The process of searching for an industrial property in Dallas can seem overwhelming. Here are the most important questions to ask when considering an investment in Dallas’ industrial real estate market.
What is my budget and timeframe?
Budget and timing are two critical aspects of successful property investment. You should have a precise number in mind regarding your budget because an industrial property purchase involves large-scale investments. Be sure to use an industrial real estate agent throughout the negotiation process.
When searching for industrial property, timing is vital for obtaining both competitive pricing and long-term value. Fortunately, industrial spaces sit a little longer than residential properties due to their function and size. Therefore, before you search for Dallas industrial real estate property, determine your timeframe.
Is the location suitable?
When buying an industrial property, you need easy access to railroad lines, highways, or ports. In addition, it should be in a safe neighborhood and have facilities that align with your industrial demands. Convenience, safety, and cost are three crucial factors to consider when finding the right location for your industrial property.
Has the property undergone any major repair or renovation recently?
Identifying all structural issues in the property is crucial when making an informed decision. Ask the seller or real estate agent whether it had any major damage or undergone repair work recently. A thorough property inspection is necessary to ensure the building is in good condition with all the proper facilities you require – heating & cooling, water & drainage system, etc.
It is a red flag if significant repair work has been done or the property is easily prone to damages.
- What are the risks?
Industrial property investments involve risk. Before investing, make sure you evaluate the potential risks – financial losses, not being able to generate the expected ROI, damages to property, safety hazards, etc.
TAG Industrial is the leading industrial real estate group spanning the central U.S. TAG provides innovative advisory solutions and can help you make the most of your investment.