The amount of new commercial real estate developments popping up in Denver is staggering and often hard to keep pace with. The mile high city is certainly in a building and booming stage of economic progress, as Denver continues to quickly transform itself into a modern metropolis worth investing in. But lost in the shuffle of the flashy new developments springing up at a rapid pace, there is another property development opportunity to consider and that’s old and abandoned buildings. Though many developers have begun to recognize the potential of revitalizing older properties, there is still room to take advantage of existing structures. Here are some of the things to consider.

Look for a Building with Good ‘Bones’

Before you jump at the opportunity to buy a historic or abandoned building simply because you think you’ll be able to transform it with ease, consider the things that are most important to the building itself. A building that has a solid foundation requiring little-to-no renovations is a much more desirable property than one that will require extensive work to the foundation. Some buildings will simply be too costly to make it worth the effort of renovating, but the ones that have good ‘bones’ are the ones to look for. 

No matter how beautiful or historic a structure may be, it’s probably not worth the effort if you’ll have to spend and arm and a leg just to get it to where you need it. Once you have the infrastructure in working order, you can begin to start the process of renovating and building over the bones of the building, allowing you to showcase your creative vision for the property. You don’t necessarily have to feel constricted by the original architect’s vision, as you can transform a space into something far outside of what was there before.

A Sustainable Approach to Development

New property developments include starting from scratch. That means bringing in completely new building materials in order to complete the construction process, one that involves shipping materials from all over the globe and increasing the amount of energy consumption necessary to finish the job. Many commercial real estate projects also involve demolishing existing structures in order to build the new one. Instead of starting the project from square one, an older property can allow you save on material costs as well as reducing your environmental impact, a win-win in the construction arena.

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.

Are you thinking about dipping your toes into the Denver commercial real estate game, eager to start receiving the massive potential benefits associated with this smart investment asset? If so, you’re going to need to start considering your options for getting a commercial loan, as you likely won’t have all of the necessary capital up front needed to seal the deal. If you’re serious about considering the the steps you need to take prior to becoming the proud owner of any commercial real estate in Denver, here are some things to be aware of. 

Credit Score

In traditional residential loans, credit score is a big factor in determining what you will qualify for and what kind of interest rate you will be receiving. In the area of commercial loans, credit scores are less important and do not factor into the equation as much as they do in a residential loan. Of course, having a bad credit score will restrict your options and it’s certainly a good idea to find ways to improve your existing score, but this widely-used financial tool is much less important when it comes to commercial loans. 

Liquidity

In terms of a commercial loan, an important factor to bear in mind is the amount of liquid cash you will have on hand after you put a downpayment on your property. It can be tempting to throw every last cent you have into your down payment, but lenders grow weary about this fact as you will have no cash left in the event of an unforeseen event. Something like a serious emergency requiring an insurance claim will make having liquid cash on hand a crucial part to think about. In terms of lenders, they may require you have an additional 6 to 12 months on hand worth of principle and interest payments. 

Net Worth

Believe it or not, one of the first things a lender will look at prior to considering you for a commercial loan will be your net worth. A lender will calculate this by factoring your existing assets and subtracting your current liabilities from them. Very often, lenders like to see a net worth which is either equal or greater than the total amount of the loan. For example, if you are seeking a loan for $1 million, you will need to have that amount in tangible, calculable assets in order to qualify for a commercial real estate loan. 

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.

Getting into the competitive world of commercial real estate requires an adequate understanding of market fundamentals as well as having insight into what will deliver the largest return on investment. It’s not just a matter of putting up a commercial development and waiting for the tenants to begin lining up; one needs to formulate an effective option that will be attractive to both tenants and consumers, turning the area into a hub that drives economic activity. A terrific way to achieve this is through mixed-use developments, a great option for Denver commercial real estate projects.

What is Mixed-Use Development

In terms of commercial real estate, mixed-use developments are those that blend commercial, residential, cultural, or institutional uses within the same project. Typically, these developments may include condos above a shopping center, or apartments with a connected set of restaurants and co-working spaces within the same complex. Often, these developments will involve large tracts of land, possibly encompassing entire city blocks or stretching across entire neighborhoods. They may be within a single building or be made up of many structures spread across the same development.

