Realtors stage homes to encourage buyers to visualize themselves living in the space. The same is true for staging a mixed use property. Attracting buyers is the ultimate endgame. Savvy real estate investors showcase fresh, trendy elements to draw the most consumers to a mixed use property.
Macy’s plans to close hundreds of stores. Following suit are Kohl’s, Sears and others. More and more consumers choose online shopping over visiting their local retailer. Riding this trend, seasoned investors scoop up former retail outlets and convert them into mixed use, live/play sites.
Consider these staging trends to sell a mixed use property.
Purposing the Investment Property
Choose a purpose for the property before beginning any renovation or listing the investment for sale. Displaying its potential is another staging trend. What was once a strip mall in the heart of town may be better purposed as an entertainment/residential district. Or, perhaps, another trend in the area is to convert a multi-story retail building into a storefront with an apartment.
It’s a great idea to properly examine the needs and desires of the locale. The National Association of Realtors, Realtors.com, and Find The Home are useful resources for researching local market trends. Consumers know of the revolving businesses in their area. If three different yogurt companies came and went in the same building, it’s time to repurpose the site.
Additionally, stage to the strengths of the location. For instance, when next to a major movie theater, stage the site as an eatery or dessert shop — dinner and a movie! Or a coffee venue and an upstairs apartment for staging in a business district.
Today, people are more interested in shopping at outdoor malls comprised of anchor retailers. Remember this trend when staging a real estate investment inside a shopping mall. Instead of showing it as a former department store, purpose the store as a gym or business center.
Smart Home Technology Staging Trends
Whether it’s a commercial or residential mixed use property, smart buildings sell. Consumers crave technology but not the trouble of installing smart devices. “81 percent of current smart-home device owners say they would be more willing to buy a home with connected tech in place,” reports CNET.
Coldwell Banker believes the hype and offers its agents a smart home staging kit. Staging trends for selling mixed use properties abound with smart devices. Airports, coffee shops, fast food restaurants, and many more retailers offer charging stations. This is a favorite of buyers.
Smart lighting is also trending and enables users to wirelessly control and program lights. Smart thermostats are another energy saver for both residential and commercial properties. These devices assist owners with maintaining stable workplace climates. Most smart thermostats adjust the temperature based on employee/consumer activity.
When staging a mixed use property, incorporate a Wi-Fi system to attract even more buyers. Now that many cellular carriers charge extra for excessive data usage, shoppers migrate to retailers offering Wi-Fi.
Keen investors use these smart device staging trends to attract bigger and better buyers for their mixed use properties.