Looking for medical or dental office space can be very different from looking for conventional office space for sale. Medical and dental offices require vastly different approaches than other units; not only do they need to be located within highly professional spaces, but they also often require extensive build outs. Here are some of the major factors you should consider when looking
There Are Real Estate Practices Specialized in Medical and Dental Offices
Because medical offices are unique, there are real estate practices that only list applicable commercial real estate options. These practices not only understand which lots are best for medical offices, but they also know how to negotiate for the features a medical office would require -- such as a concession for plumbing and other build-outs. These real estate agencies will also have information about demographics important to a medical or dental office, such as how large a population they could expect to service.
Previously Owned Medical and Dental Practices Are Ideal
Medical practices and dental practices have quite a lot of overlap. A dental office is going to have a better outcome trying to purchase a previously used medical space than a previously used retail space. Medical and dental offices can look for optometry centers, pregnancy care centers, and other similar areas. They will have the same types of hook ups, waiting areas, and separate break rooms.
Sellers May Be Able to Offer Concessions
Just like with a building lease, a seller may actually be able to offer some funds towards a build out. There are sellers who understand the need for modifications with a medical or dental office, and may also understand that their primary clientele is going to be in this profession. In this situation, a real estate agent can ask for a certain stipend regarding specific modifications that have to be done.
Parking -- and Location -- Is Extremely Important
It isn't just the location of a medical office that matters -- it's also frequently parking. For medical and dental offices, many patients are going to need to park and may be there some time, in comparison to retail and restaurant outlets that see quicker changeover. Having access to parking can be incredibly important, both for the patients and the staff.
Sometimes a good deal can negate many of the above factors; a good location, for instance, could make a commercial lot the best choice even if it was previously a retail space. Nevertheless, the cost of the associated build out needs to be carefully considered... especially for larger practices and partnerships.
