“Utah set a new record for the third-straight year, surpassing $2 billion in sales volume.”
~ on commercial property, according to a Cushman & Wakefield Commerce Report.
Commercial property investors are already excited to invest in Sanpete County…when the deal is right. These investors see the benefits. They know why it’s a good idea. But why would you choose to invest now in commercial property in a city within Sanpete County?
One word: Growth. Utah has been experiencing commercial growth as the market rebounds from the great recession. Markets like Salt Lake City are growing at unbelievable rates. As the market strengthens in the larger cities, commercial investors are having a harder time finding incredible deals. This is pushing investors into the smaller towns like the ones in Sanpete County.
I understand commercial property in Salt Lake City is booming, but Sanpete County?
Small-town America is made up of thousands of towns with populations under 50,000. These towns are the backbone of America. There were affected by the recession, but commercial property values saw less of a decline because those same properties saw less of an increase before the peak in 2007. These commercial properties are prime candidates for investors who are looking to buy when the market is low but about to grow.
While our small towns are a bit slower to recover from financial hardships than large cities, they are also more stable. Any good investor knows that stability is one of the important factors of any investment.
In these smaller towns, the economy is on the upswing and locals are ready to shop, dine, and enjoy local businesses once again. Investors should be on the lookout for these cities, making sure to look for high occupancy rates. The businesses occupying commercial real estate in these cities tend to have a history of staying put for long periods of time.
Think of it this way. Small town commercial property districts have stable tenants. The businesses that survive and thrive tend to remain in the same location for decades. This means, in many cases, that established small town commercial property investments are a stable choice.
Of course, every commercial property investment must be examined from all angles and investigated thoroughly. Not all small towns are perfect for investing, so always research the market and, when possible, use an experienced local Realtor.
If you would like to explore more of the commercial real estate market in Sanpete County, I would be happy to help you. Contact David Sedlak
Are you a commercial property investor in Sanpete County? Have you found that investing in smaller cities has proven to be a stable investment? Let me know in the comments.