Are you planning to take on a new business venture in Kansas City? Whether it’s a retail store or a rental property, the location plays a crucial role in growth and profitability. Using commercial space can bring enough foot traffic to generate sales.
Kansas City competes with other places in residential and commercial real estate. In 2022, it absorbed about 11 million square feet of industrial space. Its thriving business community and diverse economy drive increasing investment potential.
If you plan to take on a new business venture, Kansas City is a suitable place to build it. Do you want to know the hottest locations and areas with high investment potential? Continue reading about commercial real estate in Kansas City here.
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Five Investment Areas in Kansas City
Apart from a diverse economy, the growing population and pro-business environment drive the real estate market in Kansas City. Here are some of the best places to invest in commercial property.
Midtown Plaza
People in Midtown Plaza enjoy a relaxed lifestyle because it is a suburb. Although outside the city proper, businesses thrive with enough foot traffic.
If you plan to lease, commercial real estate in suburban areas is more affordable. Midtown Plaza’s low cost of living pulls expenses down for businesses and investors. Instead of high-cost expenditures, use your earnings to improve and expand your venture.
As a business owner or an investor, your goal is to produce less cost and generate high sales. You can achieve these if you choose the best commercial space in the area.
Greater Downtown
Regardless of the venture, you’re sure to find plenty of opportunities for growth in Greater Downtown. The low cost of living, the growing population, and the enormous support network make it possible.
From restaurants to rental properties, every venture enjoys profitability and opportunities. You can pursue anything as long as the growing population needs it. If you manage to last in the industry, you can consider expansion to keep up with its growth.
However, there are other factors to consider for growth and expansion. The location and attractiveness of your commercial property are crucial for your profitability. Attractive real estate with foot traffic and visibility have a higher chance of profitable returns.
Hickman Mills
Hickman Mills is another hotspot for commercial real estate in Kansas City. Like Midtown Plaza, the area settles in the suburban region of the city.
Investment potential is the ability of a venture to build wealth and give high returns. Hickman Mills offers this opportunity because of its diverse economy and low cost of living. Different industries run in the area at an affordable price.
Hickman Mills is home to a growing population, allowing you to tap into a larger market. Although often busy, the traffic is manageable compared to other areas.
Shoal Creek Valley
Shoal Creek Valley is another hub of businesses, mainly in the food-service industry. There are restaurants and coffee shops everywhere, which means competition if you want to open a food-service business.
The population in Shoal Creek Valley is small. However, this does not impede ventures from generating profit and growth.
Many businesses thrive as long as they have a good location.
For example, a restaurant in a hidden location cannot attract enough customers.
Accessibility, visibility, and competitiveness are necessary when identifying business locations. When searching for spaces in Shoal Creek Valley, consider these factors. Doing so can boost the performance and position of the venture.
Longview
What other factors to consider when buying from a commercial real estate Kansas City market? Some things affect property value. This includes the neighborhood, flexibility, and scalability of the location.
Before signing a lease contract, check the neighborhood where the commercial space belongs. Determine if the property provides functional connectivity to utilities and transportation. Ask if the area and establishment are up for modification in the future.
Longview matches these factors.
The area shows a developing economy and steady population growth, which are vital in determining investment potential. Like other places in the City, Longview offers a low cost of living.
However, its accessibility and visibility depend on the location. Further, the modification differs per agreement.
How to Find Commercial Real Estate
After identifying the hottest places in the Kansas City real estate market, how do you find the best deal? Aside from these factors, identify your sources for commercial properties. Read on to discover from whom you can ask for help.
Build Relationships With a Real Estate Professional
Your best source for finding real estate in Kansas City is a real estate agent, a realtor, or a broker. You can ask them for the best deals and expect them to guide you until the contract signing.
A licensed real estate professional is knowledgeable and dependable. If you want to enter the market, they can help you buy or sell with a fair offer for a house, office, or big establishment.
Check Real Estate Listing Platforms
To see unoccupied properties on the market, check out your local listing platforms. Searching through mediums gives you a high volume of real estate listings in an area. In most cases, the websites offer filter features for faster and easier searching.
When browsing the market online, ensure to verify the listing data. This guarantees that you are looking into the current list of real estate properties.
Try Networking
Another way to find commercial real estate in Kansas City is through networking. Whether new or established in the industry, most business owners have their own network. Use your connections to ask other entrepreneurs for real estate property leases.
If you’re planning to sell your home and start anew, follow this link to get a fair offer for house. This will give you a headstart in starting your venture in Kansas City.
Find Commercial Real Estate in Kansas City Today
Now you know the best places to find commercial real estate in Kansas City. With so many investment opportunities, it is no wonder the city sees an increased interest in commercial real estate.
Consider hiring an agent to get the best deals. If you’re looking to open a business, don’t stop here. We have other guides for first-time small business owners.