Questions to Ask When Considering Retail Space Locations

Questions to Ask When Considering Retail Space LocationsGetting answers to the questions below for each retail space site that you are considering will help you decide which one is best for your retail business.

  1. Is the retail location appropriating zoned for your use?
  2. Is the retail space large enough for your current and future needs?
  3. Is the building in need of any major repairs?
  4. Does the space meet your layout needs or will it need a complete renovation?
  5. Is the HVAC is good working condition?
  6. What will my total costs be to lease the retail space?
  7. How does the landlord calculate retail space rental costs that will be passed on to you?
  8. Is the asking base rental rate and estimated operating expenses (aka NNN) favorable compared to similar locations?  If not here are a few negotiating tips.
  9. How does the landlord intend to deliver the space to you (e.g. “as is” or white box)?
  10. Will the tenant improvement allowance be sufficient enough to help you cover build out costs?
  11. Is the retail location close to where you live?
  12. Will you be able to find good employees to drive to your desired location?
  13. Is the facility located in a low or high crime area?
  14. Does the location meet your image needs if you have any?
  15. Does the parking lot have adequate lighting to make your shoppers feel safe when shopping at night?
  16. Will the neighboring tenants complement your business…..meaning will their shoppers be interested in your products?
  17. How close in proximity are your competitors?  If they are close can you compete with them?
  18. Will the retail location be easily accessible for your customers?
  19. Is there any public transportation nearby?
  20. Is there enough parking spaces for your customers and employees?
  21. Will your suppliers be able to easily deliver your products?
  22. Can products be delivered by 18 wheeler or UPS type delivery trucks only?
  23. Is the landlord planning any future updates to the retail shopping center?
  24. What signage opportunities will be available?
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