A commercial condo allows medical professionals to buy a fixed amount of office space in an industrial or sometimes residential condominium building.
Commercial condos offer the benefits of ownership for smaller practices that aren’t yet ready to obtain an entire commercial building or to rent larger office space.
While the commercial condo owner is somewhat limited in terms of expansion, he or she has a certain amount of freedom to refurbish and redesign the condo as they see fit.
Commercial condos are generally more affordable than commercial buildings while still offering the benefits of building ownership, including…
appreciation of the property over time
ertain tax deductions only available to commercial condo owners, and the opportunity to secure nearly 100% financing for the purchase of the property.
Commercial condos aren’t right for everyone.
Be sure to consult your financial advisor to find out if owning a commercial condo is the wisest business move for your growing medical practice.
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