Commercial real estate in Florida has reached an all time low. Now is the best time to invest in any real estate in this sunny state, including commercial properties. Real estate investors flooded the Florida residential market with a surplus of residential properties. There are dozens of empty subdivisions where brand new homes sit that have never been occupied.
If you are thinking of investing in commercial real estate in Florida, you have many different options. One of the best options is to invest in strip malls or other commercial business property near some of these brand new subdivisions. Some of them are miles away from even a convenience store. While there are many vacancies in these subdivisions, they are filling up all the time as people take advantage of low mortgage rates as well as the low cost of the homes.
Because the residential real estate market has reached rock bottom, there are a lot of trades people out of work and building and materials businesses are suffering. You can get labor and materials at bargain rates when building any sort of commercial real estate in Florida.
You may decide to buy land, which is also at an all time low, and build a small strip mall that has convenience stores and other necessities. Even if you do no want to go through the trouble of actually building the strip mall and having to rent it out and manage the property, you can develop the property, get it zoned and sell it at a profit to another developer who wants to do the actual building. Better yet, you can embark on this kind of endeavor with a partner.
Other commercial real estate in Florida includes hotels that are being renovated and turned into luxury condominiums. Although the residential real estate market has crashed, the tourism industry is still thriving. Investing in any property that caters to tourists is always a good bet in Florida.
In most parts of Florida, older hotels and motels are being purchased by developers so they can construct luxury high-rise condominiums. Because building has slowed down a bit in the sunshine state, now is a good time to buy property such as old hotels and motels if you have time to wait for developers who are sure to take over. You can buy cheap and hold onto the property for a year or so until the market rebounds at which time, the luxury condominiums will again be in demand. One thing about the Florida real estate market, it always rebounds.
Commercial real estate in Florida varies from stores, hotels, restaurants and shopping centers. There has never been a better time than now to invest in Florida real estate. If you have money to invest in real estate in Florida, you should consider investing in commercial real estate in Florida. With loan rates at an all time low and the price of property at rock bottom, there has never been a better time to buy real estate in the sunshine state.