Of course everyone, when buying a home or property, has heard that it is all about location. This statement could not be truer than when it comes to commercial property. With the days of the phone book slowly evaporating, having that perfect spot to place your business is an essential key success factor. However, where the perfect location is for your business depends a lot on what your business does.
It is important to note that not all businesses need to be on that main or arterial road in order to succeed, but for many it will increase the traffic they need to increase sales. It is essential to assess your business’s needs in order to find that right location. An example of this would be a manufacturing facility would be looking for accessibility to the highway for transportation needs, large space, and would most likely sacrifice main street frontage when looking for that perfect location. Whereas, a local convenience store would benefit from being in the center of a residential development located on a high traffic street and would not be too concerned about highway access for transportation.
Now this is where needs and reality often meet. Not all areas can accommodate any type of business as a result of zoning by-laws. That ideal space for a coffee shop across from the University might be zoned residential, or the building on the main street with excellent signage and frontage might look great for a hair salon and ends up being zoned industrial. It is always good to consult your local zoning by-law office and this is where having a real estate brokerage looking after your needs is essential. Zoning is not always black and white as cities often add special provisions to some areas and not to other. A brokerage will make sure that you are able to find something that meets your needs and the use is permitted.
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