There are many types of commercial real estate properties available but they may not all be suitable for your specific healthcare practice. This blog details four types of commercial real estate properties to consider when expanding your practice or searching for your first location.
Retail Space/Shopping Centers
If you are planning on opening a healthcare practice, prioritizing brand awareness is crucial to bringing in new patients. Retail spaces are the ideal property type for this. Out of all the property types outlined in this guide, retail spaces offer the most exposure. Since signage will be prominent and public-facing, it can be a great way to promote your services to passersby. Retail spaces are also convenient for patients, offering close proximity to neighboring stores. Ample parking is also another attractive benefit.
Hospital Campus
One of the main reasons why a hospital campus is a desirable location is affiliation with the hospital itself. Your practice can benefit from a strong referral base, and you can also enjoy quick access to vital hospital amenities and a wide network of physicians. Before deciding on this particular type of location, it’s important to take your budget into consideration.
Medical Office Buildings (MOBs)
Does your practice operate strongly from referrals? If that is the case, medical office buildings (MOBs) are excellent locations. MOBs are dedicated exclusively to healthcare tenants. While you should expect to pay a higher price than traditional property types, you can also anticipate certain benefits that you may not receive from other locations such as healthcare-related amenities and an increase in demand due to referrals and foot traffic. Often, it can be worth paying for the extra value that comes with an MOB if it is situated in a place where your practice will thrive.
Office Space
If you are looking for a more cost-effective property type, office spaces may be a suitable choice. Not only can you enjoy a traditional business setting, but often, these spaces have more windows and natural light. As office spaces tend to be shared by multiple tenants, you will benefit from more assistance with maintenance issues, since amenities serve the entire building and impact other tenants as well.
If you need help determining which commercial real estate type is best for your healthcare practice, get in touch with one of our skilled team members at HBRE.
About HBRE
Headquartered in Nashville, Tennessee, HBRE is a full-service commercial real estate firm specializing in healthcare real estate. With over 50 years of combined industry experience serving 28 states across the U.S., we deliver exclusive healthcare solutions so you can provide the best patient care.
If you have any questions about leasing, buying, or selling a commercial property in Nashville or beyond, connect with our team today.
