All business owners know how much location affects their sales. That’s why they ideally try to buy or rent commercial real estate properties conveniently accessible for people. This rule applies to most CRE properties used for commercial purposes; therefore, it’s a critical consideration for anyone investing in the industry.

However, that’s not the only reason why access affects overall valuation. This blog will address why location is significant and provide relevant explanations.

Types of Access

For starters, there are three key types of access property owners need to consider:

1. Commercial

Commercial access refers to the property’s proximity to the commercial center. People prefer visiting places close to other businesses because they can get multiple errands covered with minimal traveling time.

The closer the property is to the commercial center, the more accessible it is for people trying to get everything on their to-do list done.

2. Amenities

Choosing a location close to amenities like fitness centers, hospitals, parks, etc., improves property value. Amenity access is something staff members will consider before joining a workforce. Therefore, more businesses will prefer office buildings or properties with this access and use it to attract better talent.

3. Inclusive

Inclusive access refers to how accessible a location is to people with physical disabilities. Inclusivity has been a point of consideration for years, but its significance has increased further recently. People are now demanding more sustainable arrangements from businesses and employers and lack of inclusive access often backfires.

Why Location Affects Property Value

Commercial, amenity, and inclusive accesses affect property value, leading to operational and marketing effectiveness. Following are the core reasons how these location factors benefit businesses or organizations:

1. Increase Footfall and Sales

Commercial and inclusive access increases the number of total visitors to the business, which helps improve sales. Hence, being in the right location and having access translates into better revenue (unless the brand experience is poor).

Since it is better for businesses to choose such locations, you should invest in such properties to maximize your return.

2. Simplifies Emergency Response

Amenity access has several benefits for businesses. Talented candidates prefer to work in offices near gyms or parks to take care of their fitness during break or after work. Hence, the location can increase the chances of recruiting more talented employees.

However, there is another reason why being closer to amenities is helpful. Being close to a hospital or similar facility is helpful when dealing with medical emergencies. While offices can arrange for first aid to improve safety, some cases require specialized attention, and that’s only possible when you have a hospital nearby.

3. Amplifies Overall Satisfaction

Inclusive access can improve a business’s reputation and brand equity generally and with the help of a little PR activity. Therefore, better accessibility serves their business interest.

Final Thoughts

We hope the blog conveyed the significance of location and access for commercial real estate to help you decide. Don’t hesitate to contact the CHRE team to explore commercial real estate investment in Rio Grande Valley.

We have been working in the industry for several years and find the best deals for your portfolio.