Benefits of Mixed-Use Development

Creating a successful mixed-use development requires a proper amount of research and capital in order to achieve the desired results, as these projects can be ambitious in scope. However, the payoffs of achieving success with a mixed-use development can be substantial. A well-done mixed-use development can significantly improve the real estate market of an entire area, as a once sparsely populated area can become a mini-metropolis of sorts, attracting young professionals and spurring ongoing economic activity. Mixed-use development is seen as a fantastic tool for combating urban decay, reviving areas which had little-to-no market velocity.

Access to fresh food can be increased and energy costs and environment impacts can also be greatly reduced by having compact development that addresses major needs within a single area. These types of developments have the potential of creating a stronger sense of community and engagement among residents, as they will be much more connected with their surrounding environment. For a world driven in large part by automobiles, this is one way of reducing our dependence on cars and fossil fuels.

In addition to the massive potential for economic benefits for investors of such projects, tenants of mixed-use developments also enjoy the advantages of these benefits. The convenience factor for residents living within these types of developments is a hugely positive, providing a walkable neighborhood within densely-populated urban areas. 

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.

Seeking out the next big neighborhood to invest in can be a difficult search, fraught with missed opportunities and unwise decisions. Indeed, one of the best investment decisions one can make is to buy property in an area that is about to become hot. Development tends to happen quickly, as one successful business and retail space can lead to the next popping up within a short period of time. Before you know it, a neighborhood that was once relatively sleepy can be the talk of the town, making you wish you had the foresight necessary to make the smart money decision. With that in mind, here are a few of the signs that an area may be prime for a turnaround in the Denver commercial real estate market.

Mass Transit is More Available

It’s no secret that a lightrail can do wonders for a neighborhood, as a station can become a hub where many different kinds of businesses spring up around this area. A lightrail or other forms of accessible mass transit can transform an area exceptionally fast, as it will allow plenty of people to vist areas that were once much more challenging to access. Studying future light rail and other mass transit projects is a great way to discover the next hot neighborhood in your area.

Creative Enterprises are Sprouting Up

Is there a new inventive and unique brewery that has opened its doors in your area? Perhaps there is a new art gallery bringing in loads of talented artists, creating a buzz in the neighborhood that simply didn’t exist before. Or maybe there’s a new night club or bar that is attracting the young professional crowd, becoming a focal point of a street. Theses are all prime indications that your neighborhood is becoming an attractive option for commercial real estate investment, as creative industry often drives the attractive qualities of an area.

Rental Prices are Going Up and Supply is Scarce

If you’ve been in an area for a while and notice that rents nearby have started to increase significantly, this is a sign that your area is starting to become a more attractive option for investment. Another factor in this regard is if rental units are scarce, making the area a sellers market and allowing a significant return on investment for individuals and companies who have invested in the area.

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.

 

For real estate, the winter months often brings a lull in terms of selling a property. The holiday season tends to occupy many individuals’ time and energy, and attempting to buy or sell a piece of Denver commercial real estate can be a difficult process during this period. In addition, colder weather can make people want to wait for things to warm up before they take on the task of seeking new property to purchase. But the winter months don’t have to mean a total slowdown of all buying and selling in the field of real estate. Here are some tips for selling your properties during the winter months.

Keep Your Property Well-Maintained

This goes without saying in the world of real estate, as you don’t want to give buyers the impression that the property they may be purchasing is in a decrepit state. But when it comes to selling your property in the winter time, this will be especially important for the exterior of a property. Making sure that all paths are regularly shoveled and plowed is crucial for the selling process. If a person is unable to easily enter your property to view it, it will definitely reduce the possibility of selling it.

Provide an Additional Reason for Viewing the Property

In colder months, sometimes it can take an extra push to get people out of their warm and comfy abode. If you are hosting an open house or are simply showing off a property to one group of prospective buyers, incentivize them by serving warm and festive foods, such as hot cocoa, cider, and warming foods such as soups or stews on a particularly cold day. Turn the process of viewing your property into a fun and inviting experience, one that gets people to venture out in less-than-ideal weather.

Use Light Whenever Possible

During the winter months, properties can often look much darker and colder than during the spring or summer. One way of combating this effect is to utilize natural light whenever possible. Open up the blinds for prospective buyers as a way to bring as much light into the room as you can. If there isn’t a lot of natural light available, use spotlights or other lights which will make a room appear lighter and more inviting. If you can give the appearance of a warmer, lighter interior space it can do wonders for the selling process. 

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.