How to Utilize Your Vacant Commercial Space 

If you have a vacant commercial space, don’t let it sit idle. Although it might seem daunting to find a way to make use of such a vacant space, it really is possible for the property to generate revenue. Let’s take a look at some ways to make use of these empty spaces.

A Training Space for Professionals

The majority of modern day employers desire highly skilled employees who enhance their skill base at the same pace that technology evolves. Your vacant commercial property just might be the ideal place for professional development training.

A Working Space for Entrepreneurs

Even though you don’t use your vacant commercial space, an entrepreneur might love the building or room for his business purposes. Entrepreneurs tend to work all day and night, sometimes through the entire week, and many desire a working space outside of the home. Your empty commercial property just might be the perfect working environment, especially if it has amenities like meeting rooms and fast Internet.

A Child Care Center

An office space can work as a child care center. Though day care facilities are open during traditional business hours, there is no place for some youngsters to go at night when their parents are working the night shift or involved in other activities. Some parents can’t afford the cost of a nanny and don’t have a family member available to babysit. Get creative and modify your empty space so it can be used as a place for little ones to spend their time away from home.

An entrepreneur might be interested in renting your building/space for his business purposes.

Host Meetups

Use your vacant commercial space to host meetups of all different varieties. Conferences can be held in such a space. Or, use it for group events like book club meetings, fantasy football drafts and other events where like-minded individuals socialize.

A Home for the Needy

Though it might seem like a bit of an outrageous idea on the surface, it is possible to use your unoccupied commercial real estate as a homeless shelter. Bring in some cots, old furniture and other sundries to help the homeless stay warm during those cold winter nights. You can even choose to keep the space closed until you are given notice that homeless shelters have run out of room.

A Reading/Study Space

If you’ve spent any time in public libraries, you’ve likely found that they can get quite busy. Sometimes it can be hard for students to find a quiet corner to study or do their homework. Furthermore, public libraries tend to close between 8 and 10 p.m. Consider using your vacant commercial space as a study area for students. College students will appreciate your makeshift library if it is open during the night as it will give them a quiet space to cram for the next day’s exam.

How Alterra Can Help

If you’d like to learn more about how you can make use of your vacant commercial space or if you are interested in anything real estate-related, reach out to Alterra Real Estate Advisors. We’re central Ohio’s leading commercial real estate experts. You can lean on us to help you find a new property, sell a property, manage a property and just about anything else related to commercial real estate.

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