Mixed Use arrangements are one of the oldest types of retail property leases. They are defined as multi-use, multi-purpose buildings that combines residential, commercial, cultural, institutional and industrial uses. This applies to both physically having the building space, as well as being functional for all those sorts of uses.
This set-up is typical of older commercial districts in towns and villages. These structures have ground floor retail stores with residential/office space located on upper floors. These buildings incorporate up to six ground level spaces and a gross leasable area of less than 20,000 sq./ft, including the upper floors. Mixed Use real estate is challenged by limited onsite, street and off-street parking availability.
The Premise of Mixed Type Leasing
Mixed use leasing involves using one property for many purposes (i.e. housing, restaurants, stores, etc). This form of leasing lets developers dedicate the non-business hours of one business to the business hours of another (i.e. a real estate office is open during the day while a restaurant is open at night within the same building space). By having multiple successful businesses within the same confines, this can greatly enhance your property's value as well as your personal earnings from daily operation. Mixed use leasing has been proven to be effective for many businesses. Yours could be the next great success story.
A major benefit of mixed use leasing is if your business shares a property with a medical professional, restaurant or other high-traffic establishment, your business has a chance to gain more customers or clients just by association. Our professional expertise ensures your property reaches its greatest success through our mixed use leasing insight. We look forward to helping your business grow to its full potential.
Many Mixed Use owners have overcome the e-commerce challenge by adding wet space, service tenants and national's looking for smaller sites. The expanding e-commerce merchandise reality has forced Mixed Use owners to re-evaluate the highest and best use of their ground floor space. But there are a few great benefits in utilizing this sort of lease type.
Contact Prime Commercial today at 1-844-774-6388 to maximize the leasing or selling opportunities of your Mixed Use building. We have years of experience in the field and can provide great services and advice to clients across New York.