Purchasing a commercial property, whether for a manufacturing business or a farm, isn’t cheap, and if the property has established buildings and pastures, it will cause the price to increase exponentially. Rather than overpaying, more and more business owners are choosing to attend Commercial Properties Auctions Edmond Oklahoma, as it allows them to get the perfect property at the best possible price. The following is a look at the properties that are most likely sold at auction and what a person should expect when attending one.
Ranch and Farm Property
A ranch or farm varies significantly in size and may be as small as a few acres or as large as several hundred. Factor in the sheer size of a farm, and any barns, houses, and utility buildings will cause the price to climb quickly. Purchasing a farm at auction makes it more affordable to either start or expand a current farming operation and provides the owner with ample room to grow in the future.
One of the most expensive aspects of owning a manufacturing company is having the buildings and land needed to carry out the day to day operations. Purchasing an already established facility will save money by preventing the need for expensive surveys and building permits. Most properties already have the proper zoning designation and electrical systems in place, making it a turnkey investment.
Hotels and Motels
Hotels and motels are also popular listings at Commercial Properties Auctions Edmond Oklahoma. For individuals looking to start a business in the hospitality industry, purchasing an already established company saves time and money. While the new owner will have to rebrand the hotel and create the needed policies and procedures, most are set up and ready to accept guests, allowing a business to open in a fraction of the time when compared to building a new property.
When an entrepreneur is either looking to expand or start a new business, an auction is an invaluable resource. Wiggins Auctioneers provides both residential and commercial auction services and offers a variety of in-house financing options. Be sure to visit website to learn more and make any expansion possible with a smaller initial investment. You can also follow them on Twitter.
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