Looking for the best Canmore commercial real estate to grow or start your business? Or perhaps you’re looking for the next best investment opportunity in a world-class mountain community?
Canmore commercial real estate represents one of the most exciting opportunities in the province for entrepreneurs and investors alike. If you’re looking to start a business or restaurant, the robust and varied economy of Canmore makes our community a top bet for success. Our strong tourism & hospitality base provides a year-round influx of visitors from around the globe. Our vibrant local population gives you the support and community any business needs to thrive.
As a commercial property investor, you can use your capital to meet the needs of savvy business people who may not be ready to purchase a space of their own just yet. This is a great way to support local business, while smartly expanding your property portfolio in a direction many people miss out on.
As always, feel free to contact me via text, call or email if you have questions on Canmore, or commercial properties here. No question is too small and I’m always here to help!
In this article, lets discuss how to find the best Canmore commercial real estate:
This is step one! The key to understanding the perfect space for your business investment is determining your needs.
Maybe you already have a successful business here in the Bow Valley, and are looking to get your first space or even expand your imprint. Restaurants need more seating to grow revenues, and retail needs great frontage to get in front of customers. Ideally your new space can meet the current and future needs of your business, and the right commercial agent can help you determine this.
As a commercial property investor, finding an asset that will perform for you is crucial. How will the condition of the building affect future returns? How difficult or easy will it be to put great tenants into the property? These are all questions you should have answers to before making a move on a space.
A solid commercial agent can help you determine your budget, and guide you through the options available on the market as well as new options coming up soon. Getting started with a lender is important, so you know where you sit in terms of financing (if required).
Having a professional with “boots on the ground” is so important when looking at any real estate market! As a long time Canmore resident, I have an understanding of what makes our community tick. Keeping my ear to the ground on our marketplace ensures my clients always get the latest updates and best opportunities, without having to chase around for information.
A great agent will help you find actively listed properties, and keep you updated as more listings hit the market – so you don’t end up following dead listings. They will also help you determine the feasibility of a property, get deeper information on leases and financials. As your agent, I will help you negotiate favourable terms to make sure you get the most out of the transaction.
Note: Not all real estate agents are able to work with commercial property & leases. Always be sure to check that your real estate professional is licensed to work in the Commercial sector. This area of focus requires special training and skills, and I am fully licensed by RECA and registered to trade in Alberta Commercial Real Estate.
This is a big question for entrepreneurs and business owners! In my opinion, it all boils down to risk vs. return and your own vision for the future. Confidence in your business may also play a part.
Opting to lease space is a great way to off-load some risks to the building owner. Some of the logic is that businesses, particularly new businesses, often fail. Around 20% of businesses fail in their first year, and roughly 45%-55% fail by the end of their fifth year. Now, if theres one thing I’m always telling clients, it’s that real estate is a long-game. Like any investment, never buy it unless you plan to hold it for at least 10 years. So even if you’re really confident in your business plan – it may make sense to lease space at first, to be safe. This also frees up capital so you can fund more growth!
Purchasing and owning your own business space is a great way to build equity. As your business grows, your asset should too. Banks may allow you to lend against it, and you can also be sure that your amazing space never gets sold off to a higher bidder when your lease ends! Of course, you carry the additional risk of property. Defaulting on a mortgage is far more serious than breaking a lease. But if your business is established and ready – owning your own space is an excellent idea.
Once you’ve determined your needs, goals, and budget, you’re ready to begin your search!
Evaluating properties and markets is the best way to make an informed decision. Watching the market to see what comes up, and putting the word out to the back-end of the marketplace will ensure we get an early shot at anything special.
Once we find something that is of interest to you as an entrepreneur or investor, we can dig deeper and begin our due diligence. I’m happy to arrange walkthroughs and showings of any properties or leases that could be a fit for your business. Connecting you with top professional services for inspections, tax issues & document reviews will ensure your interests are looked after.
When you choose to work with me, rest assured you will have a complete professional by your side every step of the way. From investigation, to negotiation, closing the deal & beyond, I pride myself on providing the highest level of service to my special clients.
If you’re ready to begin your search, let’s connect today! I’m always available via text, call or email. No question is too small when it comes to your next business or investment decision.
Feel free to call, text, or email Dan today for no-pressure advice,
tips and insights into the Canmore, Cochrane & Banff real estate market.