Socrates famously stated that “the unexamined life is not worth living.” Similarly, an uninspected building isn’t worth buying.
If you’re thinking about acquiring commercial real estate, a thorough inspection is a vital part of the due diligence process, according to the Certified Commercial Property Inspectors Association (CCPIA). Moving forward with a deal without a commercial property inspection is risky.
A commercial building inspection can also benefit you if you want to sell a property by helping you estimate its value and identify anything you should repair before putting it on the market. Additionally, an inspection demonstrates your commitment to upholding safety and quality standards as a property owner, according to SafetyCulture.
Whether you’re a prospective buyer or seller, here’s some essential information about how a commercial building inspection works and what a comprehensive review of your property should include.
Who Conducts Commercial Property Inspections?
To ensure a professional and comprehensive review, the CCPIA recommends hiring an experienced commercial property inspector. You want someone on your side who can efficiently verify that the building is well-maintained and structurally sound.
Depending on the project, the inspector might partner with specialists such as the following, according to the CCPIA:
- Electrician
- Plumber
- HVAC contractor
- Commercial kitchen expert
- Engineer
- Infrared-Certified® thermal imaging inspector
How Much Does a Commercial Building Inspection Cost?
The amount you pay for an inspection will vary depending on your property’s size and complexity, according to the CCPIA. Inspections that involve a comprehensive review of records associated with the property cost more than those that only include a technical evaluation.
Commercial Building Inspection Checklist for Buyers and Sellers
The correct approach to a commercial property inspection will vary depending on the type of real estate (e.g., restaurant, warehouse, office building, etc.). However, the process usually involves a walkthrough evaluation of these critical elements and structures, according to the CCPIA and SafetyCulture.
- Plumbing
- Heating, ventilation and cooling (HVAC) systems
- Electrical systems
- Mechanical systems
- Parking lots
- Sidewalks
- Roof surface and drainage
- External fixtures
- Wooden decks and balconies
- Basement
- Foundation
- Crawlspace
- Kitchen space and storage
- Doors
- Windows
- Interior
- Fire safety, prevention and protection features
- Pest control features
In addition to evaluating crucial elements of the property during the walkthrough, the CCPIA notes that the inspector will typically review vital documents, such as the following:
- Certificates of occupancy
- Service contracts
- Repair invoices
- Lease agreements
- Maintenance records
- Building and fire code violations
A building inspector will also usually interview individuals with extensive knowledge of the structure’s condition. After gathering all this information, the inspector will produce a final report providing a detailed summary of the property’s condition, including strengths and weaknesses.
The Avalon Realty Associates team conducts commercial building inspections as part of our real estate brokerage services. Whether you’re buying or selling, our experienced brokers can assist you every step of the way.
Learn more about our commercial real estate services by visiting our Contact Us page, calling 847-506-1000, or emailing info@avalonreal.com.