Finding a commercial land broker you can trust isn’t as hard as it may seem. Just like in life, there are traits that will separate the “greats” from the “not-so-greats”. Let’s take a look at how you can find the best commercial land broker around for your needs in the St. Cloud, MN area.

If you’re looking for fairly-priced commercial land for sale or lease from the most committed team around, get in touch with our team at Miller Properties today!

1. Work Ethic

Having a work-life balance is false. Work is part of life, and while family time and free time are needed, it’s important to work hard and ethically when you’re at work. A good commercial land broker is there for you when you need them, putting in the time and effort and doing their best.

2. Proactive Vs. Reactive

When emails and phone calls start rolling in, it can be tempting to get into a rhythm of “reacting” to everything that comes your way. Being reactive is necessary, but being proactive is essential to being a great commercial land broker. Without being proactive, you’ll never get ahead of your clients or your listings, and won’t enjoy near as much success.

3. Passion

It’s important to be excited about commercial land. A broker who doesn’t have a passion for what they’re doing won’t succeed – they’ll just maintain. Passion for your work can lead to a life filled with happiness and success, and makes your clients happy too.

4. Specialization

Many people try to be a jack-of-all-trades and master-of-none when it comes to real estate. But it’s important to specialize, as different types of real estate have vastly different rules and norms. Commercial vs. Residential, land vs. buildings, buying vs. renting. Try to work with a commercial land broker who has specialized in a type of real estate and a location so they can help you the best.

Miller Properties Staff

Park City Development

Have you ever wondered why the cost of a piece of land is priced the way it is? Understanding how commercial land near St. Cloud, MN is valued can be difficult, so we’d like to clear up a few ways property is priced, and why they make sense.

If you’re looking for fairly-priced commercial land for sale or lease, get in touch with our team at Miller Properties today!

Variables

Size/Shape

Land size is key to any property valuation. The more land is available on a single plot, the higher value it can be used for and sell for.

Shape also plays an important role. Typically, square- or rectangular- shaped parcels will have the highest value, since you can use them most readily. Long strips or jagged property lines have low utility, and thus lower value.

Topography/Geography

Topography can sometimes be overlooked, but if a parcel is not flat it may need to be cut down or filled in to provide a good building or parking lot foundation. This can increase costs, and lower the value of a piece of commercial land near St. Cloud, MN.

Likewise, the geography can also affect value. Underlying rock or water can interfere with foundations, or may not be suitable to construct on for other reasons. This can be expensive and time consuming to work around.

Utilities/Fees

If utilities aren’t present, bringing them to the site can be an additional cost which needs to be evaluated. Even if utilities are present, they may not be high enough volume for your use.

Any fees on the property can also affect the value. Special assessments, local taxes and other development costs can change the price.

Location/Market

Market demand is going to be a huge variable for the value of commercial land near St. Cloud, MN. Based on the location and current planned use in the area, you can make some educated guesses or purchase a detailed study of the market to determine what the future demand might be in the area for your type of use.

Sale Comparison Valuation Process

Park City Development

Sales comparison is the standard way to value commercial land near St. Cloud, MN. An analyst can look at the active listings of raw land in the area as an indicator of value. These aren’t closed transactions, so they are usually a bit higher than the final negotiated price depending on how fast the market is moving.

Depending on the market, it may be hard to find similar properties which have recently sold, and so this method can be hard to utilize. It’s best to view three to five similar properties to develop a good valuation.

Have you ever wondered why the cost of a piece of land or a commercial building is priced the way it is? Understanding how commercial property is valued can be difficult, so we’d like to clear up a few ways property is priced, and why they make sense.

If you’re looking for fairly-priced commercial properties for sale or lease, get in touch with our team at Miller Properties today!

1. Rebuild Cost

When determining the value of commercial property, the rebuild cost will likely be part of the discussion. If the entire structure were destroyed by accident, natural disaster or other means, what would be the cost to rebuild it?

The rebuild cost is based on building the structure entirely from new materials and replacing what was. In order to arrive at a fair value, you have to determine the current and future cost of the land, materials, and labor needed.

You may look at a building and believe it’s only worth $250,000, but it might cost $375,000 to rebuild it as-is, which pushes the sale cost higher.

2. Recent Area Sales

Another method of figuring out how commercial property is valued is by using the market approach. Here you take recent area sales data for surrounding properties. By looking at the amenities and features of each property and comparing them against yours, along with their sale price, you can begin to build an accurate picture of the value of your commercial building or property.

Depending on the market, it may be hard to find similar properties which have recently sold, and so this method can be hard to utilize.

3. Associated Costs

One more major way of figuring out how commercial property is valued is by looking at the associated costs. With the commercial building or property you’re looking at leasing, are there utility, maintenance, parking or other costs you’ll be responsible for?

These associated costs can cause a property’s value to rise or fall, so it’s important to determine up front if they’re rolled into a lease or not so you can make an accurate comparison between your options.

Centre-Place-Mall

When leasing commercial property, there are a number of factors you’ll need to keep track of to ensure the property fits your needs. We’ve put together a list below for you to check while negotiating your contract.

If you’re looking for fairly-priced commercial properties for sale or lease, get in touch with our team at Miller Properties today!

1. Real Space

The first factor to track when leasing commercial property is to determine the true amount of space you have available to your business. When leasing a space, the usable square footage is usually less than the rental square footage.

In some buildings, you may have use of common hallways, bathrooms, storage areas or other spaces which aren’t included as part of your rental square footage.

2. Lease Term

Be mindful of what your company needs when discussing lease terms like amount and length. The longer your lease term is, the more power you’ll have in negotiating your monthly payments. The shorter your lease term, the less flexible the leasing company will be.

A longer lease also locks your business into the space longer, which means you’ll be less able to respond to the need for more space if your business grows.

3. Associated Costs

When leasing commercial property, be aware of the costs associated with the property which are outside of your normal rent payment. This may include maintenance costs, insurance, property taxes, utilities and more.

It’s important to have a clear picture of which costs you will be responsible for.

4. Improvements

It’s easy to overlook improvements when leasing commercial property, but you’ll need to look at these issues in your lease.

You may need to make improvements or modifications to a space to serve your needs, like new seating, carpets, cabinets and more. It’s important to know whether you need consent to make changes, and who owns those improvements after the lease ends.

Suncrest business lots for sale

At Miller Properties & Investments, we’re proud of our commercial land for sale across the greater St. Cloud area. In our blog, we like to feature some of them, like SunCrest Business Park!

Check out SunCrest Business Park below, and contact us if you think it fits you or your client’s needs.

SunCrest Business Park

Suncrest business lots for sale

Along County Road 75 South, SunCrest Business Park is a high demand location in a growth area of St. Cloud. This commercial land for sale in St. Cloud, MN has two plots available, one of about 130,000 square feet and another of 190,000 square feet.

It’s truly an extraordinary opportunity for space right in the heart of one of St. Cloud’s fastest growing areas.

Area Businesses

Businesses around SunCrest Business Park currently are: Spanier Bus Service, St. Cloud School Of Dance, Northern Business Products, Redneck Trailer Supplies, SunCrest Tax Service, BlueLine Sports Bar & Grill and more. These area businesses will help expose your location to more people, making it easier to find for employees and clients.

Located about midway between I-94 and Cooper Avenue on County Road 75, you’ll love this location!

Contact us when you’re ready to get your hands on this commercial land for sale!