there is the industrial commercial real estate which are your manufacturing hubs. These are your industrial properties like warehouses with offices, warehouses with drive-in, garages, large warehouses for distribution centers, warehouse for trucking and others.
Since Northern Virginia, VA covers a lot of ground, there’s a lot of options. If you intend on buying business property, you can hire top commercial real estate brokers or commercial property estate agents to know more about commercial real estate for sales.
Since the pandemic started in early 2020, the real estate industry suffered losses, especially those linked in the hospitality sector. With lockdowns and work-from-home setups, office space soon became empty premises. Whether it’s short term or long term, it has already put a lot of commercial real estate owners in debt.
But commercial real estate is still profitable. Since we have shifted to the online world, e-commerce suddenly boomed.
According to Tyler Cauble, one of the top commercial real estate brokers, industrial distribution (increased consumer demand and next-day shipping) has made industrial properties valuable. This includes warehouse buildings located near customers and large enough to store stocks on-hand.
These warehouse buildings are currently on sale and also available for rent. Northern Virginia, VA is a large region. You will need help in scouting these areas to find the best commercial space for you.
Let us help you find and negotiate your next deal with any size property. Currently, there are several warehouse units for sale. The cost of warehouse space generally depends on the size.
It starts at 1,000 square feet warehouse up to 10,000 square feet warehouse.
You can also tell us what your specifics are and we will find them for you. If you’re looking for a Flex Warehouse for sale in Northern Virginia, VA or a bulk one or maybe cheap warehouses or
warehouses for sale for investment, we can find them for you.
How to rent, sell, or buy commercial real estate?
Many have been concerned regarding the status of their commercial real estate. Some are looking to find lessees for their commercial space. Some are into buying a commercial building while some are browsing for commercial real estate for sales.
If you’re looking in general to rent, you can contact different leasing companies depending on your need. There are warehouse leasing companies, office leasing companies, even church leasing companies! They can provide you with physical assets in return for regular payments.
But in general, all commercial real estate transactions are done with the help of top commercial real estate brokers and commercial property estate agents. With their wide network of contacts and long experience in the field, you can rest assured that you can get the best deal.