You’ve been running your St. Paul, MN business for years and have found success. Up to this point you’ve rented space in various buildings. This strategy has worked, but hasn’t been perfect. A reoccurring question has surfaced once again— should you continue renting, or purchase commercial property?
Purchasing commercial real estate can be both exciting and terrifying. While commercial real estate shares some similarities with its residential counterpart, the rules, regulations, and knowledge needed are vastly different. At St. Paul Commercial Real Estate, we’re here to guide you through the process and help business owners in the St. Paul, MN area meet their commercial property goals.
St. Paul Commercial Real Estate understands the extensive time and consideration that goes into deciding whether to own or lease. As with everything else there are pros and cons to purchasing your own space, and we’ll be there each step of the way to help.
Some of the advantages of owning your own commercial property include:
1. Fixed rates. When leasing your property, at the end of that lease, the terms of your rent can be renegotiated. By purchasing your own space your company will assume a mortgage with a fixed rate. This ultimately means your cost for space from month to month is the same, making it easier to budget accordingly.
2. Tax breaks. By owning your own property, you may be able to experience some of the tax perks that come with it. It’s best to discuss all of the tax benefits that may apply with your accountant. St. Paul Commercial Real Estate can get you set up with all the numbers and properties available to make this discussion one of reality instead of hypothetical.
3. Total Control. By owning your own commercial property you’re giving yourself ultimate control of your business. Everything from how your business expands to how it looks will be up to you, allowing you greater opportunities in the future.
St. Paul Commercial Real Estate can help you take your business to the next level in St. Paul, MN. We know this next step is big and can be scary, but we’ll help you make commercial investment as pain-free as possible. For all your commercial real estate needs in the St. Paul, MN area, give St. Paul Commercial Real Estate a call at (651) 405-1011 today.