Commercial Real Estate
World-Class Commercial Real Estate Broker Serving Torrance & the South Bay
At the offices of Michael Millea, our mission is to help you get the best possible deal so you can maximize the return on your investment. With more than 30 years of experience in commercial, residential, and probate real estate, we have the knowledge and experience to help you find a property that perfectly suits your needs and interest – and close on it with the best deal possible. If you’re looking to invest in commercial real estate, purchase property for development, or acquire new space for your own business, our experienced team can help.
What is Commercial Real Estate Property?
Put simply, commercial real estate property is any building or plot of land that’s intended for use by businesses instead of for living. Commercial real estate may include retail outlets like strip malls, offices and headquarters buildings, or industrial warehouses. Why invest in commercial real estate? While it’s not for everyone, the advantages of commercial real estate over residential can be significant.
The Advantages of Commercial Real Estate Property
Commercial real estate comes with a number of advantages that makes it attractive to investors. You might choose to invest in commercial real estate for any of its advantages:
- Income: Across the board, commercial properties offer a higher return on investment than residential. You can expect anywhere from 6% to 12% back on the purchase price every year, as compared to 1% to 4% on residential.
- Hours: Businesses go home at night, which means you can expect far fewer emergency calls from a commercial property than a residential.
- Easier to Price: Because commercial operate as a business, they’re easier to value. You can request the current owner’s income statement, which provides an objective data point on which to base the properties price.
Why You Need a Commercial Real Estate Broker
Commercial properties come with major advantages, but they also come with risks – which is why you need an experienced broker like Mike Millea. Here are the main reasons to work with a broker when purchasing commercial property:
- Multiple Parties: Unlike with single-family homes, the leasing deals on commercial properties often involve multiple parties. When buying commercial properties, you need to organize a deal that’s fair to all parties involved – and that’s where a broker comes in handy.
- Legal Procedures: Leasing agreements for commercial properties are usually more complicated than with residential, and because you’ll often have multiple tenants in a commercial property, you need someone to navigate the complexities of the law for a each of those leases. A licensed, professional commercial real estate broker will ensure you meet all specifications of the law, helping make every one of your leases favorable for everyone.
Contact Your Local Torrance Commercial Real Estate Broker
Whether you’re a seasoned commercial real estate investor or want to own your first commercial property, the law offices of Mike Millea are here to help. We’ve helped countless investors throughout the South Bay and Torrance areas orchestrate favorable deals and earn great returns, and we’d love to do the same for you. If you’d like to learn more about how we can help, feel free to give us a call at (310) 939-9356 or reach out to us at our contact page. We can’t wait to hear from you, and we look forward to helping you own commercial real estate.