Broker Mike Tolj offers a perspective of the place of micro-spaces in commercial real estate. Think of the potential micro-units will have in the office space market. Just as tiny homes have their market, tiny micro spaces in commercial real estate are an opportunity for the right stage of the business.
Are you wondering how micro-units can transform commercial real estate? You’re not alone – many savvy entrepreneurs are turning to these miniature but mighty spaces as a cost-effective way to start their small businesses. Whether you’re looking for the perfect building to host your innovative retail concept, or if you need an affordable office space in an urban area, there is no doubt that micro-units have revolutionized the industry.
In this blog post, we will dive into some of the key points of micro-unit development and explore why this mini-era has become so popular with businesses. We’ll also discuss what landlords need to know before capitalizing on this new trend to maximize their profits while still providing quality commercial space solutions for tenants.
In the business’s simplest of terms, micro-units are any type of commercial or multi-family space that is smaller than the market average. These micro unit varies in different markets which is why they vary so greatly across the various markets.
- Micro-units have become a trend in commercial real estate across the country in recent years. This is due to the surge of urbanization, increased demand for affordable workspaces, and start-up culture which are all driving forces behind the micro-unit boom.
- With their efficient use of space, lower costs, adaptability and flexibility of design, and eco-friendliness, it’s no wonder that so many businesses are turning to micro-units for their commercial space needs.
- However, when exploring this new trend in commercial real estate, landlords need to consider the unique challenges and concerns associated with micro-units such as zoning and regulation hurdles, investor skepticism, limitations in design, and more. It’s also important to note that micro-units are not a one-size-fits-all solution, and it’s important for landlords to understand the various types of businesses that are best suited for these smaller spaces.
👉👉 Check out the complete article on navigating rent control at https://toljcommercial.com/micro-units-in-commercial-real-estate/