Finding the Ideal Location
When looking for space in a Megalopolis like New York, there are many things to consider, but to get in the right direction, you will need to start with NYC zoning.
Your type of business may be prohibited from operating in a specific area or building under New York City Zoning Resolution. Each property has a unique zoning designation and permitted use.
Researching property zoning and Certificate of Occupancy could indicate in the early state that your intended usage of a location is permitted or not permitted. If you identify a site where your desired use is not permitted, you can apply for a Zoning Variance to allow for that use. However, the process of obtaining one is costly and time-consuming.
After you create a list of properties that meet your zoning and use requirements, it is critical to find the correct location to ensure a company's success.
The type of business usually decides whether the location of space is vital to success. A high-traffic retail location, for example, is critical for a customer-driven business such as a retail store or a restaurant.
Conversely, the firm's location is less significant if your clients infrequently visit the facility. This can result in rent savings and a tax deduction for specific properties that may offer Tax Incentives programs for tenants.
When looking for commercial property, consider the following factors:
What about customer accessibility?
Is the company's location near retail locations and high-traffic areas?
What kind of space will you require?
A warehouse, a retail space, or a place suitable for a food service operation?
What are your financial resources?
Is the facility's service level adequate?
What other businesses are in the neighborhood?
Consider whether other businesses in the vicinity will help you attract clients.
What is the area's occupancy rate?
A business region that is sparsely populated may imply that the site is unable to maintain consumer growth.
Think about whether your customers and employees will be safe from crime.