Why Do You Need Carolina Commercial Realty
In Your Corner?
Here’s what we do for you:
Carolina Commercial Realty is a full-service real estate brokerage. We specialize in commercial transactions only. Many other agents are not specifically trained to handle all of the intricacies of commercial deals.
Price is not the only consideration in a sale or lease deal. “The devil is in the details” and some are as follows:
In any situation, in addition to price, one needs to be cognizant of zoning compliance, required parking, access & egress, as well as operating costs, property taxes, property insurance, and amenities.
Time for Due Diligence; 60, 90, 120 or 180 days? Get control the property while your investigations and rezoning (if needed) are performed.
Inspect structural, mechanical, and environmental aspects of the property and future plans for the area.
Begin your financial applications at the same time as your property inspections. Is Seller-financing a possibility?
Protect your Earnest Money Deposit. Make note of expiration date and negotiate extensions, if needed to complete investigation and financing, so that you won’t lose your deposit if you decide not to complete the transaction.
Landlord vs. Tenant responsibilities. Who pays for what? Real estate taxes, property insurance, utilities, repairs, maintenance and CAM (Common Area Maintenance).
Triple Net (NNN) leases vs. Gross leases. Triple Net means that the tenant pays the lease rate plus property tax, insurance, utilities, and CAM.
With a Gross or Full Service lease, the Tenant only pays the lease rate and the Landlord pays all else.
This can save a Tenant anywhere from $1.00 to $4.50 per square foot rental expense. A modified Gross lease may mean that the Tenant only pays for utilities. These conditions need to be disclosed in detail at the onset.
Percentage Lease on retail space is another negotiable issue.
Tenant considerations: Options to Purchase (how much is credited toward purchase price), Options to Renew and First Right of Refusal on a future sale consideration by the owner. You can own it rather than someone else.
Landlord considerations: Tenant upfit (alterations to premises); tenant and/or landlord pays. Landlord protection for signature tenant alterations (escrow repair/replace costs).
Tenant liability insurance. What happens if someone is injured on the property?
Present zoning and likelihood of suitable zone change. Utility and power requirements. Water, sewer, and gas for restaurants. Heavy power, ceiling height for stacking, docks, drive-in doors, access to highways and rail for industrial. Curb cuts, medians, exposure and signage for retail, as well as planned, government road changes.
Demographics: population density, income, age, income, own or rent residence and traffic counts. For most retail, on the to-home or to-work side of the street. What suits your business?
All businesses: handicap access, ease of roadway entry; can you enter from either the right or the left side of the road or is it a “right-in only” due to a median?
Topography, watershed restrictions, density (how much land can be built upon?), perk tests, availability of municipal water and sewer, utilities, airport noise cone, access and egress (highways, rail), zoning, soil tests (landfill), environment considerations and others.
ADDITIONAL TENANT CONSIDERATIONS
Upfit costs to make the space suitable for your use; who pays? Startup Rent considerations, one, two of three months free rent? Graduated lease rate (lower at beginning and increasing over initial years). Cost of Living increases (annually or on renewal or flat rate-no increase).
SELLER TAX ADVANTAGE
1031 Tax Deferred Exchange. Reinvest sale proceeds to avoid capital gain taxes.
BUYER /TENANT REPRESENTATION
When you use the services of Carolina Commercial Realty, we save you the trouble of calling numerous brokerages to find a property. We have access to nearly all of the listed commercial properties for sale and for lease in our area. We will refine the search with you, schedule showings, gather vital information, prepare contracts and represent you in negotiations to get the best deal possible, most times, at no cost to you.