To upgrade your commercial property is a lucrative investment that can yield returns of up to 12% annually. However, such returns can only be realized if the building is functional and aesthetically pleasing to potential tenants and buyers.

Upgrade Your Commercial Property Tips

Here are tips to upgrade your commercial property that will elevate your commercial space and maximize its potential.

Update the Roof 

If your commercial property’s roof has been in place for more than 20 years, it could be nearing the end of its lifespan and require an upgrade. Visible signs of wear and tear, increased energy bills due to poor insulation, or frequent servicing needs are indicators that it’s time to upgrade your commercial property’s roof.

Improving the roof not only boosts curb appeal but also enhances the building’s functionality, potentially increasing its rental and sale value. It also ensures compliance with updated building codes and safety regulations. Following a commercial roof replacement guide can help you get quality and long-lasting results. 

Prioritize Functionality 

When looking to upgrade your commercial property, one key factor is the functionality of the floor plan. Many older buildings have closed-in layouts with small rooms and office cubicles, which may not be ideal for today’s businesses.

While some tenants may require private offices, open-plan layouts are becoming increasingly desirable, especially for collaborative companies. If you aim to attract such tenants, you might need to reconfigure the layout by removing walls to create more open, usable space. This upgrade will make your commercial property more attractive to potential tenants and maximize its appeal.

Repaint the Building

A fresh coat of paint can dramatically upgrade your commercial property by giving it a cleaner, more modern appearance. If the building’s exterior paint is chipping or cracking, this simple upgrade can revitalize its look.

Be sure to choose high-quality paints that align with the overall aesthetic of the property and can withstand harsh weather conditions. Additionally, using paint with low or no VOC will help improve indoor air quality, which is important for tenants.

Applying neutral tones in interior spaces can broaden the appeal to a wider range of tenants, making this a cost-effective way to upgrade your commercial property.

Add Smart Technology

Integrating smart technology is a surefire way to upgrade your commercial property and attract tech-savvy tenants or buyers.

Adding smart security features, such as surveillance cameras, metal detectors, and turnstiles with ID recognition, can enhance security. Implementing advanced smart building management systems that control air conditioning, lighting, and ventilation from a central location can reduce energy consumption and make your property more energy efficient.

Additionally, installing smart lockers, thermostats, and app-controlled lighting can improve tenant satisfaction by making the workspace more efficient and modern.

Take Landscaping into Account

Your building’s exterior is the first impression potential tenants or buyers will have, so it’s essential to upgrade your commercial property’s landscaping. A well-maintained garden, with features like flower beds, pathways, and shade structures, can create a welcoming atmosphere. Outdoor lighting further enhances the appeal, making the space feel safer and more inviting.

Work with a landscaping specialist to incorporate great outdoor features, such as flower beds, pathways, fountains, and shade structures, to breathe new life into the space. Then, illuminate the space with proper outdoor lighting and take care of the lawn. 

When you upgrade your commercial property, you increase its functionality, security, and appeal, making it more desirable to renters and buyers. Consider these key upgrades to ensure your investment yields the maximum return possible.

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