Office Property Investments
Leveraging more than three decades of experience, Perfect Real Estate Investments brings priceless insights and a genuine desire to make you a successful commercial property investor. Our comprehensive understanding of Ohio’s commercial real estate, as well as our commitment to our clients, make us a premier resource you don’t want to go without.
Office Investment Properties
There are different classes of office buildings:
Every office building may have different kinds of office spaces. Generally speaking, every office space is pretty much the same thing – desks, cubicles, conference rooms, break room, and everything else in there. But there are also Medical Offices and Flex Spaces.
Medical Offices differ from general office spaces in the following ways:
- Medical offices have more rooms. Some of which are smaller rooms (exam rooms)
- More rooms have plumbing (sinks), especially in exam rooms.
- Medical Offices need a larger reception/waiting area.
- Medical Offices demand higher rental rates but are also more expensive to buy.
- Medical offices need more parking spaces.
Flex space is a type of office in which a tenant who occupies industrial space also has office space built-out within the building. This kind of space is for tenants who need to have both the front and back end of their business under one roof, from warehouse and/or distribution to sales, accounting, and management.
Properties can be further classified into 3 distinct categories:
- Professionally Managed
- Owner User
Self-managed properties can be any type of office space and any class building and are normally smaller properties. We recommend buildings with less than five units. There are certain types of office space investments like Executive Suites and Co-working spaces that are not only self-managed but they are also a business. These need to be close to where you live.
Professionally Managed properties can be any type of office space but we recommend buildings with more than five units and only be A and B class properties. The only exception is office spaces or buildings in Condo Associations. These are good for distant and out-of-state investors.
Types of Commercial Office Buildings
In general, office buildings are classified into three categories. Keep in mind that a Class A building in one neighborhood may not be a Class A building in another — office buildings are always viewed within the context of the local market.
These buildings are the newest and highest-quality options available in the current market. They look the best and have an up-to-date infrastructure. Located in great locations around Ohio with easy access, they’re professionally managed and attract the highest quality tenants and command the highest rents.
Class B buildings still have solid infrastructure, management, and tenants despite being older than Class A buildings. They’re a common choice for commercial investment properties because they can be restored to Class A glory with renovations.
Located in less-desirable areas and in need of extensive renovation due to age, Class C buildings have outdated infrastructure and the lowest rental rates. They’re often targeted as re-development projects.
There’s a lot to know about investing in office buildings, and we can’t wait for our insights to empower you. Let us transform your journey and put you on the path to successful returns. Schedule your free consultation today.