If you haven’t been living under a rock, you’d know that mixed-use properties are one of the most trending real estate investments at the moment. These properties are known for effectively combining retail, commercial, and residential ventures into one single building, which is just fantastic. With each passing year, mixed-use development projects are becoming more common in urban areas throughout the world. If you’re an investor and have experience only in conventional residential management, mixed-use residential projects might look a bit risky to you due to your lack of experience with them. In this blog, we will try to make the decision easier for you whether you should invest in these types of real estate projects or not. Let’s get started.
Common Mixed-Use Property Types
Classic Main Street – Properties on the ‘Main St’, since the Victorian Era, have been a typical part of American life. Most of these properties have a ground floor, which is occupied by a retail store. And above the retail store, there are usually 2 to 5 floors of residential units. Both the residents and retail store owners find this type of setup functional and beneficial
Live-Work Model – These types of residences have become quite popular as people prefer working and living in the same building. In such buildings, there is a dedicated space for commercial work, which can be behind, above, or alongside the space where people live
Changing Existing Space – As we all know, online shopping platforms have made shopping extremely easy for the public, who can now get their products delivered straight to their home. This has forced brick and mortar stores to shut down. Even shopping malls and big retail centers have shut down due to the rise of online shopping. But smart investors have used these abandoned spaces and turned them into mixed-use offices and apartments
As you can see, mixed-use properties can form a solid sense of community by bringing the commercial and lifestyle aspects together. These properties allow people to shop, dine, and have fun close to where they live. These properties are also great for economic growth as commercial stores are there where the customers need them. Investors should consider investing in these projects because they get to enjoy higher rent, lower turnover, less risk, and a broad appeal. If interested, investors can get in touch with Integral Studios. We are a famous mixed-use apartment developer in Upstate New York. We strive to work with others in research, design, and development that can lead to a sustainable built environment.