Medical professionals are forced to make a serious commitment when acquiring medical office space, generally for a period of several years. Since the cost of moving a medical practice is very high, most physicians remain in place for quite a while. This being the case, it makes more sense for you as a medical professional to make a real estate investment that will acquire your own medical office space, so you don’t have to keep leasing.
Investing in medical office space
The ideal situation for a medical professional investing in real estate to be used as medical office space, is to find a building close to a hospital. However, even if this is not possible, there are significant benefits to investing in your own medical office space. For one thing, it will allow you to control overhead costs of that space much more effectively. You would also have the potential for having the value of your office space increase over a period of time. At the time when you’re ready to retire or leave the business for some reason, you would then have the option of leasing your space out to another medical professional, or a different business entirely, to receive additional income.
A sound investment
Medical practices are in general much more likely to succeed than other businesses are. Statistics from the commercial real estate sector indicate that even when times are difficult, the delinquency rate for general office space hovers at close to 10%, while the delinquency rate for medical offices is only slightly above 3%. If you’re a member of the medical profession, and your office space lease is about to expire, you should seriously consider investing in your own medical office space as a commercial real estate transaction.
Looking to invest in real estate?
If your healthcare agency needs additional medical office space, and is considering a real estate investment, we may be able to provide financial assistance. Contact us at Proactive Funding Solutions, so we can discuss some options for arranging for the funding necessary to proceed with your real estate transaction.