Mixed-use commercial property is either a building or a land development that includes both residential and commercial space. A structure that has office space on the ground floor and apartment units on the top floor would be considered mixed-use residential or mixed-use office space.
As is familiar with most mixed-use properties, the residential portion takes up more square footage than the commercial share. You’ll often see the property listed as mixed use commercial residential property for sale or mixed residential commercial property. For tenants and residents, mixed-use space is commonly referred to as a live-work space.
Upperhill is a predominantly commercial space in regards to the magnificent structures in the region. Given the proximity to all the main sectors of the economy, a mixed-use development is like a final piece of a puzzle that fits perfectly in the region. In hindsight, as an ecosystem there needs to be the right balance between the diverse natures of property in this area not only to increase the value of the region but also serve the needs of the existent and upcoming generation. But are mixed-use developments sustainable?
Yes! These properties are most definitely sustainable real estate models. As we mentioned before, mixed-use property is not a new concept. Entire societies have been built on this real estate model. Despite the fact mixed-use properties may be inaccurately associated with other fads that seem to spring from the millennial generation, mixed-use properties have an appeal across all generations. The primary reason for the enthusiasm is mainly due to the collective nature of mixed-use commercial real estate.
Still not sure if a mixed-use investment property for sale is a safe bet? Consider this: The mixed-use real estate model ensures the sustainability of brick-and-mortar retail facilities across numerous industries, mixed-use commercial real estate has proven that consumers still want to get out and enjoy a more tangible shopping experience. Customers still like trying on clothes, getting their hair done, eating out, going to the dentist, checking out home furnishings and grabbing a cup of coffee.
For investors in this type of property for sale, the singular challenge is determining what type of business to include in a mixed-use real estate community. What will attract and keep tenants in your mixed-use real estate development? And, just like opening a new business, you will be tasked with understanding the market and uncovering the perfect activity that will sustain your growth for years to come.
Mixed-use developments are a whole package of convenience to both the street plus also the residence. Why not invest in a mixed-use development in a well thought out location which is ripe and ready for a live + work space. Ready to continue the conversation? Reach out to us!