Brevard County is located in the Space Coast and features many prime locations for property investment opportunities. However, researching what makes an ideal location requires being flexible and creative when looking at properties. Changes in technology and shifts in the market mean investors and building owners may find that flex space property provides the best investment opportunities as they consider commercial property trends.
The term flex space typically describes an industrial space that starts as a warehouse. The investor adds an air-conditioned office or showroom to “flex” the larger into as many smaller spaces as needed. These multi-unit industrial buildings are often called flex spaces because they already have an office or showroom space and a warehouse within the building.
Flex space properties are growing in popularity due to their inherent flexibility. These types of properties are light manufacturing properties that can flex to suit various needs such as multiple office spaces or open floor plan concepts. The warehouses provide space for startup companies to grow into as they gain momentum and expand. Multi-unit industrial buildings are sometimes called flex spaces because they already come with portioned office space.
Flex space property has become a good investment because it opens up the market to medium-sized businesses making these properties lower risk. Flex spaces are accessible to more businesses making them the ideal option for many investors. Renting a portion of a building to shorter lease terms can accommodate renters who want flexibility and may not be ready to commit to longer leases.
Flex properties are also some of the cheapest options for investors and low-risk investments. Because flex spaces have lower lease terms and are affordable, small and medium-sized businesses are more likely to rent at capacity, so flex buildings almost always stay full. Small businesses are likely to pay on time and keep their office space clean, so maintenance isn’t as costly.
If you’re looking to invest in a flex space property on Florida’s Space Coast contact Ullian Realty. Our brokers understand the importance of finding the right property for your investment needs. Give us a call to learn more about the Ullian Process and our leasing options.
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