Tips To Find The Best Multifamily Property For Sale Arizona

Real estate is one of the best investment opportunities today and commercial real estate investment in Arizona is not an exception.

Arizona is one of the best states for commercial real estate investment and multi-unit residential properties due to the overall economic health and a growing population, as well as a favorable climate for businesses. Large cities such as Phoenix, Tucson, and Flagstaff are promising, but investors should also look at secondary markets where demand is high and competition is low.

When evaluating Commercial Real Estate for Sale Arizona, there are several key factors to analyze:

Employment and Economic Projections

Arizona stands out as one of the states that recorded maximum employment recovery and GDP since the Great Recession. Technology, manufacturing, finance, tourism and health care sectors are growing industries and the state actively encourages business investment. This job and economic growth sustains leasing and occupancy rates for commercial properties.

Population Growth

Arizona is also one of the most rapidly growing states in the United States, especially in Phoenix. Increased population leads to greater demand for retail, office, industrial, and multifamily structures as customers and tenants. A larger population also means that there is an increasing need for homes, both for purchase and rent.

Changes to Housing Trends

Especially, the for-sale housing market is extremely hot, which made the home buying less affordable for a large number of residents in Arizona, resulting in an increased need for rentals. Multifamily vacancies are at all-time lows in many markets. Home buyers also tend to opt for newer houses that require less maintenance, especially popular types such as condos and townhomes.

Supply Constraints

As the population continues to increase the available space for new constructions continues to decline and become expensive. This supply shortage along with increasing construction costs makes existing commercial buildings all the more valuable because they are very hard to replace. New Multifamily Property For Sale Arizona are also large and capital intensive to construct.

Infrastructure Investment

Only in recent years the state government and many municipalities have invested large amounts of monies in new infrastructure comprising roads, public transportation, schools, colleges and universities and utility services to accommodate business and population needs. This infrastructure enhances the continuous economic growth and real estate development.

Through such market factors, the CRE and multifamily investors can identify potential growth areas to further their investments on Arizona’s growing expansion. Co-operate with a knowledgeable broker to identify the right properties and submarkets to invest in.