What to Screen For When Searching for Commercial Land

One major question that so many entrepreneurs ask themselves is whether or not launching a new business can actually be affordable. Honestly, it’s really hard to say because sometimes it can be affordable, and other times it’s not. It’s really going to depend on your industry, your expertise, your services, where you live, and sometimes even just the barrier to entry for your startup. Sometimes, it can take years to even see the ROI for some business owners. With that said, when you’re first starting out, everything needs to count. 

You need to make sure that every little detail you’re focusing on is actually able to make a big difference. And one of the things that’s especially important is the location. Some businesses just need to have land, and there’s simply no way around it. Maybe you plan on having a building on that land, or maybe you plan on using the plot of land for the work you’ll be conducting (such as agriculture). 

But whatever the reason may be, this is an investment; it’s an investment in your business, so this plot of land needs to be perfect. So, what should you screen for when searching for commercial land for your business? Well, here’s what you need to know!

You Need to Start By Defining Your Investment Goals

So, before you start your search, it's essential to define your investment goals clearly. Sure, this is pretty basic, and it’s something that every business needs to do anyway. But you need to think really hard on this, incredibly hard. Are you looking for land to develop a retail space, an office building, or perhaps a warehouse? You want to make sure you narrow down your options and make this for yourself as easy as you can, so just reflecting on your goals will help you do that. 

You Need Help From an Expert

You’re not really expected to know the odds and ends of what makes a good plot of land, well, a good plot of land. There’s just a lot that goes into it, such as the quality of the soil, the surrounds, what’s underneath, the foundation and the list just goes on and on.  So, it’s honestly going to be best to get expert advice on this rather than just picking any plot of land that seems to have a decent location. When it comes to land, it’s not just about location, but it’s literally about the quality of the land itself, too. 

You’re going to want to hire a professional that has good connections, such as knowing where to find help for Ground Penetrating Radar (GPR) Mapping (since this is always needed before construction); they need to have connections with legal advisors, and even land development consultants. In general, there’s so much that needs to be kept in mind, and you’re far better off getting an expert who knows all about this and can get you the connections you need so you invest in nothing but the best for your business. 

What’s the Infrastructure Like?

You’re going to need to check if the property has access to essential infrastructure like water, sewage, electricity, and telecommunications. The cost and availability of these utilities can significantly impact your development plans.

Environmental Factors

You or a hired expert is going to have to look for any potential issues such as contamination, flood zones, or ecological preservation restrictions. It’s hard to comply with regulations or even make the most out of your business if environmental factors get in the way.