They feature all the inherent benefits the real estate market brings to the table (stable income stream, tax benefits, long-term financial security, etc.), commercial properties still feature enough volatility to keep things interesting and your investment rewarding. However, this potential for higher turnaround also raises some flags and forces you to take a bit more careful approach than you would when putting money into family rental properties.
I support your idea for sure. There is a lot of people who work from home, but let's be honest when you are in your comfy room with your cat or dog you don't want to think about work. All you want is to relax, watch some TV, play with your pets if you have one or maybe not even one, huh. So these office buildings would be very useful for freelancers or maybe small and young companies. They don't need a lot of space. Just a place where they can cooperate and do their job and be motivated. So in my opinion we should improve and develop coworking spaces and office buildings worldwide. It is such a great idea. If you want to discover more about it click here.
I was just thinking about the future of the brick and mortar retail buildings this afternoon, there were over 3 trillion dollars worth of sales on e commerce in 2019. After this past year with all these companies being forced to be more efficient by making the large percentage of their employees work from home if possible, I think there will be a huge gap in need for commercial buildings in the next 5 years. Something will end up in that space inevitably and that’s what I have been mulling over, how to use the future empty commercial buildings.
Seth, in reference to the energy efficiency of one of those metal buildings and whether or not to have a single community bathroom or individual bathroom in each unit based on having to heat the whole place. I helped my brother finish out his new shop last year, 60’x 40’ x 12’ wall height metal building with 1 walk in door and 1 roll up door, he had it insulated with 2” of closed cell spray foam and is heating/ cooling the whole place easily with 2 split units. It’s like a Yeti cooler in the shop now the temp and air seal is so well regulated, my point is the insulation is so efficient that that it could add more value to each unit for a low cost.
This is a very interesting topic. There is a facility (http://www.off-sitegarages.com/broomfield-co.html) that opened up a little bit ago that’s maybe five minutes from my house. Here’s the site plan of the facility. I plan on calling them tomorrow to get a little more intel on their success. It sounds like a profitable niche with far less competition than normal self-storage.
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