Eleanor Roosevelt once said, “Life is what you make it.” The same could be said of commercial real estate. Once you’ve invested in a property, you can transform it into a successful and profitable space with the right strategy.

If you’re considering purchasing or have already invested in commercial real estate, you should know the steps you can take to enhance its value. Here’s how to increase commercial property value and get as much bang for your buck as possible.

1. Add parking.

The number of convenient parking spots available can significantly impact the value of commercial space, according to the FortuneBuilders article, “How to Increase The Value of Your Commercial Real Estate Property.” You’ll attract more tenants, and they’ll be willing to pay more in rent for a place with ample parking.

2. Make it more energy efficient.

Green properties are generally worth more, so it pays to invest in features like LED lighting and energy-saving infrastructure. For more information on how to make a commercial building greener, check out our previous blog entry, “How to Make a Commercial Building More Energy Efficient.”

3. Renovate the space.

Another option for boosting property value is investing in renovations. This could involve anything from fresh paint to making major changes to modernize the building’s interior and exterior, according to the Smart Property investment article, “7 ways to boost your commercial property’s value.” This will increase your property’s appeal to prospective and current tenants and allow you to increase rent.

4. Introduce amenities.

Additional amenities can easily make commercial property more attractive and valuable, according to Smart Property Investment. Examples include coffee shops, fitness centers, and conference rooms.

5. Partner with expert property managers.

The right property management firm can contain operating expenses with regular maintenance and increase the appeal of the building and grounds with services like cleaning and landscaping. For more info, take a look at our previous blog entry, “What to Look for in a Commercial Property Management Firm.”

If you’d like to learn more about how to increase commercial property value, the Avalon Realty Associates team would be happy to help you. Our client services include property management and development services as well as modifying commercial spaces to improve energy efficiency. Take the first step toward greater value today by calling 847-506-1000 or emailing info@avalonreal.com.