It’s no secret that the Denver commercial real estate market is competitive. Many properties are gone almost as soon as they’re listed, showing how hot the market continues to be. Clearly, it’s not just a matter of being able to wait it out for the perfect property, as it is still a seller’s market. But it is also wise not to simply jump at the opportunity to buy the first thing that comes across your plate, as you may end up with a property that is not worth its value. The best possible scenario is to locate a diamond in the rough, one that has been overlooked for a variety of reasons, but may still possess some serious upside. With that in mind, here is how to find a diamond in the rough in the Denver commercial real estate market.
Look for Properties in Less Competitive Areas
If you’re trying to find a diamond in the rough in the Denver commercial real estate market, it’s probably a bad idea to look at RINO, Capitol Hill, or the Highlands, as these areas remain incredibly attractive to investors. No matter how the national economy may be slowing down, certain parts of the Denver real estate market remain an extremely valuable commodity, one which plenty of investors still see the value in.
But if you’re looking for the property with the highest amount of upside and the potential to turn your investment into a serious cash cow, it’s a good idea to look in parts of the Denver metro area which most other people aren’t. Southwest Denver offers plenty of affordable properties but can come with other downsides, including having to renovate them and being located in higher crime and less desirable areas. However, the potential to reap the rewards of this type of investment is much greater and also less of a liability as opposed to many commercial real estate properties in other areas of the city.
Consider Your Skills
Perhaps one of the best ways to maximize your commercial real estate investment is to have the skills or network necessary to flip a building and renovate it on the cheap. If you have to undergo serious renovations to your building but have to pay someone else to do it, you can kiss a large part of your investment goodbye. If it’s possible to do it yourself, you’ll thank yourself later.
If you’re seeking a qualified and knowledgeable real estate firm in the Denver
area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.