A mixed-use property contains three or more land uses, such as residential, retail, and parking within a carefully designed walkable community in the same or adjoining structures. Mixed-use falls under the commercial property category. You will frequently see an example of mixed-use real estate in commercial buildings located on busier thoroughfares with both offices and retail businesses on the ground floor and residences on the upper levels, also known as vertical development. Horizontal developments encompass a complex with single buildings.
Mixed-use properties have become a more prominent part of the landscape, gaining ground with city planners for their contribution to the community and the tenants. Others who benefit from these communities are the employees and visitors to Virginia Beach. Moreover, this sector of the real estate investment market has proven resilient through the recent events affecting the economy, further improving the outlook of mixed-use properties in the eyes of city planners. Read on as we explore what investors should know about mixed-use properties in Virginia Beach.
Benefits for Investors
Investors looking to diversify their portfolios further are wise to consider mixed-use properties in Virginia Beach to reap the benefits of this ever-expanding and adaptable trend. With a mix of office, retail, and other business sectors, any downturn in the economy for one income stream has less impact on your overall revenue.
Investors should know one important aspect about mixed-use properties in Virginia Beach: they have an overall higher occupancy rate. These communities are attractive for retailers because of the built-in convenience of various shops and services. Another attraction for these tenants is a steady supply of foot traffic, which helps ensure exposure to potential customers. In addition, these developments create benefits for community residents by offering more affordable housing and improving health by encouraging activity.
Investors should know that mixed-use properties in Virginia Beach offer strong valuations because the long-term outlook is more confident and offer healthy income streams that provide an outlook for fantastic long-term returns. In addition, mixed-use properties earn higher rents per investment dollar due to the combination of three diverse income streams within one investment.
Investors can enter mixed-use properties in Virginia Beach by purchasing and developing land and building to plan for a long-term strategy. Constructing your mixed-use property typically offers a greater return on investment than single-use real estate. However, existing mixed-use properties are also attractive investments. A large part of the allure to these investors is the immediate income stream and lower risk by avoiding the building process and establishing a thriving mixed-use property. For mixed-use properties that are not performing as successfully due to poor design or management, opportunities exist to add value by breathing new life into the property and changing the uses to suit current market trends better. While a bit riskier, history is proving investors who take the chance to revitalize these properties realize healthy returns. Other investors have chosen to reinvent existing single-use properties into mixed-use. While this undertaking is complicated, there are professionals with the know-how to help you add this coveted asset class to your real estate portfolio, as the professional investors at Evolve House Buyers.
Investors should know mixed-use properties in Virginia Beach provide an opportunity to utilize economy of scale principles, making the cost per square foot lower. In addition, mixed-use properties make it easier to be a truly passive investor because you can now afford to hire a trustworthy property management company specializing in these communities, like the professionals at Evolve House Buyers. The benefits of property management with the mixed-use property are twofold, both in the ability to hire management and an inherent sense of community for the residents, which leads to a higher level of property management by your tenants.
Evolve House Buyers
The professional investors at Evolve House Buyers make it easy to learn everything you should know about mixed-use properties in Virginia Beach, walking you step-by-step through the process. In addition, the full-service team at Evolve House Buyers makes it easy for Virginia Beach investors like you to start checking off your bucket list. From helping you find the perfect location for your mixed-use property to experienced property management and everything else, you can count on the pros at Evolve House Buyers to be there. Let Evolve House Buyers help you stay on top of market trends and adjust your investment plans accordingly. Why not enjoy your retirement while growing your portfolio at an increased capacity? At Evolve House Buyers, our professional investors understand how important it is to know someone is listening. At Evolve House Buyers, the goal of our professional investors is to help you build a healthy real estate portfolio. Let Evolve House Buyers help make your investment dreams come true and answer any questions or concerns you may have about the hurdles you face, with no obligation. And don’t forget to ask about our current inventory of the best mixed-use properties available in Virginia Beach. Contact Evolve House Buyers at (757) 798-8807.