Retail space for rent comes in all shapes and sizes. It is priced across a wide spectrum. It is easily true that there are tens of thousands of retail spaces for rent available across the United States at any given time. All of this is good news for a business person looking for a retail space for lease.
The trick, then, is finding the retail space for rent which matches your specific needs. This article should help you in that search. It will, at the very least, give you a few things to think about. We are RDS Real Estate, and we live and breathe commercial properties for rent. Call us at (817) 439-3224 for more information. We may make our living in the Fort Worth area, but the truths we will share with you are universal truths applicable to any city in the United States.
The cost of retail space for rent
The cost of retail space for lease is based on square footage and location. That was true one-hundred years ago, and it is true today. You can find retail space for as little at $700 per month, and you can find it for $5000 per month. The question you must ask, then, is what can your operational budget handle? What can you afford? And remember this: is what you can afford located in an area which will be profitable for your business? Finding a great monthly lease deal on a retail space of perfect size will do you no good at all if that property is located in a dying or decayed part of town.
This is crucial especially for small business owners or home-based business owners looking to expend out of the home. Finding something you can afford in a thriving location is not an easy task. Our words of advice: find a commercial real estate broker who knows the area well, and never, never pay more than your budget can handle.
Look at multi-use properties for rent
What is a multi-use property? It is a commercial property which can be used for several purposes. An office space for lease, or a warehouse for rent, can easily become a retail space for rent with a little partitioning and modification. In other words, do not limit your search to just a retail space for rent. You might find a jewel tucked away under another name.
This is a concept which is gaining traction in the commercial real estate world. It is based upon the concept of coworking space . . .two or more business people “sharing an office space” and thus sharing in the costs. Using this as a guiding light, why not share a retail space for rent with another retail business? You could have a fast food restaurant share space with a convenience store, or an espresso stand sharing space with a veterinarian, thus cutting costs by sharing costs.
It’s a brave new world out there, and new ideas are being tried daily. Finding the right retail space for rent, for your needs, might require you to think outside the box.
About RDS Real Estate and Fort Worth Design District
RDS Real Estate is locally owned and operated in Fort Worth, Texas, and is the managing firm of the Fort Worth Design District. The District is comprised of Box Office Warehouse Suites, Paddock Place Office Suites, and Golden Triangle Business Park. Contact us for more information.