When it comes to commercial property, the financial investment and dangers are often greater than in the residential market. Therefore, making sure a property has no hidden costs is essential. Buying commercial real estate in Corpus Christi can be a great way to invest in your future, but you need to be sure of what you’re getting into.
A commercial building inspection report will reveal any potentially costly repairs or maintenance that may be required and any health and safety hazards. But it is important to know what is included in a commercial inspection and how much it will cost. So here we will outline both of those things to be better informed when making your decision.
What is a Commercial Building Inspection?
A commercial building inspection is a professional assessment of the current condition of a commercial property. The inspection will identify any areas in need of repair or maintenance and any health and safety hazards. It is important to note that a commercial building inspection is different from a property valuation, which assesses the value of a property for sale or lease.
A commercial building inspection report will usually include a visual inspection of the property and an assessment of any documentation relating to the property, such as building plans, maintenance records, and so on. The report will also typically include a recommendation for any further action required, such as repairs or further investigation.
This allows potential buyers or tenants to make an informed decision about a property and avoid any nasty surprises after the purchase or lease has been finalized. It is important to remember that a commercial building inspection is not a guarantee of the condition of the property, but it will give you a good idea of what to expect.
Why Do You Need a Building Inspection?
Getting a clear idea of the condition of a property is vital for any potential buyer or tenant. No one is willing to be stuck with a property that requires expensive repairs or has hidden health and safety hazards. A commercial building inspection report will give you a much better idea of what you’re getting into and help you to avoid any potential problems. But there are other advantages. These includes:
- Ensure that the property is secure and free of problems.
- When problems with construction or planning are discovered, buyers might be able to negotiate a better price.
- A condition report may be used in court to assist owners and sellers avoid financial or legal repercussions if problems develop after a sale.
- An in-depth examination will reveal pest problems, asbestos, heritage issues, and how to use less energy.
However, getting an inspection report is not a requirement when leasing or buying a commercial property for sale. It is on the buyer to decide if they want to get one or not.
Are you Confused About What Falls Under a Commercial Property Category?
In most cases, commercial properties for sale in Corpus Christi are usually larger than residential properties. They can be anything from an office block or a shopping center to a warehouse or a factory. Depending on the type and use of a commercial structure, traffic and flow of people can vary considerably. For example, a business office building may experience the same number of individuals entering and leaving each day, whereas a hospital might have varying human traffic. However, commercial structures are increasingly common, and more people’s lives are at risk. Therefore, commercial buildings must be inspected regularly to ensure occupants, customers, and passers-by safety.
How Much Does An Inspection Cost?
The cost of a commercial building inspection will depend on the size and type of property and the location. However, a commercial property inspection is based on a rule of thumb, with inspection businesses charging by the square foot.
The average cost for this service is approximately 16 cents to 30 cents per square foot. As a result, the cost of inspecting a 50000 square foot structure may range from $800 to $1500. Of course, this price also varies with the property’s age, as well as any unique features or problems that may exist.
Commercial Property Inspection
A commercial property inspection entails a comprehensive examination of the commercial property, during which an inspector comments on and documents findings and solutions and alternatives if issues exist. Commercial properties are classified into the following types:
- Retail: Includes stores, shopping malls, and other businesses where merchandise is sold to the public.
- Office: Includes office buildings, medical offices, and other places of business.
- Industrial: Includes factories, warehouses, and other buildings used for manufacturing, storage, or distribution.
- Hospitals: Includes hospitals, nursing homes, and other medical facilities.
- Schools: Includes elementary, middle, and high schools, as well as colleges and universities.
A commercial building inspection can cost anywhere from a few hundred dollars to a few thousand dollars. The price of commercial real estate in Corpus Christi will depend on the size of the property, the type of inspection needed, and the inspector’s experience. Consider consulting realtors, property managers, and other experts to get the best deal possible before making your final decision.