Shop and apartment

[GreenTreeFrog]

Hi,

Haven't been around in a while so Howdy! Here to have a read through the Commercial posts and also ask for some general commercial investment advice.

Looking at first commercial, small shop (max 30 people) in the main street of a small town with apartment upstairs.

The property is in New Zealand so I know the rules are different, but I am just after some general advice on what to look for, what questions to ask and what to avoid when looking at commercial property and commercial lending.

Any advice GREATLY appreciated!

Thanks!

 

[turk]

This thread may be of some assistance


Renting out a resi/comm (mixed used) is a pain

http://somersoft.com/forums/showthread.php?t=100229

 

[slix_88]

Haha that's my thread

Take every advice with a grain of salt. My situation may not be comparable to yours since:
1. My building is under a single title with no stratum subdivision of the resi from the commercial
2. I wanted to rent the whole building out rather than have separate tenants.

Should the 2 points above not be applicable to you, you should be able to rent out both the resi and comm aspects to separate tenants with relative ease depending on the market. A good thing to keep an eye out for is the separation of meters (water, electricity and gas).

 

[GreenTreeFrog]

Thank you so much for your advice, it has been very helpful!