With the rise of e-commerce and rapid home delivery options, a lot of people are talking about the decline of the brick and mortar retail stores found in strip malls. However, this isn’t always the case. There are certainly many cities with too much empty retail space, but others have a strip mall market that’s thriving.
Even in situations when a name brand business moves out of a strip mall, there’s a chance that another successful retailer will move in, or the space can be repurposed to appeal to an entirely different market.
As always, when it comes to real estate, everything is about having a good location. If the area has a great school system, high incomes and high employment figures, retail properties have a higher chance of success. Meanwhile, a depressed economy, with low employment and low incomes will likely struggle to have profitable retail spaces.
Sometimes, however, there are just too many factors to know for sure if a particular retail property is a good investment for the money. This is where a retail property expert can be of excellent assistance in evaluating the risk factors associated with a particular piece of commercial property. New investors can benefit greatly from employing expert assistance, and so can seasoned real estate buyers if they’re new to a particular area and market.
In addition to expert advice and analysis, a knowledge of Colorado real estate law will go a long way to ensure that investors do not sign away their legal rights when entering into a purchase contract when buying retail space. When it comes to any kind of high dollar real estate investment, care and attention to legal details goes a long way.
Source: Westwood Net Lease Advisors, “Are Retail Strip Malls A Good Investment?,” accessed March 02, 2018