Medical offices are a big investment for any investor. It can take up a lot of space and require more upkeep, management, staff, and equipment than other commercial real estate investments. Medical office landlords may also have higher property taxes on these types of properties based on the land value. Tenants will often pay a higher rent due to the high cost of setting up and running a medical office. Despite these costs, there are many things to consider when purchasing a perfect Medical Office Space. Here are some tips to help you out!

Medical Space

Location, Location, Location

When it comes to medical offices, location is the key. The office needs to be in a place that is easily accessible and has plenty of parking. It's also important to think about the demographics of the neighborhood. A good location will also need to be close to other businesses and services that patients might need. Medical offices usually cater to a specific type of patient, so make sure the area you choose has a population likely to need your services.

Here are some Medical Real Estate Properties you want to check out:

Medical Office Space

Size Matters 

When it comes to medical office space, size definitely matters. Medical offices come in all shapes and sizes. You’ll want to make sure that the property is large enough to accommodate your medical needs - how much space you’ll need for staff, patients, and equipment. Will there be exam rooms, a lab, a waiting room, and offices for the team? It is also essential to consider future growth. Will the office be able to accommodate more patients as the practice grows?

Check out some of the properties for Medical Use:


Check Medical Requirements 

To make sure the property is suited for a medical office, it is important to check with the local authorities to see what Medical Requirements are needed. This could include specific square footage, the number of parking spots, and even zoning requirements - be sure to check out the zoning laws to make sure the property is zoned for medical use. Meeting with the local Medical Board is a good way to understand what is needed for your specific medical real estate property.

Consider Maintenance and Upkeep 

When investing in medical real estate property, it is important to consider the ongoing maintenance and upkeep costs. Medical offices can be high-maintenance properties as they require special cleaning and maintenance due to the equipment and patients' sensitive nature, including HVAC, plumbing, and electrical work. Make sure you understand what these costs will be and factor them into your overall budget.

Seek Professional Advice 

When purchasing a medical office space, it is important to seek professional advice. This could include talking with a real estate agent specializing in medical office space, meeting with the local Medical Board, or talking with a lawyer specializing in medical real estate. By seeking professional advice, you will make sure you are making the best investment for your medical practice. They can also help you make the right decision for your business and guide you through purchasing.

The Bottom line 

When purchasing a medical office space, it is important to do your research and make sure you are making the best investment for your business as it can be a profitable one. By following the tips above, you can be sure to find the perfect property for your medical practice and ensure that your business is set up for success.

So if you are looking to invest, contact us now!

As Staten Island’s leading commercial real estate brokerage firm, PreReal, Prendamano Real Estate Team is uniquely positioned to provide clients with real estate investment services, investment sales, and development opportunities.

Check out more of our Investment Services by clicking this link: https://www.prereal.com/investment-services.php

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