What Is a ‘Good’ or ‘Average’ Lease Rate for This Area?

To determine what constitutes a good or average lease rate in your area, consider the following:

Research the local real estate market: With the help of a healthcare real estate agent, you can consult resources such as commercial real estate databases, MLS systems, local real estate publications, and news sources to gain an understanding of the local real estate market and trends.

Consult a commercial real estate broker: Brokers can provide valuable insights into the local real estate market, including average lease rates and market trends.

Look at comparable properties: Your healthcare real estate agent can show you properties that are similar to the one you are considering, in terms of size, location, and features. This will give you an idea of what other businesses are paying for comparable spaces.

Consider the local economy: The local economy can significantly impact on lease rates, therefore, consider factors such as the local job market, population growth, and economic conditions.

Negotiate with the landlord: Once you have a solid understanding of the local real estate market and what other businesses are paying for comparable spaces, your agent can use that information to negotiate a fair lease rate with the landlord.

It’s important to remember that lease rates can vary greatly depending on the specific location; therefore, conducting thorough research and consulting with an expert agent are essential to obtain an accurate understanding of what constitutes a good or average lease rate in your area.