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If rents are high and interest rates are low, you may decide that purchasing office space is a better option for you financially than renting. Additionally, evaluate your cash flow situation. Buying office space can require a docHub cash outlay upfront.
In the commercial leasing industry, $/SF/year or $/SF/yr means the rent per square foot per year. Why is this important? This is because most commercial rental rates are usually quoted in dollars per square foot on an annual basis. Lets look at this through an example.
Commercial properties are designated areas for commercial activities, therefore theyre not intended to be used as living space. However, living in a commercial space can be possible depending on several factors, such as local zoning laws and the location.
Its legal and common for commercial properties in Portland. They require your tenants to pay a monthly rent and also to contribute or completely pay for the expenses associated with operating the building and the communal spaces. This might include taxes and utilities as well as maintenance.