Go Florida Commercial, LLC’s Post

Transcript

So once you kind of come up with that plan, you want to look at demographics. Demographics and commercial real estate can be really important. What I've done here is, is this is just the, the center point. There is the Chamber of Commerce and I've done 1/3 and five mile rings around the chamber and we can make those rings, those adjustments anyway you want. We can do drive times further out, smaller in. And then with each one of those inside of those rings, we can really break down who's there. So you can have an idea of, of who's in those spaces. So in, in this this example. Here I broke down the five mile ring and it it gives U.S. data 5 miles within that Chamber of Commerce. So within 5 miles there's a population of 154,000 grows to 156,000. The household incomes about 83,000 and the medium home is about 334,000. But we can give you any demographics you want in any kind of charts or patterns. And a couple of the franchises that I work with, this type of data is very important to them before they place. A store anywhere, so whatever you need. How many people are in the household? What's the medium? Age of the household? These are all type of things you're going to want to know before you place your business. Another important item when it comes to demographics is, is obviously traffic counts. This is a space I have here on 27 and these red lines and and red sections and orange sections give us the daily traffic counts of passing pass that location. Again, there are certain franchises, certain businesses that need to have a certain number of cars passing by every day in order for them to place it. And again, these are all things you want to think about wherever you're placing your business because traffic is is really important. Obviously. So let's talk about finding a space. We're all pretty familiar with Loopnet. Loopnet is a service any of us can log on to and pull up space. Like I said, I focus on office, retail and flex space. This is just a snapshot of Metro West 32835, the zip code. So if I pull up Loopnet, when I took this picture, it showed there was 13 spaces for lease at the time. OK, so this is just giving you a small sample and I subscribe to a service which is costar which works with this works with Loopnet. It's a much more in depth system, but that same picture, the same diagram, there's actually 63 spaces for lease. So if you're just looking at Loopnet, you're not really looking at the whole picture because if I just looked at Loopnet, I'd only see this 13 places for rent. We're at the same time this was taken. There's actually 63 spaces for rent. So you want to make sure when you're working with somebody, they have they either working with Costar or correctly one of the larger services that really gives you the whole picture of what's available because you're going to want to know what is out there for rent so you can really make the best. Choice because you don't want to have to settle on something when you really didn't know that there was a there wasn't enough space out there. So the leasing market? This is a picture of the Apopka area and this is taken recently. This is spaces between 505,000 square feet. You'll see a really nice uptrend because people always come to me, they go, you know, when is the commercial leasing going to come down in price. We really haven't seen any decline at all in commercial leasing prices, at least for spaces 5000 square feet and less. So this is just a picture of the industrial space in the Apopka area and this is the average price is about $16.00 a square foot. Of course, that's an average. Every space is different because it gives you different features. Some have loading docks, some have high ceilings, but this just takes a look at the average. As far as an average for office space, again in Claremont, another area that I work in. Right now, the average office space in Claremont's about $26 a square feet. If you can see on the chart that we did have a little bit a little bit of a dip in 2020, but again, it still continues to climb. This service gives us projections. I'm not real big fan of projections because things can happen and change. So when they're predicting three or four years out, I don't know if really how accurate that is, but right now we're about $26 a square foot and then here in Doctor Phillips in retail space, we are about $38 a square foot. And we've seen another strong climb in retail space. It continues to go up, up and up. So a lot of businesses that I deal with that are thousand, 15102 thousand, 2500 square feet. There's there just hasn't been a lot of relief in, in prices in the rental market and there's a vacancy is very low. So it's the landlords can really set the prices they want.