Fullerton, California offers the feel of a small community, with the population and economy of a thriving city. With more than 138,000 individuals residing in Fullerton in 2013, this township has a diverse range of businesses and retail opportunities. Having so many options can make choosing a retail space to set up shop a little daunting, which is why most professionals recommend that you work with a commercial realtor from the beginning.
Some commercial realtors in Fullerton provide services to clients seeking to lease or buy a property, so be sure you know which you would prefer to do. In some cases, you might want to scout out a few areas before deciding if buying is for you. The choice often comes down to finance, reason for purchasing, and potential business growth. If you buy, you’ll want it to be in an area where you know you’ll see a big payoff. Buying in a location where there will be little to no growth over the coming years will result in a poor resale value in the future.
Fullerton has an edge over nearby cities in that it is situated so close to Los Angeles. Being only 25 miles from the downtown portion of this large tourist hub, brings in plenty of travelers, for both business and leisure. This influx of travelers in the city boosts the economy, and offers a client base that is much larger than just the population living in Fullerton.
Fullerton Retail Building for Sale & Lease
Leasing and buying retail property in Fullerton are two different real estate deals. Leasing locks you into a contract with the owner of the property for a set term. This could be anywhere from one to ten years, depending on the property type, and the preferences of the owner. One of the benefits you will see when leasing vs. buying, is that you can test the space before committing long term. This is something you would discuss with your realtor and the property owner, by initiating the contract with a short-term contract and an option for renewing upon a successful first year.
Buying property in Fullerton differs not only in terms of ownership and price points, but also in freedom to use the property, make structural changes to the property, and in terms of responsibility. It is a big decision, and one you should take seriously, by utilizing all the resources at your fingertips.
Fullerton Retail Property for Sale
The best way to find out if a property is worth buying, is by checking it out in person. Online advertisements can be appealing, and show you many details and colored photographs of a particular retail space, but seeing it in person is a completely different situation. It allows you to detect any potential upkeep issues, changes that need to be made before the contract is signed, as well as how well the space will work for your business long term. Once you’ve seen the Fullerton retail space in person, you should speak to nearby retailers regarding their experiences in the area. First hand ownership experiences go a long way toward helping you understand if the area is lucrative, and if there have been any problems there in the past.
Working closely with a commercial realtor, you can find a property which includes all the features you require. Fullerton has an abundance of retail spaces designed to complement many products and selling styles. Having a list of the features you need helps your realtor cut out the duds and bring you only potential candidates for approval. If you own an auto dealership, for example, you would need space for a showroom, offices for financing and sales, a reception area, and a lot big enough to house vehicles for sale. These are all things which should be discussed at your first encounter with your realtor.
Fullerton Retail Property for Lease
Leasing a property in Fullerton is a little less stressful than buying, simply because there are so many to choose from, and you don’t have to question long-term potential too much. Of course, it’s still important to choose an area where you know there will be success within your industry, but if the space doesn’t work out, there’s always an option to move at the finalization of your contract.
Renting in Fullerton varies in price depending on the size of the space you are considering. You will pay per square foot per year, and the average cost of retail properties within this city is $12 to $48 for 1,000 to 9,500 square feet. This price fluctuates based on location, age of building, and additional features included in the lease. Be sure to negotiate on amenities, and check on options for shared security and maintenance with other locations owned by the same company you will be leasing through. Many times, if the office you are renting is part of a larger set of offices, you will gain access to services used by the other renters as well.