Everything You Need To Know About Flex Space
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- เผยแพร่เมื่อ 1 มิ.ย. 2024
- You may have heard the term “flex space” before, and it is important to know the significance in flex space in commercial real estate.
In fact, for the beginner and expert real estate investor both, flex space can be a great gateway into the industrial real estate realm as it is extremely versatile in the way it can be used and with the many businesses that these spaces are able to house. Here’s everything you need to know about flex space.
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Tyler Cauble is Founding Principal and President of The Cauble Group, Parasol Management, and Hamilton Development. Since 2019, Cauble has been raising capital for value-add investments and developments in the Southeast US, providing high-quality commercial space at affordable prices - a much-needed solution for the entrepreneurial community.
0:00 - Intro
0:33 - What Is Flex Space?
1:12 - Research And Development
1:39 - Advantages Of Flex Spaces
3:03 - Flex Space In Nashville
3:53 - Investing In A Flex Space
4:44 - Leasing Flex Space
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you. I'm also not your CPA, attorney, or broker - consult the professionals!
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I would be so grateful for a 10 minutes phone call!! Your channel is awesome
This is my new favorite commercial real state channel. Extremely underrated. .
🔥🔥🔥
I appreciate that!
It is crazy how you have all of the answers to my questions, I'm not even kidding!!! 🤯
Haha love it!
What is the average unit size on Flex Space? 1500sqft? 2500sqft?
It really varies depending on your market. I’d aim for suites between 2,500 to 5,000sf that could easily be combined but market research will help determine the best size in your area
Thanks Tyler. As an investor I stay away from mom and pop tenants as they are the most needy and unsophisticated. Have you come across much single tenant flex?
Thanks from Dallas!
Mom and pops certainly can be needy and unsophisticated, but it depends on how you address everything on the front end prior to leasing them (and definitely need to vet them correctly!). We see single tenant flex occasionally - it's far more common for those types of buildings to be multi-tenant, but you'll find them now and then
Hey Tyler, as an owner of a flex industrial space what expenses are typical of an owner vs renter? I imagine most of these would not be under a NNN? I imagine owner is paying insurance and external building maintenance, whereas the renter is paying utilities?
I've seen these leases set up in so many different ways that it's tough to say what is standard. I would recommend going the NNN route, if possible, because it will help alleviate your risk. However, it depends on your specific market and how other properties are structuring their leases. If all of your neighbors have it set up to where tenant pays a lump sum and their own utilities, then it may be best for you to do a modified gross lease structure (for example).
Hi Tyler, I'm a developer and currently constructing a multi unit flex space. Have you seen any uses for breweries, restaurants, etc?
Absolutely - we see those all the time. It's a great use for the space because they can have a taproom up front and their operations in the back
Can this be done with prefab or are there any regulations
Yep - you could definitely do this with prefab, just follow your local codes and ordinances